Bank of New York Mellon Corp Decreases Stock Holdings in Intercontinental Exchange Inc. $ICE

Bank of New York Mellon Corp lowered its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 41.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 3,334,739 shares of the financial services provider’s stock after selling 2,314,828 shares during the period. Bank of New York Mellon Corp’s holdings in Intercontinental Exchange were worth $540,094,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in ICE. Ares Financial Consulting LLC purchased a new stake in Intercontinental Exchange during the fourth quarter worth about $25,000. Holos Integrated Wealth LLC purchased a new stake in Intercontinental Exchange during the fourth quarter worth about $28,000. Steph & Co. boosted its holdings in Intercontinental Exchange by 104.7% during the fourth quarter. Steph & Co. now owns 174 shares of the financial services provider’s stock worth $28,000 after buying an additional 89 shares in the last quarter. Dorato Capital Management purchased a new stake in Intercontinental Exchange during the fourth quarter worth about $29,000. Finally, Lloyd Advisory Services LLC. purchased a new stake in Intercontinental Exchange during the fourth quarter worth about $30,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Performance

Shares of ICE opened at $138.49 on Thursday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63. The stock has a market cap of $78.31 billion, a P/E ratio of 20.16, a PEG ratio of 1.37 and a beta of 0.92. The company has a 50-day moving average of $156.42 and a two-hundred day moving average of $159.92. Intercontinental Exchange Inc. has a 12-month low of $136.67 and a 12-month high of $189.35.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.23 by $0.12. The company had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $2.88 billion. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The firm’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.72 earnings per share. As a group, research analysts predict that Intercontinental Exchange Inc. will post 8.16 EPS for the current fiscal year.

Analysts Set New Price Targets

ICE has been the topic of a number of research analyst reports. UBS Group reissued a “buy” rating and set a $205.00 price objective on shares of Intercontinental Exchange in a report on Wednesday, May 20th. Keefe, Bruyette & Woods initiated coverage on shares of Intercontinental Exchange in a report on Wednesday, April 8th. They set an “outperform” rating and a $190.00 price objective on the stock. Weiss Ratings downgraded shares of Intercontinental Exchange from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday. TD Cowen restated a “buy” rating on shares of Intercontinental Exchange in a research report on Friday, February 6th. Finally, Wall Street Zen upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $194.60.

Insider Buying and Selling at Intercontinental Exchange

In other news, CTO Mayur Kapani sold 4,271 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $155.42, for a total value of $663,798.82. Following the completion of the transaction, the chief technology officer owned 64,869 shares of the company’s stock, valued at $10,081,939.98. The trade was a 6.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Sharon Bowen sold 667 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $151.28, for a total transaction of $100,903.76. Following the completion of the transaction, the director directly owned 15,077 shares of the company’s stock, valued at approximately $2,280,848.56. This represents a 4.24% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 12,001 shares of company stock worth $1,847,820. 0.84% of the stock is currently owned by insiders.

Intercontinental Exchange Profile

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.