National Bank of Canada FI Sells 224,271 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

National Bank of Canada FI cut its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 42.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 307,651 shares of the financial services provider’s stock after selling 224,271 shares during the period. National Bank of Canada FI owned approximately 0.05% of Intercontinental Exchange worth $49,421,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. New Millennium Group LLC bought a new stake in Intercontinental Exchange during the second quarter worth $25,000. International Assets Investment Management LLC purchased a new stake in Intercontinental Exchange during the second quarter worth about $25,000. Fairscale Capital LLC bought a new stake in Intercontinental Exchange in the second quarter worth about $25,000. Wolff Wiese Magana LLC grew its position in shares of 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 during the period. Finally, Northwest Investment Counselors LLC bought a new stake in shares of Intercontinental Exchange in the 3rd quarter worth approximately $26,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Bank of America upped their price target on Intercontinental Exchange from $168.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. JPMorgan Chase & Co. boosted their target price on shares of Intercontinental Exchange from $171.00 to $188.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Morgan Stanley boosted their price objective on Intercontinental Exchange from $160.00 to $174.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. TD Cowen assumed coverage on shares of Intercontinental Exchange in a research report on Thursday, September 26th. They issued a “buy” rating and a $182.00 price objective for the company. Finally, The Goldman Sachs Group increased their price objective on Intercontinental Exchange from $171.00 to $185.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, Intercontinental Exchange currently has a consensus rating of “Moderate Buy” and a consensus target price of $174.13.

Intercontinental Exchange Price Performance

NYSE ICE opened at $155.93 on Monday. Intercontinental Exchange, Inc. has a one year low of $111.82 and a one year high of $167.99. The stock has a 50-day moving average of $160.38 and a 200 day moving average of $152.75. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.00 and a current ratio of 1.00. The company has a market capitalization of $89.53 billion, a price-to-earnings ratio of 36.95, a PEG ratio of 2.58 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.55. The company had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.35 billion. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The firm’s revenue for the quarter was up 17.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.46 earnings per share. On average, sell-side analysts forecast that Intercontinental Exchange, Inc. will post 6.07 EPS for the current year.

Insider Buying and Selling at Intercontinental Exchange

In related news, COO Stuart Glen Williams sold 468 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total value of $76,195.08. Following the transaction, the chief operating officer now owns 13,530 shares of the company’s stock, valued at approximately $2,202,819.30. This trade represents a 3.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, President Benjamin Jackson sold 5,828 shares of the company’s 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 completion of the sale, the president now owns 156,163 shares of the company’s stock, valued at $24,986,080. This trade represents a 3.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 8,946 shares of company stock valued at $1,433,486. 1.10% of the stock is owned by company insiders.

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.