Pitcairn Co. Sells 4,160 Shares of Intercontinental Exchange Inc. $ICE

by · The Cerbat Gem

Pitcairn Co. lessened its holdings in Intercontinental Exchange Inc. (NYSE:ICE – Free Report) by 25.3% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 12,273 shares of the financial services provider’s stock after selling 4,160 shares during the quarter. Pitcairn Co.’s holdings in Intercontinental Exchange were worth $2,252,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Princeton Global Asset Management LLC bought a new stake in shares of Intercontinental Exchange in the 2nd quarter valued at approximately $28,000. Activest Wealth Management boosted its stake in Intercontinental Exchange by 4,050.0% in the 1st quarter. Activest Wealth Management now owns 166 shares of the financial services provider’s stock valued at $29,000 after buying an additional 162 shares in the last quarter. Westside Investment Management Inc. bought a new stake in Intercontinental Exchange in the second quarter valued at $29,000. Hilltop National Bank acquired a new position in Intercontinental Exchange during the second quarter worth $31,000. Finally, Knuff & Co LLC raised its stake in Intercontinental Exchange by 73.3% during the second quarter. Knuff & Co LLC now owns 175 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 74 shares in the last quarter. Institutional investors own 89.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on ICE shares. JPMorgan Chase & Co. lowered their target price on shares of Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating on the stock in a report on Friday, October 31st. UBS Group reduced their price target on shares of Intercontinental Exchange from $215.00 to $200.00 and set a “buy” rating on the stock in a research report on Friday, October 31st. Morgan Stanley dropped their price objective on shares of Intercontinental Exchange from $188.00 to $178.00 and set an “equal weight” rating for the company in a report on Tuesday, October 21st. Barclays set a $183.00 target price on shares of Intercontinental Exchange and gave the company an “overweight” rating in a research note on Friday, October 31st. Finally, TD Cowen decreased their price target on Intercontinental Exchange from $199.00 to $175.00 and set a “buy” rating on the stock in a research report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Intercontinental Exchange currently has a consensus rating of “Buy” and a consensus price target of $194.70.

Check Out Our Latest Stock Report on ICE

Intercontinental Exchange Price Performance

Shares of ICE stock opened at $163.21 on Monday. Intercontinental Exchange Inc. has a 1 year low of $142.29 and a 1 year high of $189.35. The firm’s 50 day moving average is $154.98 and its 200-day moving average is $170.11. The firm has a market capitalization of $93.06 billion, a price-to-earnings ratio of 29.73, a PEG ratio of 2.53 and a beta of 1.04. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61.

Intercontinental Exchange (NYSE:ICE – Get Free Report) last issued its quarterly earnings results on Thursday, October 30th. The financial services provider reported $1.71 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.71. Intercontinental Exchange had a net margin of 25.24% and a return on equity of 13.79%. The business had revenue of $3.01 billion during the quarter, compared to analyst estimates of $2.49 billion. During the same quarter last year, the business posted $1.55 earnings per share. Intercontinental Exchange’s revenue for the quarter was up 2.6% compared to the same quarter last year. Sell-side analysts forecast that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Warren Gardiner sold 1,572 shares of the firm’s stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $153.65, for a total value of $241,537.80. Following the transaction, the chief financial officer owned 20,534 shares in the company, valued at $3,155,049.10. This trade represents a 7.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the business’s stock in a transaction dated Wednesday, November 19th. The stock was sold at an average price of $153.08, for a total value of $22,962,000.00. Following the sale, the chief executive officer directly owned 1,801,705 shares of the company’s stock, valued at $275,805,001.40. This represents a 7.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 175,489 shares of company stock worth $26,972,956. 1.00% of the stock is currently owned by company insiders.

Intercontinental Exchange Profile

(Free Report)

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.

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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 – Free Report).