Intercontinental Exchange Inc. (NYSE:ICE) Shares Sold by Advisor OS LLC

Advisor OS LLC cut its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 33.9% during the first quarter, HoldingsChannel reports. The firm owned 1,192 shares of the financial services provider’s stock after selling 612 shares during the period. Advisor OS LLC’s holdings in Intercontinental Exchange were worth $206,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in ICE. REAP Financial Group LLC lifted its holdings in shares of Intercontinental Exchange by 116.7% during the fourth quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 91 shares during the period. Tsfg LLC raised its position in Intercontinental Exchange by 187.3% during the 1st quarter. Tsfg LLC now owns 158 shares of the financial services provider’s stock worth $27,000 after buying an additional 103 shares during the last quarter. Menard Financial Group LLC acquired a new stake in shares of Intercontinental Exchange in the 4th quarter worth $29,000. Rakuten Securities Inc. boosted its holdings in shares of Intercontinental Exchange by 595.8% in the first quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 143 shares in the last quarter. Finally, Global Trust Asset Management LLC acquired a new position in shares of Intercontinental Exchange during the first quarter worth about $31,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on ICE. Bank of America reduced their price objective on shares of Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating for the company in a research report on Wednesday, April 2nd. Piper Sandler lifted their price target on Intercontinental Exchange from $180.00 to $202.00 and gave the company an “overweight” rating in a research note on Tuesday, July 15th. Barclays increased their price objective on Intercontinental Exchange from $198.00 to $206.00 and gave the stock an “overweight” rating in a research report on Thursday, July 10th. UBS Group boosted their target price on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the stock a “buy” rating in a research report on Tuesday, July 8th. Finally, Morgan Stanley increased their price target on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the company an “equal weight” rating in a report on Monday, May 5th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $194.42.

Intercontinental Exchange Price Performance

Shares of NYSE ICE opened at $184.52 on Friday. The stock has a market cap of $105.84 billion, a price-to-earnings ratio of 38.20, a PEG ratio of 2.02 and a beta of 1.11. Intercontinental Exchange Inc. has a 52 week low of $142.29 and a 52 week high of $185.30. The company’s 50-day moving average price is $179.80 and its 200 day moving average price is $170.01. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.62.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, May 1st. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.02. The company had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.44 billion. Intercontinental Exchange had a net margin of 22.84% and a return on equity of 13.27%. The company’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.48 earnings per share. As a group, research analysts forecast that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 1.04%. Intercontinental Exchange’s payout ratio is 39.75%.

Insider Buying and Selling

In related news, Director Sharon Bowen sold 795 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $183.30, for a total transaction of $145,723.50. Following the sale, the director owned 15,000 shares of the company’s stock, valued at $2,749,500. This trade represents a 5.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the business’s stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $179.22, for a total transaction of $26,883,000.00. Following the completion of the transaction, the chief executive officer directly owned 2,101,705 shares of the company’s stock, valued at $376,667,570.10. The trade was a 6.66% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 226,119 shares of company stock valued at $40,524,217. Company insiders own 1.00% of the company’s stock.

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.