Intercontinental Exchange Inc. $ICE Shares Sold by Amova Asset Management Americas Inc.

Amova Asset Management Americas Inc. lowered its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 10.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 90,447 shares of the financial services provider’s stock after selling 10,108 shares during the quarter. Amova Asset Management Americas Inc.’s holdings in Intercontinental Exchange were worth $14,652,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Norges Bank acquired a new stake in shares of Intercontinental Exchange in the fourth quarter valued at approximately $1,418,228,000. Wellington Management Group LLP lifted its holdings in Intercontinental Exchange by 64.7% in the third quarter. Wellington Management Group LLP now owns 10,354,224 shares of the financial services provider’s stock valued at $1,744,480,000 after acquiring an additional 4,067,922 shares during the last quarter. Waverton Investment Management Ltd lifted its holdings in Intercontinental Exchange by 28,886.8% in the third quarter. Waverton Investment Management Ltd now owns 1,526,734 shares of the financial services provider’s stock valued at $257,163,000 after acquiring an additional 1,521,467 shares during the last quarter. Eurizon Capital SGR S.p.A. acquired a new position in Intercontinental Exchange in the fourth quarter valued at approximately $213,286,000. Finally, Swedbank AB lifted its holdings in Intercontinental Exchange by 43.3% in the fourth quarter. Swedbank AB now owns 3,527,115 shares of the financial services provider’s stock valued at $571,252,000 after acquiring an additional 1,064,967 shares during the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Insiders Place Their Bets

In related news, Director Sharon Bowen sold 667 shares of the stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $151.28, for a total value of $100,903.76. Following the transaction, the director owned 15,077 shares of the company’s stock, valued at $2,280,848.56. This represents a 4.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Warren Gardiner sold 2,490 shares of the firm’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $156.64, for a total value of $390,033.60. Following the transaction, the chief financial officer directly owned 25,189 shares in the company, valued at approximately $3,945,604.96. The trade was a 9.00% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 12,001 shares of company stock worth $1,847,820. 0.84% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

ICE has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft upgraded Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 price objective on the stock in a report on Friday, March 6th. UBS Group reiterated a “buy” rating and issued a $205.00 price objective on shares of Intercontinental Exchange in a report on Wednesday, May 20th. Morgan Stanley upped their price objective on Intercontinental Exchange from $183.00 to $187.00 and gave the company an “equal weight” rating in a report on Friday, April 10th. Weiss Ratings cut Intercontinental Exchange from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, June 2nd. Finally, Keefe, Bruyette & Woods initiated coverage on Intercontinental Exchange in a report on Wednesday, April 8th. They issued an “outperform” rating and a $190.00 price objective on the stock. One research 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’s stock. According to MarketBeat.com, Intercontinental Exchange has an average rating of “Moderate Buy” and a consensus price target of $194.60.

Intercontinental Exchange Trading Up 1.7%

ICE opened at $141.48 on Wednesday. Intercontinental Exchange Inc. has a 12 month low of $136.67 and a 12 month high of $189.35. The stock has a market capitalization of $80.01 billion, a price-to-earnings ratio of 20.59, a PEG ratio of 1.33 and a beta of 0.92. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01. The business has a fifty day moving average price of $155.27 and a 200 day moving average price of $159.60.

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

About Intercontinental Exchange

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.