Mutual of America Capital Management LLC Trims Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Mutual of America Capital Management LLC decreased its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 2.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 70,702 shares of the financial services provider’s stock after selling 1,632 shares during the period. Mutual of America Capital Management LLC’s holdings in Intercontinental Exchange were worth $11,358,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in ICE. Assenagon Asset Management S.A. grew its holdings in Intercontinental Exchange by 819.7% in the 2nd quarter. Assenagon Asset Management S.A. now owns 137,074 shares of the financial services provider’s stock valued at $18,764,000 after buying an additional 122,169 shares during the period. UniSuper Management Pty Ltd increased its position in Intercontinental Exchange by 200.2% during the first quarter. UniSuper Management Pty Ltd now owns 14,459 shares of the financial services provider’s stock worth $1,987,000 after purchasing an additional 9,642 shares during the last quarter. BDF Gestion purchased a new position in Intercontinental Exchange during the second quarter worth approximately $2,849,000. LRI Investments LLC acquired a new position in shares of Intercontinental Exchange in the 1st quarter valued at $137,000. Finally, Burke & Herbert Bank & Trust Co. purchased a new stake in shares of Intercontinental Exchange during the 2nd quarter valued at $1,366,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Price Performance

ICE stock opened at $155.55 on Monday. The stock’s 50 day moving average is $160.97 and its two-hundred day moving average is $150.22. Intercontinental Exchange, Inc. has a 52-week low of $110.64 and a 52-week high of $167.99. The company has a market capitalization of $89.31 billion, a PE ratio of 36.86, a P/E/G ratio of 2.57 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 issued its quarterly earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.55. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The business had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same quarter in the previous year, the firm earned $1.46 earnings per share. The business’s revenue was up 17.3% compared to the same quarter last year. Analysts predict that Intercontinental Exchange, Inc. will post 6.07 earnings per share for the current fiscal year.

Insider Activity

In other Intercontinental Exchange news, CFO Warren Gardiner sold 750 shares of the stock in a transaction on Monday, September 9th. The shares were sold at an average price of $161.43, for a total transaction of $121,072.50. Following the sale, the chief financial officer now directly owns 16,576 shares of the company’s stock, valued at approximately $2,675,863.68. This represents a 4.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Martha A. Tirinnanzi sold 509 shares of Intercontinental Exchange stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $158.98, for a total transaction of $80,920.82. Following the completion of the transaction, the director now directly owns 3,958 shares of the company’s stock, valued at $629,242.84. This trade represents a 11.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,489 shares of company stock worth $1,202,259. 1.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Raymond James lowered Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 target price on the stock. in a research report on Monday, October 14th. TD Cowen assumed coverage on Intercontinental Exchange in a research note on Thursday, September 26th. They issued a “buy” rating and a $182.00 price objective on the stock. Barclays dropped their target price on shares of Intercontinental Exchange from $179.00 to $173.00 and set an “overweight” rating for the company in a research report on Friday, November 1st. Bank of America lifted their price target 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. Finally, Morgan Stanley increased their price objective on shares of Intercontinental Exchange from $160.00 to $174.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $174.13.

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.