Intercontinental Exchange, Inc. (NYSE:ICE) Stock Position Cut by Mackenzie Financial Corp

Mackenzie Financial Corp trimmed its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 8.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 419,383 shares of the financial services provider’s stock after selling 38,810 shares during the quarter. Mackenzie Financial Corp owned about 0.07% of Intercontinental Exchange worth $57,409,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Wellington Management Group LLP raised its holdings in Intercontinental Exchange by 35.0% during the fourth quarter. Wellington Management Group LLP now owns 16,397,991 shares of the financial services provider’s stock worth $2,105,994,000 after purchasing an additional 4,251,371 shares in the last quarter. Point72 Europe London LLP lifted its holdings in shares of Intercontinental Exchange by 10.9% in the fourth quarter. Point72 Europe London LLP now owns 66,300 shares of the financial services provider’s stock valued at $8,515,000 after buying an additional 6,500 shares during the period. Perpetual Ltd grew its holdings in Intercontinental Exchange by 0.4% during the first quarter. Perpetual Ltd now owns 1,487,993 shares of the financial services provider’s stock worth $204,495,000 after acquiring an additional 6,272 shares during the period. Assenagon Asset Management S.A. raised its position in Intercontinental Exchange by 819.7% in the second quarter. Assenagon Asset Management S.A. now owns 137,074 shares of the financial services provider’s stock worth $18,764,000 after acquiring an additional 122,169 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in Intercontinental Exchange by 7.0% in the 1st quarter. Russell Investments Group Ltd. now owns 317,544 shares of the financial services provider’s stock valued at $43,617,000 after acquiring an additional 20,802 shares during the last quarter. 89.30% of the stock is owned by institutional investors and hedge funds.

Intercontinental Exchange Stock Up 0.3 %

Intercontinental Exchange stock opened at $158.64 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.69. Intercontinental Exchange, Inc. has a 1-year low of $104.49 and a 1-year high of $163.71. The firm’s fifty day simple moving average is $156.89 and its 200-day simple moving average is $143.46. The company has a market capitalization of $90.99 billion, a P/E ratio of 36.39, a P/E/G ratio of 2.81 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, August 1st. The financial services provider reported $1.52 EPS for the quarter, beating the consensus estimate of $1.49 by $0.03. The company had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.31 billion. Intercontinental Exchange had a return on equity of 12.70% and a net margin of 21.43%. The company’s revenue for the quarter was up 22.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.43 earnings per share. Sell-side analysts forecast that Intercontinental Exchange, Inc. will post 6.04 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ICE has been the topic of several recent research reports. The Goldman Sachs Group raised shares of Intercontinental Exchange from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $143.00 to $167.00 in a research note on Monday, July 1st. Citigroup upped their price target on Intercontinental Exchange from $160.00 to $162.00 and gave the company a “buy” rating in a report on Tuesday, July 9th. Deutsche Bank Aktiengesellschaft raised their price objective on Intercontinental Exchange from $152.00 to $154.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. Barclays upped their target price on Intercontinental Exchange from $159.00 to $167.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Finally, StockNews.com cut Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Friday, September 6th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $162.47.

Insider Activity at Intercontinental Exchange

In other news, CTO Mayur Kapani sold 395 shares of the firm’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $141.13, for a total transaction of $55,746.35. Following the completion of the transaction, the chief technology officer now directly owns 64,471 shares of the company’s stock, valued at approximately $9,098,792.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CTO Mayur Kapani sold 395 shares of the business’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $141.13, for a total value of $55,746.35. Following the sale, the chief technology officer now owns 64,471 shares in the company, valued at approximately $9,098,792.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jeffrey C. Sprecher sold 58,389 shares of Intercontinental Exchange stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $141.68, for a total transaction of $8,272,553.52. Following the transaction, the chief executive officer now directly owns 1,179,993 shares of the company’s stock, valued at $167,181,408.24. The disclosure for this sale can be found here. Insiders have sold 66,268 shares of company stock worth $9,508,809 over the last three months. Company insiders own 1.10% of the company’s stock.

Intercontinental Exchange Company Profile

Intercontinental Exchange, Inc, together with its subsidiaries, engages in the provision of market infrastructure, data services, and technology solutions for financial institutions, corporations, and government entities in the United States, the United Kingdom, the European Union, Singapore, India, Abu Dhabi, Israel, and Canada.