Park Place Capital Corp Trims Stock Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Park Place Capital Corp lowered its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 31.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,010 shares of the financial services provider’s stock after selling 458 shares during the period. Park Place Capital Corp’s holdings in Intercontinental Exchange were worth $139,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ICE. Wellington Management Group LLP boosted its holdings in Intercontinental Exchange by 219.8% in the third quarter. Wellington Management Group LLP now owns 12,146,620 shares of the financial services provider’s stock valued at $1,336,371,000 after purchasing an additional 8,348,126 shares during the last quarter. Norges Bank bought a new position in Intercontinental Exchange during the 4th quarter worth approximately $839,259,000. Capital World Investors lifted its holdings in Intercontinental Exchange by 35.6% during the 4th quarter. Capital World Investors now owns 9,643,762 shares of the financial services provider’s stock worth $1,238,559,000 after buying an additional 2,530,119 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in Intercontinental Exchange by 303.1% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,381,314 shares of the financial services provider’s stock worth $305,832,000 after buying an additional 1,790,493 shares during the last quarter. Finally, Parnassus Investments LLC lifted its holdings in Intercontinental Exchange by 23.8% during the 4th quarter. Parnassus Investments LLC now owns 8,429,851 shares of the financial services provider’s stock worth $1,082,646,000 after buying an additional 1,621,737 shares during the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Morgan Stanley increased their target price on Intercontinental Exchange from $139.00 to $142.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. The Goldman Sachs Group raised Intercontinental Exchange from a “neutral” rating to a “buy” rating and increased their target price for the stock from $143.00 to $167.00 in a report on Monday. StockNews.com downgraded Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Friday, May 31st. Argus reissued a “buy” rating and issued a $153.00 price target on shares of Intercontinental Exchange in a report on Tuesday, May 21st. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $164.00 price target on shares of Intercontinental Exchange in a report on Friday, May 3rd. One analyst has rated the stock with a sell rating, one has given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $151.29.

Intercontinental Exchange Stock Performance

ICE traded up $0.04 during trading hours on Monday, hitting $136.93. The company’s stock had a trading volume of 2,348,929 shares, compared to its average volume of 2,348,960. Intercontinental Exchange, Inc. has a fifty-two week low of $104.49 and a fifty-two week high of $140.43. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $78.54 billion, a PE ratio of 31.45, a PEG ratio of 2.55 and a beta of 1.06. The company has a 50-day simple moving average of $134.52 and a 200 day simple moving average of $132.90.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, May 2nd. The financial services provider reported $1.48 EPS for the quarter, meeting the consensus estimate of $1.48. Intercontinental Exchange had a return on equity of 12.76% and a net margin of 24.24%. The firm had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.31 billion. During the same period last year, the firm earned $1.41 EPS. The firm’s revenue was up 20.8% compared to the same quarter last year. As a group, sell-side analysts expect that Intercontinental Exchange, Inc. will post 5.96 EPS for the current year.

Insider Activity at Intercontinental Exchange

In other news, General Counsel Andrew J. Surdykowski sold 1,898 shares of Intercontinental Exchange stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $136.66, for a total transaction of $259,380.68. Following the transaction, the general counsel now directly owns 46,815 shares in the company, valued at approximately $6,397,737.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, major shareholder Intercontinental Exchange, Inc purchased 350,880 shares of the stock in a transaction dated Thursday, April 25th. The shares were bought at an average cost of $0.87 per share, for a total transaction of $305,265.60. Following the transaction, the insider now owns 649,934 shares in the company, valued at $565,442.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Andrew J. Surdykowski sold 1,898 shares of Intercontinental Exchange stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $136.66, for a total value of $259,380.68. Following the transaction, the general counsel now owns 46,815 shares in the company, valued at $6,397,737.90. The disclosure for this sale can be found here. Insiders have sold a total of 62,894 shares of company stock worth $8,620,792 in the last three months. 1.10% of the stock is owned by company insiders.

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.