Intercontinental Exchange Inc. $ICE Shares Sold by Hartford Investment Management Co.

Hartford Investment Management Co. decreased its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 1.3% during the 2nd quarter, Holdings Channel.com reports. The fund owned 34,634 shares of the financial services provider’s stock after selling 450 shares during the period. Hartford Investment Management Co.’s holdings in Intercontinental Exchange were worth $6,354,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Tsfg LLC lifted its stake 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 acquiring an additional 103 shares in the last quarter. Rakuten Securities Inc. lifted its stake in Intercontinental Exchange by 595.8% during the 1st quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 143 shares in the last quarter. Activest Wealth Management raised its position in Intercontinental Exchange by 4,050.0% in 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 in the last quarter. McClarren Financial Advisors Inc. acquired a new stake in Intercontinental Exchange in the 1st quarter valued at about $30,000. Finally, Global Trust Asset Management LLC acquired a new stake in Intercontinental Exchange in the 1st quarter valued at about $31,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Insider Activity

In other Intercontinental Exchange news, SVP Douglas Foley sold 1,600 shares of the stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $175.62, for a total transaction of $280,992.00. Following the completion of the sale, the senior vice president directly owned 25,796 shares of the company’s stock, valued at approximately $4,530,293.52. This trade represents a 5.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Judith A. Sprieser sold 2,900 shares of the stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $174.51, for a total value of $506,079.00. Following the sale, the director directly owned 18,169 shares of the company’s stock, valued at $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 have sold a total of 231,669 shares of company stock worth $42,333,438 over the last ninety days. 1.00% of the stock is owned by corporate insiders.

Intercontinental Exchange Trading Down 0.5%

NYSE:ICE opened at $167.20 on Friday. The stock’s 50 day moving average price is $178.56 and its 200 day moving average price is $174.90. The company has a market capitalization of $95.71 billion, a PE ratio of 32.09, a P/E/G ratio of 2.00 and a beta of 1.10. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.61. Intercontinental Exchange Inc. has a 52-week low of $142.29 and a 52-week high of $189.35.

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

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. UBS Group increased 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. Barclays increased their price objective on Intercontinental Exchange from $206.00 to $212.00 and gave the company an “overweight” rating in a report on Friday, August 1st. JPMorgan Chase & Co. increased their price objective on Intercontinental Exchange from $195.00 to $203.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Piper Sandler increased their price objective on Intercontinental Exchange from $180.00 to $202.00 and gave the company an “overweight” rating in a report on Tuesday, July 15th. Nine equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Intercontinental Exchange has a consensus rating of “Moderate Buy” and a consensus target price of $197.36.

Intercontinental Exchange Company 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.