EFG Asset Management Americas Corp. Cuts Stock Position in Intercontinental Exchange Inc (NYSE:ICE)

Share on StockTwits

EFG Asset Management Americas Corp. lessened its holdings in Intercontinental Exchange Inc (NYSE:ICE) by 50.8% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 39,120 shares of the financial services provider’s stock after selling 40,375 shares during the period. EFG Asset Management Americas Corp.’s holdings in Intercontinental Exchange were worth $3,583,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of ICE. Guggenheim Capital LLC boosted its holdings in shares of Intercontinental Exchange by 19.7% during the 4th quarter. Guggenheim Capital LLC now owns 208,393 shares of the financial services provider’s stock valued at $19,287,000 after purchasing an additional 34,229 shares during the last quarter. Sunbelt Securities Inc. bought a new position in shares of Intercontinental Exchange during the 4th quarter valued at about $14,646,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Intercontinental Exchange during the 4th quarter valued at about $831,000. Quadrant Capital Group LLC boosted its holdings in shares of Intercontinental Exchange by 12.9% during the 4th quarter. Quadrant Capital Group LLC now owns 4,095 shares of the financial services provider’s stock valued at $363,000 after purchasing an additional 468 shares during the last quarter. Finally, First National Bank of Mount Dora Trust Investment Services bought a new position in shares of Intercontinental Exchange during the 1st quarter valued at about $987,000. Institutional investors and hedge funds own 87.47% of the company’s stock.

Several research analysts have commented on ICE shares. Deutsche Bank dropped their price objective on shares of Intercontinental Exchange from $114.00 to $111.00 and set a “buy” rating for the company in a report on Thursday, July 9th. Berenberg Bank raised shares of Intercontinental Exchange from a “hold” rating to a “buy” rating and increased their price objective for the company from $101.00 to $106.00 in a report on Monday, April 20th. UBS Group lowered their price target on shares of Intercontinental Exchange from $116.00 to $114.00 and set a “buy” rating for the company in a report on Thursday, June 4th. Barclays increased their price target on shares of Intercontinental Exchange from $95.00 to $100.00 in a report on Friday, May 1st. Finally, Citigroup increased their price target on shares of Intercontinental Exchange from $102.00 to $107.00 and gave the company a “buy” rating in a report on Monday, July 20th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $103.64.

In other news, Director William Jefferson Hague sold 733 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $96.32, for a total transaction of $70,602.56. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, President Benjamin Jackson sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $95.03, for a total transaction of $95,030.00. The disclosure for this sale can be found here. In the last three months, insiders sold 111,486 shares of company stock valued at $10,632,325. 1.50% of the stock is owned by insiders.

NYSE ICE traded up $2.41 during trading on Friday, hitting $96.78. The stock had a trading volume of 3,423,695 shares, compared to its average volume of 2,451,413. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a market capitalization of $51.64 billion, a price-to-earnings ratio of 25.07, a P/E/G ratio of 2.65 and a beta of 0.54. Intercontinental Exchange Inc has a one year low of $63.51 and a one year high of $101.93. The stock has a 50 day simple moving average of $93.21 and a 200 day simple moving average of $91.48.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.04 by $0.03. The business had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.39 billion. Intercontinental Exchange had a net margin of 29.01% and a return on equity of 14.14%. The firm’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.94 earnings per share. On average, sell-side analysts predict that Intercontinental Exchange Inc will post 4.42 EPS for the current year.

Intercontinental Exchange Profile

Intercontinental Exchange, Inc operates regulated exchanges, clearing houses, and listings venues for commodity, financial, fixed income, and equity markets in the United States, the United Kingdom, European Union, Singapore, Israel, and Canada. It operates in two segments, Trading and Clearing; and Data and Listings.

Featured Article: Bollinger Bands

Want to see what other hedge funds are holding ICE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Intercontinental Exchange Inc (NYSE:ICE).

Institutional Ownership by Quarter for Intercontinental Exchange (NYSE:ICE)

Receive News & Ratings for Intercontinental Exchange Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intercontinental Exchange and related companies with MarketBeat.com's FREE daily email newsletter.