Anchor Investment Management LLC Lowers Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Anchor Investment Management LLC lowered its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 2.5% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,395 shares of the financial services provider’s stock after selling 215 shares during the period. Anchor Investment Management LLC’s holdings in Intercontinental Exchange were worth $1,348,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Virtu Financial LLC purchased a new position in shares of Intercontinental Exchange during the 3rd quarter valued at about $2,817,000. M&T Bank Corp raised its holdings in shares of Intercontinental Exchange by 33.2% during the 3rd quarter. M&T Bank Corp now owns 46,689 shares of the financial services provider’s stock valued at $7,500,000 after buying an additional 11,648 shares in the last quarter. TCW Group Inc. raised its holdings in shares of Intercontinental Exchange by 2.3% during the 3rd quarter. TCW Group Inc. now owns 703,244 shares of the financial services provider’s stock valued at $112,969,000 after buying an additional 15,953 shares in the last quarter. Soltis Investment Advisors LLC purchased a new position in shares of Intercontinental Exchange during the 3rd quarter valued at about $233,000. Finally, Rehmann Capital Advisory Group raised its holdings in shares of Intercontinental Exchange by 1.9% during the 3rd quarter. Rehmann Capital Advisory Group now owns 6,843 shares of the financial services provider’s stock valued at $1,101,000 after buying an additional 128 shares in the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Insiders Place Their Bets

In other Intercontinental Exchange news, President Benjamin Jackson sold 5,828 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $160.00, for a total value of $932,480.00. Following the sale, the president now directly owns 156,163 shares of the company’s stock, valued at approximately $24,986,080. The trade was a 3.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Andrew J. Surdykowski sold 955 shares of the business’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $156.08, for a total value of $149,056.40. Following the completion of the sale, the general counsel now directly owns 44,702 shares in the company, valued at $6,977,088.16. This trade represents a 2.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,901 shares of company stock valued at $1,582,542. 1.10% of the stock is currently owned by corporate insiders.

Intercontinental Exchange Trading Down 1.0 %

NYSE ICE opened at $156.55 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.68. Intercontinental Exchange, Inc. has a twelve month low of $117.49 and a twelve month high of $167.99. The firm has a market capitalization of $89.89 billion, a PE ratio of 37.10, a P/E/G ratio of 2.61 and a beta of 1.08. The stock’s 50 day moving average is $160.18 and its 200 day moving average is $153.08.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, meeting the consensus estimate 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 for the quarter, compared to analyst estimates of $2.35 billion. During the same period in the previous year, the company posted $1.46 earnings per share. The firm’s revenue was up 17.3% on a year-over-year basis. Research analysts forecast that Intercontinental Exchange, Inc. will post 6.07 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently weighed in on ICE. Royal Bank of Canada reissued an “outperform” rating and set a $200.00 price objective on shares of Intercontinental Exchange in a report on Friday, November 1st. The Goldman Sachs Group lifted their price target on Intercontinental Exchange from $171.00 to $185.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. TD Cowen started coverage on Intercontinental Exchange in a research note on Thursday, September 26th. They issued a “buy” rating and a $182.00 price target on the stock. Morgan Stanley lifted their price target on Intercontinental Exchange from $160.00 to $174.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Finally, JPMorgan Chase & Co. lifted their price target on Intercontinental Exchange from $171.00 to $188.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $175.07.

Intercontinental Exchange Company Profile

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.