LGT Capital Partners LTD. Decreases Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

LGT Capital Partners LTD. reduced its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) by 34.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 84,551 shares of the financial services provider's stock after selling 44,535 shares during the quarter. LGT Capital Partners LTD.'s holdings in Intercontinental Exchange were worth $13,582,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ICE. Wolff Wiese Magana LLC raised its stake in Intercontinental Exchange by 1,470.0% during the 3rd quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider's stock valued at $25,000 after acquiring an additional 147 shares in the last quarter. Northwest Investment Counselors LLC acquired a new stake in shares of Intercontinental Exchange in the 3rd quarter valued at approximately $26,000. Financial Management Professionals Inc. grew its holdings in shares of Intercontinental Exchange by 106.1% during the third quarter. Financial Management Professionals Inc. now owns 169 shares of the financial services provider's stock worth $27,000 after buying an additional 87 shares in the last quarter. Fairscale Capital LLC acquired a new stake in shares of Intercontinental Exchange in the second quarter valued at approximately $25,000. Finally, Capital Performance Advisors LLP bought a new stake in Intercontinental Exchange in the 3rd quarter valued at about $29,000. Institutional investors and hedge funds own 89.30% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on ICE shares. Royal Bank of Canada restated an "outperform" rating and set a $200.00 price objective on shares of Intercontinental Exchange in a report on Friday, November 1st. Bank of America raised their price target on Intercontinental Exchange from $168.00 to $175.00 and gave the company a "buy" rating in a report on Thursday, October 3rd. JPMorgan Chase & Co. raised their price objective on Intercontinental Exchange from $171.00 to $188.00 and gave the company an "overweight" rating in a research report on Wednesday, October 23rd. TD Cowen assumed coverage on Intercontinental Exchange in a report on Thursday, September 26th. They issued a "buy" rating and a $182.00 price objective on the stock. Finally, Raymond James cut Intercontinental Exchange from a "strong-buy" rating to an "outperform" rating and set a $185.00 price objective on the stock. in a research note on Monday, October 14th. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $174.13.

Intercontinental Exchange Trading Up 0.1 %

Shares of Intercontinental Exchange stock traded up $0.21 during trading hours on Tuesday, hitting $157.90. The company's stock had a trading volume of 1,228,409 shares, compared to its average volume of 2,570,063. Intercontinental Exchange, Inc. has a 12 month low of $110.64 and a 12 month high of $167.99. The stock has a 50 day moving average of $160.89 and a 200 day moving average of $150.44. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.00 and a quick ratio of 1.00. The company has a market capitalization of $90.66 billion, a PE ratio of 37.37, a price-to-earnings-growth ratio of 2.57 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last posted its earnings results on Thursday, October 31st. The financial services provider reported $1.55 EPS for the quarter, hitting the consensus estimate of $1.55. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The firm had revenue of $2.35 billion for the quarter, compared to analysts' expectations of $2.35 billion. During the same quarter last year, the firm earned $1.46 EPS. The company's quarterly revenue was up 17.3% compared to the same quarter last year. Analysts predict that Intercontinental Exchange, Inc. will post 6.07 earnings per share for the current year.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, Director Martha A. Tirinnanzi sold 509 shares of the firm's stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $158.98, for a total value of $80,920.82. Following the sale, the director now directly owns 3,958 shares of the company's stock, valued at approximately $629,242.84. This trade represents a 11.39 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO James W. Namkung sold 1,171 shares of Intercontinental Exchange stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $160.00, for a total transaction of $187,360.00. Following the completion of the transaction, the chief accounting officer now directly owns 16,665 shares of the company's stock, valued at $2,666,400. This trade represents a 6.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,489 shares of company stock worth $1,202,259 over the last three months. Corporate insiders own 1.10% of the company's stock.

About Intercontinental Exchange

Intercontinental Exchange, Inc, together with its subsidiaries, engages in the provision of market infrastructure, data services, and technology solutions for financial institutions, corporations, and government entities in the United States, the United Kingdom, the European Union, Singapore, India, Abu Dhabi, Israel, and Canada.