Pictet Asset Management Ltd. trimmed its stake in shares of Intercontinental Exchange Inc (NYSE:ICE) by 24.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 293,231 shares of the financial services provider’s stock after selling 96,141 shares during the quarter. Pictet Asset Management Ltd. owned approximately 0.05% of Intercontinental Exchange worth $25,200,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in ICE. Next Capital Management LLC acquired a new position in Intercontinental Exchange in the 2nd quarter valued at approximately $26,000. Carroll Financial Associates Inc. increased its position in Intercontinental Exchange by 51.3% in the 2nd quarter. Carroll Financial Associates Inc. now owns 360 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 122 shares during the period. Arlington Partners LLC acquired a new position in Intercontinental Exchange in the 2nd quarter valued at approximately $34,000. Sandy Spring Bank increased its position in Intercontinental Exchange by 41.8% in the 2nd quarter. Sandy Spring Bank now owns 404 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 119 shares during the period. Finally, Capital Advisors Ltd. LLC acquired a new position in Intercontinental Exchange in the 2nd quarter valued at approximately $42,000. Institutional investors and hedge funds own 90.43% of the company’s stock.

ICE has been the subject of several recent research reports. Raymond James upped their price target on shares of Intercontinental Exchange from $89.00 to $94.00 and gave the company an “outperform” rating in a research report on Friday, July 5th. Citigroup cut shares of Intercontinental Exchange from a “buy” rating to a “neutral” rating and upped their price target for the company from $92.00 to $99.00 in a research report on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $88.25.

In related news, CFO Scott A. Hill sold 38,305 shares of the stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $94.03, for a total transaction of $3,601,819.15. Following the transaction, the chief financial officer now directly owns 185,225 shares of the company’s stock, valued at $17,416,706.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jeffrey C. Sprecher sold 40,000 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $92.41, for a total transaction of $3,696,400.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 167,160 shares of company stock worth $15,261,966. Insiders own 1.50% of the company’s stock.

Shares of NYSE:ICE traded up $0.22 during trading on Friday, reaching $90.52. The stock had a trading volume of 56,133 shares, compared to its average volume of 1,694,489. The firm’s fifty day moving average is $91.57 and its 200 day moving average is $83.84. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.00 and a current ratio of 1.00. Intercontinental Exchange Inc has a 52 week low of $69.69 and a 52 week high of $95.55. The stock has a market cap of $50.50 billion, a price-to-earnings ratio of 25.20, a P/E/G ratio of 2.92 and a beta of 0.50.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, August 1st. The financial services provider reported $0.94 EPS for the quarter, beating the Zacks’ consensus estimate of $0.92 by $0.02. Intercontinental Exchange had a net margin of 31.85% and a return on equity of 12.22%. The company had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same period in the prior year, the firm posted $0.90 EPS. The company’s quarterly revenue was up 4.2% on a year-over-year basis. On average, research analysts forecast that Intercontinental Exchange Inc will post 3.77 earnings per share for the current fiscal year.

Intercontinental Exchange Company Profile

Intercontinental Exchange, Inc operates regulated exchanges, clearing houses, and listings venues for commodity, financial, fixed income, and equity markets in the United States, the United Kingdom, European Union, Asia, Israel, and Canada. It operates through two segments, Trading and Clearing; and Data and Listings.

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

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