SPC Financial Inc. Cuts Holdings in Intercontinental Exchange Inc. $ICE

SPC Financial Inc. reduced its position in Intercontinental Exchange Inc. (NYSE:ICE) by 1.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 24,419 shares of the financial services provider’s stock after selling 478 shares during the quarter. SPC Financial Inc.’s holdings in Intercontinental Exchange were worth $4,480,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Tsfg LLC raised its position in 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 purchasing an additional 103 shares during the period. Rakuten Securities Inc. raised 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 valued at $29,000 after purchasing an additional 143 shares during the period. Activest Wealth Management raised its position in Intercontinental Exchange by 4,050.0% in the first 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. McClarren Financial Advisors Inc. purchased a new position in Intercontinental Exchange in the first quarter valued at about $30,000. Finally, Global Trust Asset Management LLC purchased a new position in Intercontinental Exchange in the first quarter valued at about $31,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ICE has been the topic of several research reports. Morgan Stanley cut their price objective on 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. Weiss Ratings reissued a “buy (b)” rating on shares of Intercontinental Exchange in a research report on Wednesday. Keefe, Bruyette & Woods raised Intercontinental Exchange to a “moderate buy” rating in a research report on Monday, October 6th. Piper Sandler raised their price objective on Intercontinental Exchange from $180.00 to $202.00 and gave the company an “overweight” rating in a research report on Tuesday, July 15th. Finally, JPMorgan Chase & Co. lifted their target price on Intercontinental Exchange from $195.00 to $203.00 and gave the stock an “overweight” rating in a research report on Thursday, September 25th. Nine research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $197.10.

Insiders Place Their Bets

In related news, 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 transaction, the director directly owned 18,169 shares in the company, valued at approximately $3,170,672.19. This trade represents a 13.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of Intercontinental Exchange stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $183.09, for a total value of $27,463,500.00. Following the completion of the transaction, the chief executive officer owned 1,951,705 shares of the company’s stock, valued at $357,337,668.45. This trade represents a 7.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 240,956 shares of company stock valued at $43,789,542. 1.00% of the stock is owned by company insiders.

Intercontinental Exchange Stock Down 1.1%

Shares of NYSE ICE opened at $157.51 on Friday. Intercontinental Exchange Inc. has a 1 year low of $142.29 and a 1 year high of $189.35. The firm has a market cap of $90.16 billion, a price-to-earnings ratio of 30.23, a PEG ratio of 1.92 and a beta of 1.08. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.01. The stock’s 50-day simple moving average is $174.01 and its 200-day simple moving average is $174.12.

Intercontinental Exchange (NYSE:ICE) last announced its 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. 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 analyst estimates of $2.50 billion. During the same period in the previous year, the company earned $1.52 earnings per share. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. As a group, equities analysts anticipate that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

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.