Intercontinental Exchange Inc. $ICE is Cantillon Capital Management LLC’s 10th Largest Position

Cantillon Capital Management LLC cut its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 11.9% in the first quarter, HoldingsChannel reports. The fund owned 2,941,954 shares of the financial services provider’s stock after selling 396,028 shares during the period. Intercontinental Exchange accounts for approximately 3.1% of Cantillon Capital Management LLC’s investment portfolio, making the stock its 10th largest holding. Cantillon Capital Management LLC’s holdings in Intercontinental Exchange were worth $462,711,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of ICE. Ares Financial Consulting LLC purchased a new position in shares of Intercontinental Exchange during the 4th quarter valued at approximately $25,000. Steph & Co. lifted its stake 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 valued at $28,000 after purchasing an additional 89 shares during the period. Brooklands Fund Management Ltd purchased a new stake in Intercontinental Exchange during the fourth quarter worth $28,000. Swiss RE Ltd. purchased a new stake in Intercontinental Exchange during the fourth quarter worth $28,000. Finally, Dorato Capital Management acquired a new stake in Intercontinental Exchange during the fourth quarter valued at $29,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Insiders Place Their Bets

In other news, Director Sharon Bowen sold 667 shares of the business’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 completion of the sale, the director owned 15,077 shares of the company’s stock, valued at $2,280,848.56. The trade was a 4.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Warren Gardiner sold 2,490 shares of the company’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $156.64, for a total transaction of $390,033.60. Following the transaction, the chief financial officer owned 25,189 shares of the company’s stock, valued at approximately $3,945,604.96. This trade represents a 9.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 13,425 shares of company stock valued at $2,046,324. 0.84% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ICE. Morgan Stanley cut their price objective on shares of Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating for the company in a report on Friday, July 10th. Keefe, Bruyette & Woods began coverage on shares of Intercontinental Exchange in a research note on Wednesday, April 8th. They set an “outperform” rating and a $190.00 target price on the stock. Piper Sandler dropped their target price on Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 15th. TD Cowen cut their price target on Intercontinental Exchange from $193.00 to $153.00 and set a “buy” rating for the company in a research note on Monday, June 22nd. Finally, Weiss Ratings cut Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, June 17th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $181.58.

Intercontinental Exchange Price Performance

Intercontinental Exchange stock opened at $139.55 on Monday. The company’s fifty day moving average price is $140.83 and its 200 day moving average price is $154.71. Intercontinental Exchange Inc. has a 1 year low of $121.79 and a 1 year high of $189.35. The stock has a market capitalization of $78.92 billion, a P/E ratio of 20.31, a P/E/G ratio of 1.44 and a beta of 0.94. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly 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 company 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%. The firm’s revenue was up 20.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.72 EPS. As a group, equities research analysts anticipate that Intercontinental Exchange Inc. will post 8.07 earnings per share for the current fiscal year.

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.