MetLife Investment Management LLC Sells 3,707 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

MetLife Investment Management LLC lessened its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 2.4% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 149,188 shares of the financial services provider’s stock after selling 3,707 shares during the period. MetLife Investment Management LLC’s holdings in Intercontinental Exchange were worth $23,966,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. FMR LLC lifted its holdings in Intercontinental Exchange by 44.1% during the third quarter. FMR LLC now owns 7,846,421 shares of the financial services provider’s stock valued at $1,260,449,000 after purchasing an additional 2,401,630 shares in the last quarter. Parnassus Investments LLC boosted its holdings in Intercontinental Exchange by 4.0% in the 3rd quarter. Parnassus Investments LLC now owns 7,838,727 shares of the financial services provider’s stock worth $1,259,213,000 after buying an additional 299,037 shares during the period. Legal & General Group Plc increased its stake in Intercontinental Exchange by 4.5% in the 2nd quarter. Legal & General Group Plc now owns 4,453,286 shares of the financial services provider’s stock worth $609,609,000 after buying an additional 191,763 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Intercontinental Exchange by 0.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,142,092 shares of the financial services provider’s stock valued at $504,746,000 after acquiring an additional 21,615 shares during the period. Finally, Clearbridge Investments LLC lifted its position in shares of Intercontinental Exchange by 10.4% in the second quarter. Clearbridge Investments LLC now owns 3,019,195 shares of the financial services provider’s stock valued at $413,298,000 after acquiring an additional 284,664 shares in the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Insider Buying and Selling

In other Intercontinental Exchange news, insider Christopher Scott Edmonds sold 602 shares of Intercontinental Exchange stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $162.81, for a total transaction of $98,011.62. Following the completion of the transaction, the insider now owns 14,034 shares in the company, valued at approximately $2,284,875.54. This trade represents a 4.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, President Benjamin Jackson sold 5,828 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $160.00, for a total value of $932,480.00. Following the completion of the sale, the president now owns 156,163 shares in the company, valued at $24,986,080. The trade was a 3.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,696 shares of company stock worth $1,554,559 in the last three months. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on ICE shares. JPMorgan Chase & Co. lifted their target price on Intercontinental Exchange from $171.00 to $188.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Morgan Stanley boosted their price target on shares of Intercontinental Exchange from $160.00 to $174.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. The Goldman Sachs Group lifted their target price 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 $179.00 to $173.00 and set an “overweight” rating for the company in a research report on Friday, November 1st. Finally, Bank of America lifted their target price on Intercontinental Exchange from $168.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. One research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $174.13.

Intercontinental Exchange Stock Up 0.4 %

Intercontinental Exchange stock opened at $161.14 on Thursday. Intercontinental Exchange, Inc. has a 1-year low of $111.82 and a 1-year high of $167.99. The business has a fifty day moving average price of $160.55 and a 200-day moving average price of $151.59. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.00 and a quick ratio of 1.00. The stock has a market capitalization of $92.52 billion, a price-to-earnings ratio of 38.18, a PEG ratio of 2.64 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, October 31st. The financial services provider reported $1.55 EPS for the quarter, meeting 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 analysts’ expectations of $2.35 billion. During the same period last year, the business posted $1.46 earnings per share. The firm’s revenue was up 17.3% compared to the same quarter last year. Equities research analysts forecast that Intercontinental Exchange, Inc. will post 6.07 EPS for the current fiscal year.

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.