Independent Franchise Partners LLP Cuts Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Independent Franchise Partners LLP cut its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 4.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,637,011 shares of the financial services provider’s stock after selling 285,467 shares during the quarter. Intercontinental Exchange makes up 7.1% of Independent Franchise Partners LLP’s portfolio, making the stock its 2nd largest holding. Independent Franchise Partners LLP owned about 0.98% of Intercontinental Exchange worth $771,650,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. American National Bank grew its stake in Intercontinental Exchange by 13.8% during the 2nd quarter. American National Bank now owns 569 shares of the financial services provider’s stock worth $78,000 after buying an additional 69 shares during the last quarter. Catalyst Financial Partners LLC lifted its position in Intercontinental Exchange by 3.4% in the 2nd quarter. Catalyst Financial Partners LLC now owns 2,223 shares of the financial services provider’s stock valued at $304,000 after purchasing an additional 73 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its stake in Intercontinental Exchange by 1.8% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 4,083 shares of the financial services provider’s stock valued at $559,000 after purchasing an additional 74 shares during the period. Founders Financial Securities LLC grew its position in Intercontinental Exchange by 4.8% in the 2nd quarter. Founders Financial Securities LLC now owns 1,600 shares of the financial services provider’s stock worth $219,000 after purchasing an additional 74 shares during the last quarter. Finally, Pettyjohn Wood & White Inc. increased its stake in shares of Intercontinental Exchange by 0.5% in the fourth quarter. Pettyjohn Wood & White Inc. now owns 15,813 shares of the financial services provider’s stock valued at $2,031,000 after purchasing an additional 75 shares during the period. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Intercontinental Exchange Stock Up 0.6 %

Shares of Intercontinental Exchange stock opened at $159.84 on Friday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.69. Intercontinental Exchange, Inc. has a 12-month low of $104.49 and a 12-month high of $163.71. The firm has a market capitalization of $91.68 billion, a PE ratio of 36.66, a price-to-earnings-growth ratio of 2.81 and a beta of 1.08. The stock’s fifty day moving average is $155.82 and its 200-day moving average is $142.77.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.52 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.03. The company had revenue of $2.32 billion during the quarter, compared to analyst estimates of $2.31 billion. Intercontinental Exchange had a net margin of 21.43% and a return on equity of 12.70%. The business’s quarterly revenue was up 22.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.43 earnings per share. Equities analysts anticipate that Intercontinental Exchange, Inc. will post 6.04 earnings per share for the current year.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 1,898 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $136.66, for a total transaction of $259,380.68. Following the transaction, the general counsel now directly owns 46,815 shares in the company, valued at approximately $6,397,737.90. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Jeffrey C. Sprecher sold 58,389 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now directly owns 1,179,993 shares in the company, valued at $167,181,408.24. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 1,898 shares of the company’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $136.66, for a total transaction of $259,380.68. Following the completion of the transaction, the general counsel now owns 46,815 shares in the company, valued at approximately $6,397,737.90. The disclosure for this sale can be found here. In the last 90 days, insiders sold 68,166 shares of company stock worth $9,768,190. 1.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently issued reports on ICE shares. JPMorgan Chase & Co. increased their price objective on Intercontinental Exchange from $151.00 to $171.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $168.00 price objective on shares of Intercontinental Exchange in a research note on Tuesday, August 6th. Citigroup increased their target price on shares of Intercontinental Exchange from $160.00 to $162.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. Barclays boosted their price target on shares of Intercontinental Exchange from $159.00 to $167.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Finally, The Goldman Sachs Group upgraded shares of Intercontinental Exchange from a “neutral” rating to a “buy” rating and increased their price objective for the company from $143.00 to $167.00 in a report on Monday, July 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $158.08.

About Intercontinental Exchange

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.