Intercontinental Exchange, Inc. (NYSE:ICE) Shares Sold by Bank of Montreal Can

Bank of Montreal Can trimmed its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 1.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,007,766 shares of the financial services provider’s stock after selling 18,719 shares during the period. Bank of Montreal Can owned 0.18% of Intercontinental Exchange worth $138,598,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Evergreen Capital Management LLC increased its stake in shares of Intercontinental Exchange by 8.3% during the 2nd quarter. Evergreen Capital Management LLC now owns 3,772 shares of the financial services provider’s stock worth $516,000 after purchasing an additional 289 shares in the last quarter. Public Sector Pension Investment Board lifted its stake in shares of Intercontinental Exchange by 212.1% in the 2nd quarter. Public Sector Pension Investment Board now owns 280,883 shares of the financial services provider’s stock valued at $38,450,000 after purchasing an additional 190,886 shares in the last quarter. Commonwealth Financial Services LLC purchased a new stake in shares of Intercontinental Exchange during the 2nd quarter worth about $286,000. DRW Securities LLC increased its position in Intercontinental Exchange by 121.2% during the 2nd quarter. DRW Securities LLC now owns 5,289 shares of the financial services provider’s stock worth $724,000 after purchasing an additional 2,898 shares in the last quarter. Finally, Fairscale Capital LLC purchased a new position in Intercontinental Exchange in the second quarter valued at approximately $25,000. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Intercontinental Exchange Trading Up 0.1 %

NYSE:ICE opened at $159.96 on Tuesday. Intercontinental Exchange, Inc. has a 1-year low of $104.49 and a 1-year high of $163.71. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $91.75 billion, a price-to-earnings ratio of 36.69, a price-to-earnings-growth ratio of 2.81 and a beta of 1.08. The stock has a fifty day simple moving average of $156.07 and a 200 day simple moving average of $142.95.

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

Insider Buying and Selling

In other news, insider Christopher Scott Edmonds sold 1,000 shares of the business’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $148.60, for a total transaction of $148,600.00. Following the transaction, the insider now owns 14,636 shares in the company, valued at approximately $2,174,909.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Intercontinental Exchange news, COO Stuart Glen Williams sold 468 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total value of $76,195.08. Following the completion of the sale, the chief operating officer now owns 13,530 shares in the company, valued at approximately $2,202,819.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Christopher Scott Edmonds sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $148.60, for a total transaction of $148,600.00. Following the transaction, the insider now owns 14,636 shares in the company, valued at $2,174,909.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 68,166 shares of company stock worth $9,768,190. Insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on ICE shares. JPMorgan Chase & Co. boosted their price objective on shares of Intercontinental Exchange from $151.00 to $171.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Barclays lifted their target price on Intercontinental Exchange from $159.00 to $167.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. The Goldman Sachs Group raised Intercontinental Exchange from a “neutral” rating to a “buy” rating and upped their price target for the company from $143.00 to $167.00 in a research report on Monday, July 1st. StockNews.com downgraded shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Friday, September 6th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Intercontinental Exchange from $152.00 to $154.00 and gave the company a “hold” rating in a report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price 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.