Great Lakes Advisors LLC Reduces Holdings in Intercontinental Exchange Inc. $ICE

Great Lakes Advisors LLC trimmed its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 1.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 807,111 shares of the financial services provider’s stock after selling 8,661 shares during the period. Intercontinental Exchange accounts for about 1.1% of Great Lakes Advisors LLC’s investment portfolio, making the stock its 26th biggest holding. Great Lakes Advisors LLC owned about 0.14% of Intercontinental Exchange worth $130,720,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of ICE. Ares Financial Consulting LLC purchased a new stake in shares of Intercontinental Exchange in the 4th quarter worth about $25,000. Holos Integrated Wealth LLC purchased a new stake in shares of Intercontinental Exchange in the 4th quarter worth about $28,000. Steph & Co. lifted its position in shares of Intercontinental Exchange by 104.7% in the 4th quarter. Steph & Co. now owns 174 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 89 shares during the period. Dorato Capital Management purchased a new stake in shares of Intercontinental Exchange in the 4th quarter worth about $29,000. Finally, Lloyd Advisory Services LLC. purchased a new stake in shares of Intercontinental Exchange in the 4th quarter worth about $30,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on ICE shares. UBS Group reiterated a “buy” rating and issued a $205.00 price target on shares of Intercontinental Exchange in a research note on Wednesday, May 20th. Keefe, Bruyette & Woods started coverage on shares of Intercontinental Exchange in a research note on Wednesday, April 8th. They issued an “outperform” rating and a $190.00 price target for the company. Deutsche Bank Aktiengesellschaft upgraded shares of Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 price target for the company in a research note on Friday, March 6th. Rothschild & Co Redburn set a $177.00 price target on shares of Intercontinental Exchange in a research note on Thursday. Finally, Weiss Ratings lowered shares of Intercontinental Exchange from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, June 2nd. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $193.00.

Intercontinental Exchange Stock Down 1.0%

Shares of Intercontinental Exchange stock opened at $138.99 on Friday. 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 company has a 50-day moving average of $154.58 and a 200 day moving average of $159.41. The firm has a market cap of $78.60 billion, a price-to-earnings ratio of 20.23, a PEG ratio of 1.35 and a beta of 0.92. Intercontinental Exchange Inc. has a 1 year low of $136.67 and a 1 year high of $189.35.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, April 30th. The financial services provider reported $2.35 earnings per share for the quarter, beating analysts’ consensus estimates of $2.23 by $0.12. The business had revenue of $3.67 billion during the quarter, compared to analyst estimates of $2.88 billion. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. Intercontinental Exchange’s revenue was up 20.4% compared to the same quarter last year. During the same period last year, the business earned $1.72 EPS. As a group, sell-side analysts anticipate that Intercontinental Exchange Inc. will post 8.16 earnings per share for the current fiscal year.

Insider Activity

In other Intercontinental Exchange news, CTO Mayur Kapani sold 4,271 shares of the firm’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $155.42, for a total transaction of $663,798.82. Following the completion of the sale, the chief technology officer directly owned 64,869 shares in the company, valued at approximately $10,081,939.98. This trade represents a 6.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Sharon Bowen sold 667 shares of the firm’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $151.28, for a total transaction of $100,903.76. Following the sale, the director owned 15,077 shares of the company’s stock, valued at approximately $2,280,848.56. This represents a 4.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 12,092 shares of company stock valued at $1,860,424 in the last quarter. 0.84% of the stock is owned by company insiders.

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.