MAI Capital Management Cuts Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

MAI Capital Management reduced its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 21.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 127,347 shares of the financial services provider’s stock after selling 35,301 shares during the quarter. MAI Capital Management’s holdings in Intercontinental Exchange were worth $20,457,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Quintet Private Bank Europe S.A. raised its holdings in Intercontinental Exchange by 13.8% in the 3rd quarter. Quintet Private Bank Europe S.A. now owns 511 shares of the financial services provider’s stock valued at $82,000 after buying an additional 62 shares during the period. Raleigh Capital Management Inc. increased its position in shares of Intercontinental Exchange by 26.4% during the third quarter. Raleigh Capital Management Inc. now owns 302 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 63 shares during the last quarter. Integrated Advisors Network LLC increased its position in shares of Intercontinental Exchange by 4.0% during the third quarter. Integrated Advisors Network LLC now owns 1,714 shares of the financial services provider’s stock valued at $275,000 after acquiring an additional 66 shares during the last quarter. American National Bank raised its stake in shares of Intercontinental Exchange by 13.8% in the 2nd quarter. American National Bank now owns 569 shares of the financial services provider’s stock valued at $78,000 after acquiring an additional 69 shares during the period. Finally, Catalyst Capital Advisors LLC lifted its holdings in shares of Intercontinental Exchange by 6.2% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 1,197 shares of the financial services provider’s stock worth $192,000 after acquiring an additional 70 shares during the last quarter. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Intercontinental Exchange

In related news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the business’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $159.57, for a total value of $326,799.36. Following the completion of the sale, the general counsel now directly owns 44,865 shares of the company’s stock, valued at $7,159,108.05. The trade was a 4.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO James W. Namkung sold 1,171 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $160.00, for a total transaction of $187,360.00. Following the completion of the transaction, the chief accounting officer now owns 16,665 shares of the company’s stock, valued at $2,666,400. This represents a 6.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,489 shares of company stock valued at $1,202,259 over the last three months. 1.10% of the stock is owned by corporate insiders.

Intercontinental Exchange Stock Performance

Shares of ICE stock opened at $155.55 on Monday. The company has a market cap of $89.31 billion, a P/E ratio of 36.86, a PEG ratio of 2.57 and a beta of 1.08. The firm has a fifty day moving average price of $160.97 and a 200 day moving average price of $150.22. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.68. Intercontinental Exchange, Inc. has a 12 month low of $110.64 and a 12 month high of $167.99.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.55. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The company had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same period in the previous year, the business earned $1.46 EPS. Intercontinental Exchange’s revenue for the quarter was up 17.3% on a year-over-year basis. Sell-side analysts predict that Intercontinental Exchange, Inc. will post 6.07 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Bank of America lifted their target price on shares of Intercontinental Exchange from $168.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. TD Cowen assumed coverage on shares of Intercontinental Exchange in a research report on Thursday, September 26th. They set a “buy” rating and a $182.00 price target on the stock. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $168.00 price objective on shares of Intercontinental Exchange in a report on Tuesday, August 6th. Morgan Stanley increased their target price on shares of Intercontinental Exchange from $160.00 to $174.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Finally, Raymond James cut shares of Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 price target for the company. in a research report on Monday, October 14th. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $174.13.

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.