Intercontinental Exchange Inc. $ICE Holdings Lowered by Montis Financial LLC

Montis Financial LLC cut its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 6.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,121 shares of the financial services provider’s stock after selling 81 shares during the period. Montis Financial LLC’s holdings in Intercontinental Exchange were worth $206,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Advisors Capital Management LLC raised its stake in shares of Intercontinental Exchange by 25.0% in the 1st quarter. Advisors Capital Management LLC now owns 1,978 shares of the financial services provider’s stock worth $341,000 after buying an additional 396 shares in the last quarter. Capital Investment Advisory Services LLC bought a new stake in Intercontinental Exchange in the first quarter worth about $349,000. Sequoia Financial Advisors LLC raised its position in Intercontinental Exchange by 18.3% in the first quarter. Sequoia Financial Advisors LLC now owns 12,168 shares of the financial services provider’s stock worth $2,099,000 after acquiring an additional 1,879 shares in the last quarter. Ritholtz Wealth Management lifted its holdings in Intercontinental Exchange by 52.3% in the 1st quarter. Ritholtz Wealth Management now owns 7,953 shares of the financial services provider’s stock valued at $1,372,000 after acquiring an additional 2,732 shares during the last quarter. Finally, First American Bank boosted its position in shares of Intercontinental Exchange by 2.1% during the 1st quarter. First American Bank now owns 76,332 shares of the financial services provider’s stock valued at $13,167,000 after purchasing an additional 1,580 shares in the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on ICE shares. 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 report on Tuesday, July 8th. Barclays upped their target price 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 target on Intercontinental Exchange from $195.00 to $203.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Piper Sandler boosted their price objective on Intercontinental Exchange from $180.00 to $202.00 and gave the stock an “overweight” rating in a report on Tuesday, July 15th. Nine 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 has an average rating of “Moderate Buy” and a consensus price target of $197.36.

Insider Activity

In other news, Director Duriya M. Farooqui sold 2,036 shares of the stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $178.34, for a total value of $363,100.24. Following the completion of the transaction, the director directly owned 14,299 shares of the company’s stock, valued at approximately $2,550,083.66. This represents a 12.46% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Douglas Foley sold 1,600 shares of the business’s stock in a transaction on Friday, September 12th. The shares were sold at an average price of $175.62, for a total value of $280,992.00. Following the completion of the sale, the senior vice president directly owned 25,796 shares in the company, valued at approximately $4,530,293.52. This represents a 5.84% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 231,669 shares of company stock valued at $42,333,438. 1.00% of the stock is owned by company insiders.

Intercontinental Exchange Stock Up 0.2%

ICE opened at $167.69 on Monday. The company has a market capitalization of $95.99 billion, a P/E ratio of 32.19, a P/E/G ratio of 2.00 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. The firm’s fifty day moving average price is $178.30 and its two-hundred day moving average price is $174.98. Intercontinental Exchange Inc. has a fifty-two week low of $142.29 and a fifty-two week high of $189.35.

Intercontinental Exchange (NYSE:ICE) last released 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. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The company had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same period last year, the firm earned $1.52 EPS. The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. On average, analysts anticipate that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

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.