Chevy Chase Trust Holdings LLC Has $42.89 Million Stock Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Chevy Chase Trust Holdings LLC cut its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 1.2% during the second quarter, HoldingsChannel reports. The fund owned 313,302 shares of the financial services provider’s stock after selling 3,917 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Intercontinental Exchange were worth $42,888,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Scarborough Advisors LLC acquired a new stake in Intercontinental Exchange in the 4th quarter worth approximately $25,000. Annapolis Financial Services LLC lifted its stake in shares of Intercontinental Exchange by 1,018.8% in the first quarter. Annapolis Financial Services LLC now owns 179 shares of the financial services provider’s stock worth $25,000 after buying an additional 163 shares during the last quarter. Redmont Wealth Advisors LLC bought a new stake in shares of Intercontinental Exchange during the 1st quarter worth $26,000. Stuart Chaussee & Associates Inc. acquired a new position in Intercontinental Exchange in the 4th quarter valued at $28,000. Finally, Venturi Wealth Management LLC grew its stake in Intercontinental Exchange by 82.3% in the 1st quarter. Venturi Wealth Management LLC now owns 206 shares of the financial services provider’s stock valued at $28,000 after buying an additional 93 shares during the last quarter. 89.30% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Intercontinental Exchange news, CTO Mayur Kapani sold 395 shares of the company’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $141.13, for a total transaction of $55,746.35. Following the sale, the chief technology officer now directly owns 64,471 shares of the company’s stock, valued at $9,098,792.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CAO James W. Namkung sold 1,043 shares of the stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $150.00, for a total transaction of $156,450.00. Following the sale, the chief accounting officer now directly owns 17,836 shares of the company’s stock, valued at $2,675,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Mayur Kapani sold 395 shares of the stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $141.13, for a total transaction of $55,746.35. Following the sale, the chief technology officer now directly owns 64,471 shares in the company, valued at $9,098,792.23. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 64,992 shares of company stock valued at $9,197,801. 1.10% of the stock is currently owned by insiders.

Intercontinental Exchange Price Performance

Shares of ICE stock traded up $0.26 during trading hours on Wednesday, hitting $158.01. The company had a trading volume of 549,822 shares, compared to its average volume of 2,458,461. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.01 and a current ratio of 0.99. The firm has a market capitalization of $90.63 billion, a price-to-earnings ratio of 36.12, a PEG ratio of 2.68 and a beta of 1.06. Intercontinental Exchange, Inc. has a 12 month low of $104.49 and a 12 month high of $158.46. The firm’s fifty day moving average is $145.90 and its 200 day moving average is $138.78.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, August 1st. The financial services provider reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.03. The business had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.31 billion. Intercontinental Exchange had a net margin of 21.43% and a return on equity of 12.70%. The firm’s quarterly revenue was up 22.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.43 EPS. On average, sell-side analysts predict that Intercontinental Exchange, Inc. will post 6 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Barclays upped their price target on shares of Intercontinental Exchange from $159.00 to $167.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. StockNews.com downgraded Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Wednesday. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $168.00 price target on shares of Intercontinental Exchange in a research report on Tuesday, August 6th. The Goldman Sachs Group raised Intercontinental Exchange from a “neutral” rating to a “buy” rating and increased their price objective for the company from $143.00 to $167.00 in a research report on Monday, July 1st. Finally, Rosenblatt Securities restated a “buy” rating and issued a $164.00 price objective on shares of Intercontinental Exchange in a research note on Friday, May 3rd. One analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $154.93.

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.