Amova Asset Management Americas Inc. Lowers Position in Intercontinental Exchange Inc. $ICE

Amova Asset Management Americas Inc. trimmed its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 38.3% during the 1st quarter, Holdings Channel reports. The fund owned 55,774 shares of the financial services provider’s stock after selling 34,673 shares during the period. Amova Asset Management Americas Inc.’s holdings in Intercontinental Exchange were worth $8,773,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Ares Financial Consulting LLC purchased a new stake in shares of Intercontinental Exchange in the 4th quarter worth approximately $25,000. Steph & Co. boosted its stake in shares of Intercontinental Exchange by 104.7% during the fourth quarter. Steph & Co. now owns 174 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 89 shares in the last quarter. Brooklands Fund Management Ltd purchased a new position in Intercontinental Exchange during the fourth quarter valued at approximately $28,000. Swiss RE Ltd. purchased a new position in Intercontinental Exchange during the fourth quarter valued at approximately $28,000. Finally, Dorato Capital Management bought a new position in Intercontinental Exchange in the fourth quarter worth approximately $29,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on ICE shares. UBS Group cut their price target on Intercontinental Exchange from $205.00 to $190.00 and set a “buy” rating on the stock in a report on Tuesday, July 7th. TD Cowen decreased their price objective 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. The Goldman Sachs Group dropped their price objective on Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating on the stock in a research report on Tuesday, June 30th. Morgan Stanley cut their target price on Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating on the stock in a research note on Friday, July 10th. Finally, Raymond James Financial set a $208.00 target price on shares of Intercontinental Exchange in a report on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $181.58.

Insider Buying and Selling at Intercontinental Exchange

In other news, Director Sharon Bowen sold 667 shares of the stock in a transaction dated 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 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Mayur Kapani sold 4,271 shares of the firm’s stock in a transaction dated Thursday, May 14th. The stock was 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 approximately $10,081,939.98. The trade was a 6.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 13,425 shares of company stock worth $2,046,324 in the last three months. 0.84% of the stock is owned by company insiders.

Intercontinental Exchange Stock Up 1.4%

Shares of ICE stock opened at $141.67 on Tuesday. Intercontinental Exchange Inc. has a 1-year low of $121.79 and a 1-year high of $189.35. The stock’s fifty day moving average price is $140.51 and its 200 day moving average price is $154.56. 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 market cap of $80.12 billion, a price-to-earnings ratio of 20.62, a price-to-earnings-growth ratio of 1.44 and a beta of 0.94.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share for the quarter, topping the consensus estimate of $2.23 by $0.12. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The business had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $2.88 billion. During the same quarter last year, the company earned $1.72 earnings per share. The company’s quarterly revenue was up 20.4% on a year-over-year basis. On average, research analysts expect that Intercontinental Exchange Inc. will post 8.07 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.