MetLife Investment Management LLC Lowers Position in Intercontinental Exchange, Inc. (NYSE:ICE)

MetLife Investment Management LLC trimmed its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 2.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 149,188 shares of the financial services provider’s stock after selling 3,707 shares during the quarter. MetLife Investment Management LLC’s holdings in Intercontinental Exchange were worth $23,966,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. FMR LLC raised its holdings in shares of Intercontinental Exchange by 44.1% in the 3rd quarter. FMR LLC now owns 7,846,421 shares of the financial services provider’s stock worth $1,260,449,000 after purchasing an additional 2,401,630 shares during the period. Manning & Napier Advisors LLC bought a new stake in shares of Intercontinental Exchange in the second quarter valued at $124,508,000. James Hambro & Partners purchased a new position in shares of Intercontinental Exchange during the 2nd quarter valued at $93,340,000. Assenagon Asset Management S.A. grew its stake in shares of Intercontinental Exchange by 426.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 721,474 shares of the financial services provider’s stock worth $115,898,000 after acquiring an additional 584,400 shares during the period. Finally, Samlyn Capital LLC increased its holdings in Intercontinental Exchange by 142.2% in the 2nd quarter. Samlyn Capital LLC now owns 835,654 shares of the financial services provider’s stock worth $114,393,000 after acquiring an additional 490,671 shares during the last quarter. Institutional investors own 89.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on ICE shares. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 target price on shares of Intercontinental Exchange in a research report on Friday, November 1st. TD Cowen started coverage on shares of Intercontinental Exchange in a report on Thursday, September 26th. They issued a “buy” rating and a $182.00 price objective for the company. The Goldman Sachs Group boosted their target price on shares of Intercontinental Exchange from $171.00 to $185.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. JPMorgan Chase & Co. increased their target price on Intercontinental Exchange from $171.00 to $188.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Finally, StockNews.com cut Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, Intercontinental Exchange presently has an average rating of “Moderate Buy” and an average price target of $174.13.

Insider Activity

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the business’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $159.57, for a total value of $326,799.36. Following the completion of the transaction, the general counsel now owns 44,865 shares of the company’s stock, valued at approximately $7,159,108.05. The trade was a 4.37 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Christopher Scott Edmonds sold 602 shares of the company’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total transaction of $98,011.62. Following the transaction, the insider now owns 14,034 shares in the company, valued at $2,284,875.54. This represents a 4.11 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,696 shares of company stock valued at $1,554,559. Company insiders own 1.10% of the company’s stock.

Intercontinental Exchange Trading Up 0.4 %

Shares of ICE opened at $161.14 on Thursday. The firm has a market cap of $92.52 billion, a price-to-earnings ratio of 38.18, a PEG ratio of 2.64 and a beta of 1.08. The firm has a 50 day moving average price of $160.55 and a 200-day moving average price of $151.59. Intercontinental Exchange, Inc. has a fifty-two week low of $111.82 and a fifty-two week high of $167.99. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.00 and a current ratio of 1.00.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data 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 firm had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.35 billion. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The business’s revenue was up 17.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.46 earnings per share. As a group, equities research analysts forecast that Intercontinental Exchange, Inc. will post 6.07 earnings per share for the current 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.