Westpac Banking Corp Cuts Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

Westpac Banking Corp lowered its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICEFree Report) by 3.5% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 82,397 shares of the financial services provider’s stock after selling 3,029 shares during the period. Intercontinental Exchange comprises approximately 0.9% of Westpac Banking Corp’s investment portfolio, making the stock its 19th biggest holding. Westpac Banking Corp’s holdings in Intercontinental Exchange were worth $10,582,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. OFI Invest Asset Management bought a new position in shares of Intercontinental Exchange during the 3rd quarter valued at approximately $25,000. Jones Financial Companies Lllp purchased a new position in Intercontinental Exchange in the third quarter valued at approximately $26,000. Fortitude Family Office LLC bought a new position in Intercontinental Exchange during the fourth quarter valued at $28,000. Stuart Chaussee & Associates Inc. bought a new stake in shares of Intercontinental Exchange in the fourth quarter valued at $28,000. Finally, Altshuler Shaham Ltd bought a new stake in shares of Intercontinental Exchange in the fourth quarter valued at $29,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, major shareholder Intercontinental Exchange, Inc purchased 2,762,009 shares of Intercontinental Exchange stock in a transaction on Monday, March 4th. The shares were acquired at an average cost of $0.87 per share, for a total transaction of $2,402,947.83. Following the completion of the transaction, the insider now directly owns 7,476,345 shares of the company’s stock, valued at $6,504,420.15. The purchase was disclosed in a filing with the SEC, which is available at this link. In related news, major shareholder Intercontinental Exchange, Inc acquired 2,762,009 shares of Intercontinental Exchange stock in a transaction dated Monday, March 4th. The shares were purchased at an average cost of $0.87 per share, with a total value of $2,402,947.83. Following the completion of the purchase, the insider now owns 7,476,345 shares of the company’s stock, valued at $6,504,420.15. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Warren Gardiner sold 500 shares of Intercontinental Exchange stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $138.83, for a total value of $69,415.00. Following the completion of the transaction, the chief financial officer now owns 18,326 shares in the company, valued at approximately $2,544,198.58. The disclosure for this sale can be found here. In the last three months, insiders sold 113,405 shares of company stock worth $15,515,819. 1.10% of the stock is currently owned by corporate insiders.

Intercontinental Exchange Price Performance

Intercontinental Exchange stock traded up $3.14 during mid-day trading on Wednesday, hitting $137.53. 1,074,534 shares of the company traded hands, compared to its average volume of 2,356,020. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.01 and a current ratio of 1.01. Intercontinental Exchange, Inc. has a one year low of $103.81 and a one year high of $140.43. The stock has a market cap of $78.89 billion, a price-to-earnings ratio of 31.37, a price-to-earnings-growth ratio of 2.57 and a beta of 1.02. The stock has a fifty day moving average price of $134.32 and a 200-day moving average price of $127.32.

Intercontinental Exchange (NYSE:ICEGet Free Report) last posted its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $1.48 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.48. Intercontinental Exchange had a net margin of 24.24% and a return on equity of 12.76%. The company had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same period in the previous year, the firm posted $1.41 EPS. The firm’s revenue was up 20.8% compared to the same quarter last year. On average, equities analysts predict that Intercontinental Exchange, Inc. will post 5.94 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Keefe, Bruyette & Woods decreased their price objective on Intercontinental Exchange from $156.00 to $155.00 and set an “outperform” rating for the company in a report on Friday, May 3rd. Barclays lowered their price target on shares of Intercontinental Exchange from $155.00 to $150.00 and set an “overweight” rating on the stock in a research report on Friday, May 3rd. Piper Sandler raised their price objective on shares of Intercontinental Exchange from $135.00 to $149.00 and gave the stock an “overweight” rating in a report on Monday, February 12th. Morgan Stanley boosted their target price on shares of Intercontinental Exchange from $139.00 to $142.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $164.00 price target on shares of Intercontinental Exchange in a research report on Friday, May 3rd. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $147.92.

View Our Latest Stock Analysis on Intercontinental Exchange

Intercontinental Exchange Profile

(Free Report)

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.

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Want to see what other hedge funds are holding ICE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Intercontinental Exchange, Inc. (NYSE:ICEFree Report).

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

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