Chevy Chase Trust Holdings LLC Trims Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

Chevy Chase Trust Holdings LLC lessened its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 1.7% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 307,973 shares of the financial services provider’s stock after selling 5,329 shares during the period. Chevy Chase Trust Holdings LLC owned 0.05% of Intercontinental Exchange worth $49,473,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. FMR LLC boosted its position in shares of Intercontinental Exchange by 44.1% during the 3rd quarter. FMR LLC now owns 7,846,421 shares of the financial services provider’s stock valued at $1,260,449,000 after acquiring an additional 2,401,630 shares during the last quarter. Manning & Napier Advisors LLC purchased a new stake in Intercontinental Exchange in the second quarter valued at approximately $124,508,000. James Hambro & Partners bought a new stake in Intercontinental Exchange during the second quarter valued at approximately $93,340,000. Assenagon Asset Management S.A. grew its stake in Intercontinental Exchange by 426.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 721,474 shares of the financial services provider’s stock worth $115,898,000 after buying an additional 584,400 shares in the last quarter. Finally, Samlyn Capital LLC increased its holdings in shares of Intercontinental Exchange by 142.2% in the 2nd quarter. Samlyn Capital LLC now owns 835,654 shares of the financial services provider’s stock worth $114,393,000 after buying an additional 490,671 shares during the last quarter. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Price Performance

Shares of Intercontinental Exchange stock opened at $158.29 on Tuesday. The company’s fifty day simple moving average is $160.62 and its two-hundred day simple moving average is $152.07. Intercontinental Exchange, Inc. has a 12-month low of $111.82 and a 12-month high of $167.99. The firm has a market cap of $90.89 billion, a PE ratio of 37.51, a price-to-earnings-growth ratio of 2.66 and a beta of 1.08. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.68.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.55. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The company had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter in the previous year, the business earned $1.46 EPS. Intercontinental Exchange’s revenue was up 17.3% compared to the same quarter last year. As a group, equities analysts expect that Intercontinental Exchange, Inc. will post 6.07 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on ICE. StockNews.com downgraded shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Wednesday, November 27th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $168.00 price target on shares of Intercontinental Exchange in a research note on Tuesday, August 6th. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price objective on shares of Intercontinental Exchange in a research report on Friday, November 1st. Barclays dropped their target price on Intercontinental Exchange from $179.00 to $173.00 and set an “overweight” rating for the company in a research report on Friday, November 1st. Finally, JPMorgan Chase & Co. increased their price target on shares of Intercontinental Exchange from $171.00 to $188.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $174.13.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, President Benjamin Jackson sold 5,828 shares of Intercontinental Exchange stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $160.00, for a total transaction of $932,480.00. Following the sale, the president now directly owns 156,163 shares of the company’s stock, valued at approximately $24,986,080. The trade was a 3.60 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Andrew J. Surdykowski sold 2,048 shares of the stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $159.57, for a total value of $326,799.36. Following the completion of the transaction, the general counsel now directly owns 44,865 shares of the company’s stock, valued at $7,159,108.05. This represents a 4.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,696 shares of company stock worth $1,554,559 over the last quarter. 1.10% of the stock is owned by corporate insiders.

Intercontinental Exchange 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.