Manning & Napier Advisors LLC Reduces Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Manning & Napier Advisors LLC reduced its stake in Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) by 4.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 383,564 shares of the financial services provider's stock after selling 16,123 shares during the quarter. Manning & Napier Advisors LLC owned about 0.07% of Intercontinental Exchange worth $57,155,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Invesco LLC increased its position in shares of Intercontinental Exchange by 22.5% during the fourth quarter. Invesco LLC now owns 10,893 shares of the financial services provider's stock worth $1,623,000 after buying an additional 2,001 shares during the period. Swedbank AB boosted its position in Intercontinental Exchange by 2,293.3% during the fourth quarter. Swedbank AB now owns 2,215,767 shares of the financial services provider's stock valued at $330,171,000 after acquiring an additional 2,123,185 shares during the last quarter. Hantz Financial Services Inc. grew its holdings in Intercontinental Exchange by 8.9% during the 4th quarter. Hantz Financial Services Inc. now owns 7,321 shares of the financial services provider's stock worth $1,091,000 after acquiring an additional 599 shares during the period. Forsta AP Fonden raised its position in shares of Intercontinental Exchange by 3.3% in the 4th quarter. Forsta AP Fonden now owns 122,000 shares of the financial services provider's stock worth $18,179,000 after acquiring an additional 3,900 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its stake in shares of Intercontinental Exchange by 56.7% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 483,897 shares of the financial services provider's stock valued at $72,105,000 after purchasing an additional 175,150 shares during the period. 89.30% of the stock is currently owned by institutional investors.

Intercontinental Exchange Stock Up 1.4 %

Intercontinental Exchange stock traded up $2.23 during midday trading on Thursday, hitting $159.45. 1,941,639 shares of the stock were exchanged, compared to its average volume of 3,218,181. Intercontinental Exchange, Inc. has a 52-week low of $124.34 and a 52-week high of $167.99. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.68. The business's 50-day moving average price is $153.10 and its 200-day moving average price is $156.33. The stock has a market capitalization of $91.55 billion, a price-to-earnings ratio of 37.78, a price-to-earnings-growth ratio of 2.95 and a beta of 1.10.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last released its earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.55. The company had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.35 billion. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. Intercontinental Exchange's quarterly revenue was up 17.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.46 earnings per share. On average, research analysts expect that Intercontinental Exchange, Inc. will post 6.05 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. StockNews.com downgraded Intercontinental Exchange from a "hold" rating to a "sell" rating in a report on Wednesday, January 8th. Bank of America boosted their target price on shares of Intercontinental Exchange from $168.00 to $175.00 and gave the company a "buy" rating in a research report on Thursday, October 3rd. The Goldman Sachs Group lifted their price target on shares of Intercontinental Exchange from $171.00 to $185.00 and gave the company a "buy" rating in a research note on Thursday, October 3rd. Royal Bank of Canada reissued an "outperform" rating and set a $200.00 price objective on shares of Intercontinental Exchange in a research report on Tuesday, January 7th. Finally, Keefe, Bruyette & Woods reduced their target price on Intercontinental Exchange from $183.00 to $178.00 and set an "outperform" rating for the company in a research note on Monday, January 13th. One analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $175.27.

Insider Activity

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 955 shares of the business's stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $156.08, for a total value of $149,056.40. Following the sale, the general counsel now directly owns 44,702 shares in the company, valued at $6,977,088.16. The trade was a 2.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Benjamin Jackson sold 5,828 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $160.00, for a total value of $932,480.00. Following the transaction, the president now owns 156,163 shares of the company's stock, valued at $24,986,080. The trade was a 3.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 13,795 shares of company stock valued at $2,120,572 in the last ninety days. 1.10% of the stock is currently owned by insiders.

Intercontinental Exchange Company Profile

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.