Intercontinental Exchange Inc. $ICE Holdings Lowered by Boltwood Capital Management

Boltwood Capital Management trimmed its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 3.1% in the 2nd quarter, HoldingsChannel reports. The firm owned 12,486 shares of the financial services provider’s stock after selling 400 shares during the quarter. Boltwood Capital Management’s holdings in Intercontinental Exchange were worth $2,291,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of ICE. Mad River Investors raised its position in Intercontinental Exchange by 2.3% during the second quarter. Mad River Investors now owns 7,695 shares of the financial services provider’s stock valued at $1,412,000 after buying an additional 175 shares during the period. Amanah Holdings Trust acquired a new position in Intercontinental Exchange during the second quarter valued at $27,218,000. Parallel Advisors LLC raised its position in Intercontinental Exchange by 3.3% during the second quarter. Parallel Advisors LLC now owns 7,187 shares of the financial services provider’s stock valued at $1,319,000 after buying an additional 231 shares during the period. Trust Co. of Oklahoma raised its position in Intercontinental Exchange by 0.9% during the second quarter. Trust Co. of Oklahoma now owns 10,072 shares of the financial services provider’s stock valued at $1,848,000 after buying an additional 93 shares during the period. Finally, Wesbanco Bank Inc. raised its position in Intercontinental Exchange by 112.8% during the second quarter. Wesbanco Bank Inc. now owns 3,724 shares of the financial services provider’s stock valued at $683,000 after buying an additional 1,974 shares during the period. 89.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Piper Sandler upped their price target on Intercontinental Exchange from $180.00 to $202.00 and gave the company an “overweight” rating in a research report on Tuesday, July 15th. UBS Group upped their price target on Intercontinental Exchange from $195.00 to $210.00 and gave the company a “buy” rating in a research report on Tuesday, July 8th. Finally, Barclays upped their price target on Intercontinental Exchange from $206.00 to $212.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Ten equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $194.92.

Insider Activity at Intercontinental Exchange

In other news, General Counsel Andrew J. Surdykowski sold 3,850 shares of the company’s stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $178.33, for a total transaction of $686,570.50. Following the completion of the sale, the general counsel owned 46,293 shares in the company, valued at approximately $8,255,430.69. This represents a 7.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Duriya M. Farooqui sold 2,036 shares of the company’s stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $178.34, for a total value of $363,100.24. Following the sale, the director owned 14,299 shares of the company’s stock, valued at approximately $2,550,083.66. This trade represents a 12.46% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 230,730 shares of company stock worth $42,171,892 in the last 90 days. Insiders own 1.00% of the company’s stock.

Intercontinental Exchange Stock Performance

Shares of ICE stock opened at $174.02 on Monday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01. Intercontinental Exchange Inc. has a fifty-two week low of $142.29 and a fifty-two week high of $189.35. The stock’s 50-day moving average is $180.62 and its two-hundred day moving average is $175.02. The firm has a market cap of $99.61 billion, a P/E ratio of 33.40, a PEG ratio of 2.07 and a beta of 1.10.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, July 31st. The financial services provider reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.77 by $0.04. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.The company had revenue of $3.26 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same period in the prior year, the firm posted $1.52 EPS. The business’s revenue was up 9.8% compared to the same quarter last year. Analysts predict that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal 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.