Harrell Investment Partners LLC Has $924,000 Stock Position in Intercontinental Exchange Inc. $ICE

Harrell Investment Partners LLC trimmed its position in Intercontinental Exchange Inc. (NYSE:ICE) by 2.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,035 shares of the financial services provider’s stock after selling 109 shares during the quarter. Harrell Investment Partners LLC’s holdings in Intercontinental Exchange were worth $924,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Retireful LLC boosted its holdings in Intercontinental Exchange by 26.8% during the second quarter. Retireful LLC now owns 3,804 shares of the financial services provider’s stock worth $698,000 after buying an additional 805 shares during the last quarter. Verum Partners LLC boosted its holdings in Intercontinental Exchange by 16.4% during the second quarter. Verum Partners LLC now owns 1,649 shares of the financial services provider’s stock worth $302,000 after buying an additional 232 shares during the last quarter. Mather Group LLC. boosted its holdings in Intercontinental Exchange by 4.0% during the second quarter. Mather Group LLC. now owns 2,665 shares of the financial services provider’s stock worth $489,000 after buying an additional 102 shares during the last quarter. Carr Financial Group Corp bought a new position in Intercontinental Exchange during the second quarter worth about $215,000. Finally, Ballentine Partners LLC boosted its holdings in Intercontinental Exchange by 30.4% during the second quarter. Ballentine Partners LLC now owns 7,737 shares of the financial services provider’s stock worth $1,420,000 after buying an additional 1,802 shares during the last quarter. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ICE has been the topic of a number of recent analyst reports. UBS Group raised their target price on Intercontinental Exchange from $195.00 to $210.00 and gave the stock a “buy” rating in a report on Tuesday, July 8th. Piper Sandler raised their target price on Intercontinental Exchange from $180.00 to $202.00 and gave the stock an “overweight” rating in a report on Tuesday, July 15th. Finally, Barclays raised their target price on Intercontinental Exchange from $206.00 to $212.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Ten investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $194.92.

Intercontinental Exchange Trading Down 0.1%

NYSE:ICE opened at $167.94 on Thursday. Intercontinental Exchange Inc. has a fifty-two week low of $142.29 and a fifty-two week high of $189.35. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market capitalization of $96.13 billion, a PE ratio of 32.23, a price-to-earnings-growth ratio of 2.00 and a beta of 1.10. The business’s 50-day simple moving average is $178.86 and its 200-day simple moving average is $174.91.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, July 31st. The financial services provider reported $1.81 earnings per share for the quarter, beating 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 business had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $2.50 billion. During the same quarter in the previous year, the business posted $1.52 EPS. Intercontinental Exchange’s revenue for the quarter was up 9.8% on a year-over-year basis. Sell-side analysts expect that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 3,850 shares of the business’s stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $178.33, for a total value of $686,570.50. Following the sale, the general counsel owned 46,293 shares in the company, valued at approximately $8,255,430.69. The trade was a 7.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Duriya M. Farooqui sold 2,036 shares of the business’s stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $178.34, for a total value of $363,100.24. Following the completion of the sale, the director owned 14,299 shares in the company, valued at $2,550,083.66. The trade was a 12.46% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 231,669 shares of company stock worth $42,333,438. Corporate insiders own 1.00% of the company’s stock.

About Intercontinental Exchange

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.