Intercontinental Exchange Inc. (ICE) Holdings Trimmed by Royal Bank of Canada

Royal Bank of Canada cut its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 35.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 260,482 shares of the financial services provider’s stock after selling 146,156 shares during the period. Royal Bank of Canada’s holdings in Intercontinental Exchange were worth $17,172,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ICE. Teachers Advisors LLC lifted its stake in Intercontinental Exchange by 13.7% during the first quarter. Teachers Advisors LLC now owns 1,064,673 shares of the financial services provider’s stock worth $63,742,000 after purchasing an additional 128,422 shares during the last quarter. California Public Employees Retirement System lifted its stake in Intercontinental Exchange by 6.1% during the first quarter. California Public Employees Retirement System now owns 1,268,335 shares of the financial services provider’s stock worth $75,935,000 after purchasing an additional 72,400 shares during the last quarter. Marietta Investment Partners LLC lifted its stake in Intercontinental Exchange by 1.1% during the first quarter. Marietta Investment Partners LLC now owns 13,960 shares of the financial services provider’s stock worth $836,000 after purchasing an additional 150 shares during the last quarter. Stephens Inc. AR lifted its stake in Intercontinental Exchange by 7.7% during the first quarter. Stephens Inc. AR now owns 11,054 shares of the financial services provider’s stock worth $662,000 after purchasing an additional 792 shares during the last quarter. Finally, Israel Discount Bank of New York bought a new stake in Intercontinental Exchange during the first quarter worth $974,000. Hedge funds and other institutional investors own 89.75% of the company’s stock.

Several research firms have weighed in on ICE. Barclays PLC upped their target price on Intercontinental Exchange from $72.00 to $78.00 and gave the stock an “overweight” rating in a research note on Tuesday. Keefe, Bruyette & Woods restated a “buy” rating and set a $73.00 target price on shares of Intercontinental Exchange in a research note on Sunday, October 8th. Wells Fargo & Company upped their target price on Intercontinental Exchange from $65.00 to $73.00 and gave the stock a “market perform” rating in a research note on Thursday, October 5th. Zacks Investment Research upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Thursday, October 5th. Finally, Jefferies Group LLC restated a “buy” rating and set a $73.00 target price on shares of Intercontinental Exchange in a research note on Wednesday, August 23rd. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $70.78.

In other Intercontinental Exchange news, CFO Scott A. Hill sold 37,630 shares of the business’s stock in a transaction dated Wednesday, October 4th. The shares were sold at an average price of $70.03, for a total value of $2,635,228.90. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Jeffrey C. Sprecher sold 80,420 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $65.24, for a total transaction of $5,246,600.80. The disclosure for this sale can be found here. Insiders sold 155,550 shares of company stock valued at $10,394,455 over the last three months. 1.50% of the stock is currently owned by insiders.

Shares of Intercontinental Exchange Inc. (NYSE:ICE) opened at 69.91 on Friday. Intercontinental Exchange Inc. has a 12-month low of $52.27 and a 12-month high of $71.24. The company has a 50-day moving average price of $67.03 and a 200-day moving average price of $63.87. The firm has a market capitalization of $8.04 billion, a P/E ratio of 25.90 and a beta of 0.74.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, August 3rd. The financial services provider reported $0.75 earnings per share for the quarter, hitting the consensus estimate of $0.75. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.17 billion. Intercontinental Exchange had a net margin of 27.56% and a return on equity of 10.80%. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.69 earnings per share. Equities analysts predict that Intercontinental Exchange Inc. will post $2.95 EPS for the current year.

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Intercontinental Exchange Company Profile

Intercontinental Exchange Inc, formerly IntercontinentalExchange Group, Inc, is a network of regulated exchanges and clearing houses for financial and commodity markets. The Company delivers transparent and accessible data, technology and risk management services to markets around the world through its portfolio of exchanges, including the New York Stock Exchange, ICE Futures, Liffe and Euronext.

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Institutional Ownership by Quarter for Intercontinental Exchange (NYSE:ICE)

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