iA Global Asset Management Inc. Sells 8,661 Shares of Intercontinental Exchange Inc. $ICE

iA Global Asset Management Inc. cut its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 4.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 174,577 shares of the financial services provider’s stock after selling 8,661 shares during the quarter. iA Global Asset Management Inc.’s holdings in Intercontinental Exchange were worth $27,457,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ICE. Ares Financial Consulting LLC bought a new position in shares of Intercontinental Exchange in the fourth quarter worth approximately $25,000. Holos Integrated Wealth LLC purchased a new stake in shares of Intercontinental Exchange in the fourth quarter worth $28,000. Steph & Co. increased its stake in shares of Intercontinental Exchange by 104.7% in the fourth quarter. Steph & Co. now owns 174 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 89 shares in the last quarter. Brooklands Fund Management Ltd bought a new stake in shares of Intercontinental Exchange during the 4th quarter valued at $28,000. Finally, Swiss RE Ltd. bought a new stake in shares of Intercontinental Exchange during the 4th quarter valued at $28,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, General Counsel Andrew J. Surdykowski sold 4,573 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $151.56, for a total transaction of $693,083.88. Following the sale, the general counsel directly owned 45,473 shares of the company’s stock, valued at $6,891,887.88. This represents a 9.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William Jefferson Hague sold 1,333 shares of the stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $139.46, for a total value of $185,900.18. Following the transaction, the director owned 20,132 shares of the company’s stock, valued at $2,807,608.72. This represents a 6.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 13,425 shares of company stock worth $2,046,324. Insiders own 0.84% of the company’s stock.

Intercontinental Exchange Trading Down 0.0%

Shares of Intercontinental Exchange stock opened at $122.86 on Wednesday. Intercontinental Exchange Inc. has a twelve month low of $121.79 and a twelve month high of $189.35. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63. The business has a 50-day moving average price of $146.34 and a 200-day moving average price of $157.09. The firm has a market cap of $69.48 billion, a price-to-earnings ratio of 17.88, a PEG ratio of 1.15 and a beta of 0.92.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, April 30th. The financial services provider reported $2.35 EPS for the quarter, topping analysts’ consensus estimates of $2.23 by $0.12. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The company had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $2.88 billion. During the same period in the previous year, the business earned $1.72 earnings per share. The firm’s revenue for the quarter was up 20.4% on a year-over-year basis. Equities research analysts anticipate that Intercontinental Exchange Inc. will post 8.37 EPS for the current fiscal year.

Analysts Set New Price Targets

ICE has been the topic of a number of recent analyst reports. TD Cowen decreased their price target on Intercontinental Exchange from $193.00 to $153.00 and set a “buy” rating on the stock in a report on Monday, June 22nd. Barclays reissued an “overweight” rating and issued a $201.00 price target (up from $198.00) on shares of Intercontinental Exchange in a report on Friday, May 1st. UBS Group restated a “buy” rating and issued a $205.00 price target on shares of Intercontinental Exchange in a research note on Wednesday, May 20th. Rothschild & Co Redburn set a $177.00 price objective on shares of Intercontinental Exchange in a report on Thursday, June 11th. Finally, Weiss Ratings cut shares of Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, June 17th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Intercontinental Exchange currently has an average rating of “Moderate Buy” and a consensus target price of $188.58.

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.