Intercontinental Exchange Inc. $ICE Stake Reduced by Forte Capital LLC ADV

Forte Capital LLC ADV lowered its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 5.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 8,698 shares of the financial services provider’s stock after selling 473 shares during the period. Forte Capital LLC ADV’s holdings in Intercontinental Exchange were worth $1,596,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. REAP Financial Group LLC increased 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 valued at $25,000 after purchasing an additional 91 shares during the period. Tsfg LLC boosted its holdings in shares of Intercontinental Exchange by 187.3% in the first quarter. Tsfg LLC now owns 158 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 103 shares in the last quarter. Menard Financial Group LLC acquired a new position in shares of Intercontinental Exchange during the fourth quarter valued at approximately $29,000. Rakuten Securities Inc. lifted its position in Intercontinental Exchange by 595.8% in the first quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 143 shares during the period. Finally, Activest Wealth Management increased its position in shares of Intercontinental Exchange by 4,050.0% during the 1st quarter. Activest Wealth Management now owns 166 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 162 shares during the period. 89.30% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ICE has been the topic of several recent research reports. Barclays lifted their price objective on shares of Intercontinental Exchange from $206.00 to $212.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Piper Sandler upped their price target on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the company an “overweight” rating in a research report on Tuesday, July 15th. Finally, UBS Group boosted their target price on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the company a “buy” rating in a research note on Tuesday, July 8th. Ten equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $194.92.

Intercontinental Exchange Stock Up 0.3%

NYSE ICE opened at $170.29 on Tuesday. The stock’s 50 day simple moving average is $179.35 and its 200 day simple moving average is $175.01. Intercontinental Exchange Inc. has a one year low of $142.29 and a one year high of $189.35. The firm has a market cap of $97.48 billion, a PE ratio of 32.69, a price-to-earnings-growth ratio of 2.02 and a beta of 1.10. 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 (NYSE:ICE) last posted its quarterly earnings data on Thursday, July 31st. The financial services provider reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.77 by $0.04. The company had revenue of $3.26 billion for the quarter, compared to analyst estimates of $2.50 billion. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.The business’s revenue was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.52 earnings per share. As a group, sell-side analysts forecast that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Insider Activity at Intercontinental Exchange

In other news, CEO Jeffrey C. Sprecher sold 150,000 shares of the stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $183.09, for a total transaction of $27,463,500.00. Following the sale, the chief executive officer directly owned 1,951,705 shares of the company’s stock, valued at $357,337,668.45. This represents a 7.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Judith A. Sprieser sold 2,900 shares of Intercontinental Exchange stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $174.51, for a total value of $506,079.00. Following the completion of the sale, the director owned 18,169 shares of the company’s stock, valued at approximately $3,170,672.19. The trade was a 13.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 231,669 shares of company stock valued at $42,333,438 in the last three months. 1.00% of the stock is currently owned by corporate insiders.

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.