Arrowstreet Capital Limited Partnership Trims Stock Holdings in Intercontinental Exchange Inc. $ICE

Arrowstreet Capital Limited Partnership cut its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 25.7% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,803,864 shares of the financial services provider’s stock after selling 622,384 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Intercontinental Exchange were worth $283,712,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Intercontinental Exchange by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 54,153,170 shares of the financial services provider’s stock valued at $8,770,647,000 after purchasing an additional 413,639 shares in the last quarter. J. Stern & Co. LLP lifted its stake in Intercontinental Exchange by 17,398.1% during the fourth quarter. J. Stern & Co. LLP now owns 54,107,273 shares of the financial services provider’s stock worth $8,763,214,000 after purchasing an additional 53,798,055 shares during the last quarter. State Street Corp raised its holdings in shares of Intercontinental Exchange by 3.4% during the fourth quarter. State Street Corp now owns 25,653,952 shares of the financial services provider’s stock worth $4,154,914,000 after purchasing an additional 837,208 shares during the period. Morgan Stanley lifted its position in shares of Intercontinental Exchange by 1.0% in the 4th quarter. Morgan Stanley now owns 15,875,593 shares of the financial services provider’s stock worth $2,571,212,000 after buying an additional 158,450 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Intercontinental Exchange in the 4th quarter worth about $1,418,228,000. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Up 1.9%

ICE opened at $145.93 on Friday. The company has a market capitalization of $82.53 billion, a P/E ratio of 21.24, a P/E/G ratio of 1.49 and a beta of 0.94. 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 firm’s fifty day moving average price is $139.50 and its two-hundred day moving average price is $154.08. Intercontinental Exchange Inc. has a fifty-two week low of $121.79 and a fifty-two week high of $189.35.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share (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 analyst estimates of $2.88 billion. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The company’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.72 earnings per share. On average, analysts anticipate that Intercontinental Exchange Inc. will post 8.01 EPS for the current year.

Wall Street Analysts Forecast Growth

ICE has been the subject of a number of recent research reports. Barclays lowered their price objective on shares of Intercontinental Exchange from $201.00 to $180.00 and set an “overweight” rating for the company in a research report on Thursday, July 9th. The Goldman Sachs Group dropped their price objective on shares of Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. UBS Group reduced their target price on shares of Intercontinental Exchange from $205.00 to $190.00 and set a “buy” rating for the company in a research note on Tuesday, July 7th. TD Cowen lowered their price target on Intercontinental Exchange from $193.00 to $153.00 and set a “buy” rating on the stock in a research report on Monday, June 22nd. Finally, Raymond James Financial set a $208.00 price objective on Intercontinental Exchange in a research report on Monday, July 6th. One investment 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 stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $181.58.

Insiders Place Their Bets

In other news, CTO Mayur Kapani sold 4,271 shares of the firm’s stock in a transaction on 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 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 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 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 position. The SEC filing for this sale provides additional information. Insiders have sold 13,425 shares of company stock worth $2,046,324 over the last quarter. Corporate insiders own 0.84% of the company’s stock.

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.