Checchi Capital Advisers LLC lowered its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 12.0% during the second quarter, Holdings Channel reports. The firm owned 5,127 shares of the financial services provider’s stock after selling 702 shares during the period. Checchi Capital Advisers LLC’s holdings in Intercontinental Exchange were worth $338,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. BlackRock Inc. boosted its stake in shares of Intercontinental Exchange by 2,943.4% in the first quarter. BlackRock Inc. now owns 35,050,179 shares of the financial services provider’s stock worth $2,098,452,000 after buying an additional 33,898,484 shares during the period. OppenheimerFunds Inc. boosted its stake in shares of Intercontinental Exchange by 340.8% in the first quarter. OppenheimerFunds Inc. now owns 5,641,157 shares of the financial services provider’s stock worth $337,737,000 after buying an additional 4,361,480 shares during the period. FMR LLC boosted its stake in shares of Intercontinental Exchange by 19.3% in the first quarter. FMR LLC now owns 8,929,000 shares of the financial services provider’s stock worth $534,580,000 after buying an additional 1,443,992 shares during the period. Vanguard Group Inc. boosted its stake in shares of Intercontinental Exchange by 3.8% in the first quarter. Vanguard Group Inc. now owns 39,318,668 shares of the financial services provider’s stock worth $2,354,009,000 after buying an additional 1,425,397 shares during the period. Finally, Westfield Capital Management Co. LP purchased a new stake in shares of Intercontinental Exchange during the first quarter worth approximately $74,077,000. 89.38% of the stock is currently owned by institutional investors and hedge funds.

Intercontinental Exchange Inc. (NYSE ICE) opened at 65.86 on Wednesday. The firm has a market cap of $7.58 billion, a price-to-earnings ratio of 24.40 and a beta of 0.71. Intercontinental Exchange Inc. has a one year low of $52.27 and a one year high of $67.48. The stock’s 50 day moving average is $65.88 and its 200 day moving average is $61.64.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, August 3rd. The financial services provider reported $0.75 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.75. The firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.17 billion. Intercontinental Exchange had a net margin of 27.56% and a return on equity of 10.80%. The company’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.69 EPS. On average, analysts predict that Intercontinental Exchange Inc. will post $2.95 earnings per share for the current fiscal year.

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A number of analysts have commented on ICE shares. Zacks Investment Research raised shares of Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $74.00 price target on the stock in a research report on Thursday, July 13th. Citigroup Inc. started coverage on shares of Intercontinental Exchange in a research report on Wednesday, July 12th. They set a “neutral” rating and a $67.00 price target on the stock. Jefferies Group LLC reaffirmed a “buy” rating and set a $70.00 price target on shares of Intercontinental Exchange in a research report on Monday, June 26th. Deutsche Bank AG reaffirmed a “buy” rating and set a $66.00 price target (down previously from $67.00) on shares of Intercontinental Exchange in a research report on Monday, May 15th. Finally, Royal Bank Of Canada set a $61.00 price target on shares of Intercontinental Exchange and gave the company a “hold” rating in a research report on Thursday, April 20th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Intercontinental Exchange has a consensus rating of “Buy” and an average target price of $68.36.

In other news, Director Jean Marc Forneri sold 6,000 shares of Intercontinental Exchange stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $58.27, for a total transaction of $349,620.00. Following the sale, the director now owns 47,350 shares of the company’s stock, valued at approximately $2,759,084.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeffrey C. Sprecher sold 73,374 shares of Intercontinental Exchange stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $59.91, for a total transaction of $4,395,836.34. The disclosure for this sale can be found here. Insiders have sold a total of 163,024 shares of company stock worth $10,082,142 in the last ninety days. Insiders own 1.50% of the company’s stock.

About Intercontinental Exchange

Intercontinental Exchange Inc, formerly IntercontinentalExchange Group, Inc, is a network of regulated exchanges and clearing houses for financial and commodity markets. The Company delivers transparent and accessible data, technology and risk management services to markets around the world through its portfolio of exchanges, including the New York Stock Exchange, ICE Futures, Liffe and Euronext.

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

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