Sendero Wealth Management LLC Has $7.34 Million Stock Holdings in Intercontinental Exchange Inc. $ICE

Sendero Wealth Management LLC lowered its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 1.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 40,031 shares of the financial services provider’s stock after selling 531 shares during the quarter. Intercontinental Exchange accounts for 0.9% of Sendero Wealth Management LLC’s holdings, making the stock its 24th biggest position. Sendero Wealth Management LLC’s holdings in Intercontinental Exchange were worth $7,344,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ICE. Tritonpoint Wealth LLC grew its position in Intercontinental Exchange by 1.4% in the second quarter. Tritonpoint Wealth LLC now owns 4,347 shares of the financial services provider’s stock valued at $798,000 after purchasing an additional 58 shares in the last quarter. RB Capital Management LLC boosted its stake in shares of Intercontinental Exchange by 1.3% during the 2nd quarter. RB Capital Management LLC now owns 4,584 shares of the financial services provider’s stock worth $841,000 after buying an additional 59 shares during the last quarter. Chemistry Wealth Management LLC grew its holdings in shares of Intercontinental Exchange by 0.8% in the 2nd quarter. Chemistry Wealth Management LLC now owns 7,847 shares of the financial services provider’s stock valued at $1,440,000 after acquiring an additional 60 shares in the last quarter. Institute for Wealth Management LLC. increased its position in shares of Intercontinental Exchange by 1.9% in the second quarter. Institute for Wealth Management LLC. now owns 3,255 shares of the financial services provider’s stock valued at $597,000 after acquiring an additional 60 shares during the last quarter. Finally, Fielder Capital Group LLC raised its holdings in Intercontinental Exchange by 2.2% during the first quarter. Fielder Capital Group LLC now owns 2,808 shares of the financial services provider’s stock worth $484,000 after acquiring an additional 61 shares in the last quarter. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Judith A. Sprieser sold 2,900 shares of the business’s stock in a transaction 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 completion of the sale, the director directly owned 18,169 shares in the company, valued at $3,170,672.19. The trade was a 13.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 3,850 shares of the company’s stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $178.33, for a total value of $686,570.50. Following the completion of the transaction, the general counsel directly owned 46,293 shares in the company, valued at approximately $8,255,430.69. This represents a 7.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 230,874 shares of company stock valued at $42,187,714. Company insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on ICE shares. Weiss Ratings restated a “buy (b)” rating on shares of Intercontinental Exchange in a research note on Saturday, September 27th. UBS Group raised 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. Morgan Stanley dropped their price target on shares of Intercontinental Exchange from $192.00 to $188.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 1st. JPMorgan Chase & Co. lifted their price objective on shares of Intercontinental Exchange from $195.00 to $203.00 and gave the company an “overweight” rating in a research report on Thursday, September 25th. Finally, Piper Sandler boosted their price objective on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 15th. Nine research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $198.20.

Intercontinental Exchange Trading Up 0.9%

Shares of Intercontinental Exchange stock opened at $162.47 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. The business has a fifty day simple moving average of $176.53 and a two-hundred day simple moving average of $174.67. Intercontinental Exchange Inc. has a 1 year low of $142.29 and a 1 year high of $189.35. The company has a market capitalization of $93.00 billion, a price-to-earnings ratio of 31.18, a P/E/G ratio of 1.98 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last issued 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. The company had revenue of $3.26 billion for the quarter, compared to analyst estimates of $2.50 billion. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The company’s revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.52 earnings per share. Research analysts forecast that Intercontinental Exchange Inc. will post 6.73 EPS for the current 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.