Assenagon Asset Management S.A. Decreases Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Assenagon Asset Management S.A. lowered its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 37.5% during the fourth quarter, HoldingsChannel reports. The fund owned 450,597 shares of the financial services provider’s stock after selling 270,877 shares during the period. Assenagon Asset Management S.A.’s holdings in Intercontinental Exchange were worth $67,143,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Rockland Trust Co. increased its stake in Intercontinental Exchange by 4,001.9% in the fourth quarter. Rockland Trust Co. now owns 107,838 shares of the financial services provider’s stock valued at $16,069,000 after purchasing an additional 105,209 shares during the last quarter. Fifth Third Wealth Advisors LLC boosted its holdings in shares of Intercontinental Exchange by 14.3% in the 4th quarter. Fifth Third Wealth Advisors LLC now owns 8,303 shares of the financial services provider’s stock valued at $1,237,000 after buying an additional 1,040 shares in the last quarter. Community Trust & Investment Co. grew its position in shares of Intercontinental Exchange by 1.4% in the 4th quarter. Community Trust & Investment Co. now owns 125,284 shares of the financial services provider’s stock valued at $18,668,000 after buying an additional 1,680 shares during the last quarter. Bright Rock Capital Management LLC acquired a new stake in Intercontinental Exchange during the 4th quarter worth $4,470,000. Finally, Crestmont Private Wealth LLC lifted its position in Intercontinental Exchange by 3.3% in the fourth quarter. Crestmont Private Wealth LLC now owns 3,665 shares of the financial services provider’s stock valued at $546,000 after acquiring an additional 116 shares during the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Intercontinental Exchange Trading Up 2.0 %

Shares of Intercontinental Exchange stock opened at $148.11 on Thursday. The firm has a market cap of $85.04 billion, a price-to-earnings ratio of 35.10, a price-to-earnings-growth ratio of 2.57 and a beta of 1.10. Intercontinental Exchange, Inc. has a 52-week low of $124.34 and a 52-week high of $167.99. The company’s 50-day simple moving average is $153.62 and its 200-day simple moving average is $155.53. 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 (NYSE:ICE) last released its earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.55. The company had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.35 billion. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The firm’s quarterly revenue was up 17.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.46 EPS. As a group, equities research analysts anticipate that Intercontinental Exchange, Inc. will post 6.07 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have issued reports on ICE. The Goldman Sachs Group raised their price objective on Intercontinental Exchange from $171.00 to $185.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Barclays dropped their price target on Intercontinental Exchange from $187.00 to $179.00 and set an “overweight” rating on the stock in a research note on Monday. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 price objective on shares of Intercontinental Exchange in a research note on Tuesday, January 7th. TD Cowen began coverage on Intercontinental Exchange in a report on Thursday, September 26th. They issued a “buy” rating and a $182.00 price objective for the company. Finally, 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. One analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Intercontinental Exchange has a consensus rating of “Moderate Buy” and a consensus price target of $175.20.

Insider Buying and Selling

In other news, President Benjamin Jackson sold 5,828 shares of Intercontinental Exchange stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $160.00, for a total transaction of $932,480.00. Following the completion of the sale, the president now directly owns 156,163 shares in the company, valued at approximately $24,986,080. This trade represents a 3.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Stuart Glen Williams sold 750 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $152.99, for a total value of $114,742.50. Following the completion of the sale, the chief operating officer now owns 12,780 shares in the company, valued at approximately $1,955,212.20. This represents a 5.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,533 shares of company stock valued at $1,196,279 over the last quarter. Company insiders own 1.10% of the company’s stock.

Intercontinental Exchange 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.