Chevy Chase Trust Holdings LLC Reduces Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

Chevy Chase Trust Holdings LLC reduced its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 1.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 313,302 shares of the financial services provider’s stock after selling 3,917 shares during the quarter. Chevy Chase Trust Holdings LLC owned approximately 0.05% of Intercontinental Exchange worth $42,888,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in Intercontinental Exchange during the 4th quarter worth about $839,259,000. Wellington Management Group LLP lifted its stake in Intercontinental Exchange by 35.0% during the 4th quarter. Wellington Management Group LLP now owns 16,397,991 shares of the financial services provider’s stock worth $2,105,994,000 after acquiring an additional 4,251,371 shares in the last quarter. Vanguard Group Inc. lifted its stake in Intercontinental Exchange by 7.5% during the 1st quarter. Vanguard Group Inc. now owns 50,776,525 shares of the financial services provider’s stock worth $6,978,218,000 after acquiring an additional 3,536,913 shares in the last quarter. Capital World Investors lifted its stake in Intercontinental Exchange by 35.6% during the 4th quarter. Capital World Investors now owns 9,643,762 shares of the financial services provider’s stock worth $1,238,559,000 after acquiring an additional 2,530,119 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in Intercontinental Exchange by 303.1% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,381,314 shares of the financial services provider’s stock worth $305,832,000 after acquiring an additional 1,790,493 shares in the last quarter. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Intercontinental Exchange Stock Up 0.2 %

Shares of ICE traded up $0.26 during mid-day trading on Wednesday, reaching $158.01. The company’s stock had a trading volume of 549,822 shares, compared to its average volume of 2,458,461. Intercontinental Exchange, Inc. has a 12-month low of $104.49 and a 12-month high of $158.46. The stock has a market cap of $90.63 billion, a PE ratio of 36.12, a price-to-earnings-growth ratio of 2.68 and a beta of 1.06. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 1.01. The company’s 50 day moving average is $145.90 and its 200 day moving average is $138.78.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, August 1st. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.03. The firm had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.31 billion. Intercontinental Exchange had a return on equity of 12.70% and a net margin of 21.43%. The firm’s quarterly revenue was up 22.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.43 EPS. Equities analysts anticipate that Intercontinental Exchange, Inc. will post 6 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on ICE shares. The Goldman Sachs Group upgraded Intercontinental Exchange from a “neutral” rating to a “buy” rating and upped their price target for the stock from $143.00 to $167.00 in a report on Monday, July 1st. Rosenblatt Securities restated a “buy” rating and set a $164.00 price target on shares of Intercontinental Exchange in a report on Friday, May 3rd. Argus restated a “buy” rating and set a $153.00 price target on shares of Intercontinental Exchange in a report on Tuesday, May 21st. Citigroup upped their price target on Intercontinental Exchange from $160.00 to $162.00 and gave the stock a “buy” rating in a report on Tuesday, July 9th. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and set a $168.00 price target on shares of Intercontinental Exchange in a report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Intercontinental Exchange currently has a consensus rating of “Moderate Buy” and a consensus price target of $154.93.

Insider Buying and Selling

In related news, CAO James W. Namkung sold 1,043 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $150.00, for a total transaction of $156,450.00. Following the transaction, the chief accounting officer now owns 17,836 shares in the company, valued at approximately $2,675,400. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Intercontinental Exchange news, CAO James W. Namkung sold 1,043 shares of the stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $150.00, for a total transaction of $156,450.00. Following the completion of the sale, the chief accounting officer now directly owns 17,836 shares of the company’s stock, valued at approximately $2,675,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Christopher Scott Edmonds sold 1,000 shares of the stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $148.60, for a total value of $148,600.00. Following the sale, the insider now directly owns 14,636 shares of the company’s stock, valued at $2,174,909.60. The disclosure for this sale can be found here. Insiders have sold 64,992 shares of company stock worth $9,197,801 in the last quarter. 1.10% of the stock is owned by insiders.

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.