Natixis Trims Stake in Intercontinental Exchange Inc (ICE)

Natixis trimmed its position in Intercontinental Exchange Inc (NYSE:ICE) by 23.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 87,116 shares of the financial services provider’s stock after selling 26,703 shares during the quarter. Natixis’ holdings in Intercontinental Exchange were worth $6,318,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the company. BlackRock Inc. increased its holdings in shares of Intercontinental Exchange by 2.5% in the first quarter. BlackRock Inc. now owns 38,207,564 shares of the financial services provider’s stock worth $2,770,811,000 after purchasing an additional 935,860 shares during the last quarter. Neuberger Berman Group LLC increased its stake in Intercontinental Exchange by 1.6% during the first quarter. Neuberger Berman Group LLC now owns 6,644,176 shares of the financial services provider’s stock worth $480,849,000 after acquiring an additional 104,062 shares during the last quarter. Amundi Pioneer Asset Management Inc. increased its stake in Intercontinental Exchange by 1.8% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 6,256,044 shares of the financial services provider’s stock worth $441,426,000 after acquiring an additional 113,143 shares during the last quarter. Lazard Asset Management LLC increased its stake in Intercontinental Exchange by 1.1% during the fourth quarter. Lazard Asset Management LLC now owns 6,126,380 shares of the financial services provider’s stock worth $432,276,000 after acquiring an additional 63,944 shares during the last quarter. Finally, OppenheimerFunds Inc. increased its stake in Intercontinental Exchange by 3.0% during the fourth quarter. OppenheimerFunds Inc. now owns 5,962,547 shares of the financial services provider’s stock worth $420,717,000 after acquiring an additional 175,582 shares during the last quarter. 88.65% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Intercontinental Exchange traded down $0.62, reaching $73.74, during mid-day trading on Monday, according to MarketBeat. 18,737 shares of the company’s stock traded hands, compared to its average volume of 2,385,980. The stock has a market cap of $43.07 billion, a price-to-earnings ratio of 25.21, a P/E/G ratio of 2.03 and a beta of 0.62. Intercontinental Exchange Inc has a 12 month low of $63.22 and a 12 month high of $76.69. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.98 and a current ratio of 0.98.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, May 3rd. The financial services provider reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.02. The firm had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.22 billion. Intercontinental Exchange had a return on equity of 11.14% and a net margin of 41.65%. The company’s quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.74 earnings per share. analysts predict that Intercontinental Exchange Inc will post 3.52 earnings per share for the current fiscal year.

ICE has been the topic of several analyst reports. JPMorgan Chase & Co. raised Intercontinental Exchange from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $76.00 to $83.00 in a research note on Tuesday, February 20th. Zacks Investment Research cut Intercontinental Exchange from a “buy” rating to a “hold” rating in a research note on Tuesday, March 6th. Deutsche Bank boosted their price objective on Intercontinental Exchange from $80.00 to $81.00 and gave the stock a “buy” rating in a research note on Friday, April 6th. ValuEngine raised Intercontinental Exchange from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Finally, Sanford C. Bernstein initiated coverage on Intercontinental Exchange in a research note on Monday, April 9th. They set an “outperform” rating and a $85.00 price objective on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the stock. Intercontinental Exchange has a consensus rating of “Buy” and a consensus price target of $78.36.

In other news, CEO Jeffrey C. Sprecher sold 135,258 shares of the company’s stock in a transaction that occurred on Wednesday, May 23rd. The stock was sold at an average price of $70.95, for a total transaction of $9,596,555.10. Following the transaction, the chief executive officer now owns 1,598,138 shares of the company’s stock, valued at $113,387,891.10. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Vice Chairman Charles A. Vice sold 35,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 6th. The shares were sold at an average price of $75.65, for a total value of $2,647,750.00. Following the transaction, the insider now directly owns 417,507 shares in the company, valued at approximately $31,584,404.55. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 273,116 shares of company stock worth $19,591,954. Insiders own 1.50% of the company’s stock.

Intercontinental Exchange Profile

Intercontinental Exchange, Inc operates regulated exchanges, clearing houses, and listings venues for financial and commodity markets in the United States, the United Kingdom, Continental Europe, Asia, Israel, and Canada. It operates through two segments, Trading and Clearing; and Data and Listings. The company operates marketplaces for listing, trading, and clearing an array of derivatives and securities contracts across various asset classes, including energy and agricultural commodities, interest rates, equities, equity and credit derivatives, exchange traded funds, bonds, and currencies.

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Institutional Ownership by Quarter for Intercontinental Exchange (NYSE:ICE)

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