Freedom Investment Management Inc. Sells 275 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Freedom Investment Management Inc. reduced its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 16.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,397 shares of the financial services provider’s stock after selling 275 shares during the quarter. Freedom Investment Management Inc.’s holdings in Intercontinental Exchange were worth $224,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. FMR LLC lifted its holdings in shares of Intercontinental Exchange by 44.1% during the third quarter. FMR LLC now owns 7,846,421 shares of the financial services provider’s stock valued at $1,260,449,000 after purchasing an additional 2,401,630 shares in the last quarter. Parnassus Investments LLC lifted its holdings in Intercontinental Exchange by 4.0% in the third quarter. Parnassus Investments LLC now owns 7,838,727 shares of the financial services provider’s stock valued at $1,259,213,000 after acquiring an additional 299,037 shares during the period. Legal & General Group Plc lifted its holdings in Intercontinental Exchange by 4.5% in the second quarter. Legal & General Group Plc now owns 4,453,286 shares of the financial services provider’s stock valued at $609,609,000 after acquiring an additional 191,763 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Intercontinental Exchange by 0.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,142,092 shares of the financial services provider’s stock valued at $504,746,000 after acquiring an additional 21,615 shares during the period. Finally, Clearbridge Investments LLC lifted its holdings in Intercontinental Exchange by 10.4% in the second quarter. Clearbridge Investments LLC now owns 3,019,195 shares of the financial services provider’s stock valued at $413,298,000 after acquiring an additional 284,664 shares during the period. 89.30% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on ICE shares. JPMorgan Chase & Co. increased their target price on Intercontinental Exchange from $171.00 to $188.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 target price on shares of Intercontinental Exchange in a report on Friday, November 1st. Deutsche Bank Aktiengesellschaft increased their target price on Intercontinental Exchange from $160.00 to $163.00 and gave the company a “hold” rating in a report on Monday, November 11th. Raymond James cut Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 price target for the company. in a research report on Monday, October 14th. Finally, TD Cowen assumed coverage on Intercontinental Exchange in a research report on Thursday, September 26th. They issued a “buy” rating and a $182.00 price target for the company. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $174.13.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, CFO Warren Gardiner sold 750 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $161.43, for a total transaction of $121,072.50. Following the completion of the transaction, the chief financial officer now owns 16,576 shares in the company, valued at $2,675,863.68. This trade represents a 4.33 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, President Benjamin Jackson sold 5,828 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $160.00, for a total value of $932,480.00. Following the transaction, the president now owns 156,163 shares of the company’s stock, valued at $24,986,080. This represents a 3.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,696 shares of company stock worth $1,554,559 in the last quarter. 1.10% of the stock is owned by corporate insiders.

Intercontinental Exchange Stock Performance

NYSE:ICE opened at $160.96 on Monday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.68. Intercontinental Exchange, Inc. has a 12-month low of $111.82 and a 12-month high of $167.99. The stock has a 50-day moving average price of $160.62 and a 200 day moving average price of $152.07. The stock has a market capitalization of $92.42 billion, a P/E ratio of 38.14, a P/E/G ratio of 2.66 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, meeting the consensus estimate of $1.55. The business had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.35 billion. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The firm’s revenue for the quarter was up 17.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.46 EPS. Equities research analysts forecast that Intercontinental Exchange, Inc. will post 6.07 EPS for the current fiscal year.

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.