Envestnet Asset Management Inc. Sells 40,010 Shares of Intercontinental Exchange Inc. $ICE

Envestnet Asset Management Inc. lowered its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 3.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,084,743 shares of the financial services provider’s stock after selling 40,010 shares during the period. Envestnet Asset Management Inc. owned approximately 0.19% of Intercontinental Exchange worth $199,018,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Intercontinental Exchange by 1.4% in the first quarter. Vanguard Group Inc. now owns 52,940,356 shares of the financial services provider’s stock worth $9,132,211,000 after purchasing an additional 712,179 shares during the period. Price T Rowe Associates Inc. MD grew its position in Intercontinental Exchange by 491.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,433,497 shares of the financial services provider’s stock valued at $1,109,780,000 after acquiring an additional 5,345,388 shares during the last quarter. Amundi grew its position in Intercontinental Exchange by 14.7% in the first quarter. Amundi now owns 6,315,706 shares of the financial services provider’s stock valued at $1,060,574,000 after acquiring an additional 810,938 shares during the last quarter. Independent Franchise Partners LLP grew its position in Intercontinental Exchange by 0.5% in the first quarter. Independent Franchise Partners LLP now owns 6,192,424 shares of the financial services provider’s stock valued at $1,068,193,000 after acquiring an additional 31,588 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in Intercontinental Exchange by 113.9% in the first quarter. Wellington Management Group LLP now owns 5,943,363 shares of the financial services provider’s stock valued at $1,025,230,000 after acquiring an additional 3,165,381 shares during the last quarter. Institutional investors own 89.30% of the company’s stock.

Insider Buying and Selling

In related news, General Counsel Andrew J. Surdykowski sold 3,850 shares of Intercontinental Exchange 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 transaction, the general counsel directly owned 46,293 shares of the company’s stock, valued at $8,255,430.69. The trade was a 7.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Mayur Kapani sold 10,082 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, October 8th. The stock was sold at an average price of $158.88, for a total value of $1,601,828.16. Following the completion of the transaction, the chief technology officer directly owned 65,240 shares in the company, valued at approximately $10,365,331.20. This represents a 13.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 240,162 shares of company stock valued at $43,642,652 over the last 90 days. 1.00% of the stock is currently owned by corporate insiders.

Intercontinental Exchange Price Performance

Intercontinental Exchange stock opened at $159.78 on Tuesday. The stock’s 50 day moving average is $167.89 and its 200 day moving average is $173.70. 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 has a market cap of $91.46 billion, a P/E ratio of 30.67, a P/E/G ratio of 2.20 and a beta of 1.08. Intercontinental Exchange Inc. has a one year low of $142.29 and a one year high of $189.35.

Intercontinental Exchange (NYSE:ICE) last posted 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. The company had revenue of $3.26 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the firm earned $1.52 earnings per share. As a group, research analysts expect that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on ICE shares. Piper Sandler lifted their target price on Intercontinental Exchange from $180.00 to $202.00 and gave the company an “overweight” rating in a research report on Tuesday, July 15th. Keefe, Bruyette & Woods upgraded Intercontinental Exchange to a “moderate buy” rating in a research report on Monday, October 6th. UBS Group lifted their target price on Intercontinental Exchange from $195.00 to $210.00 and gave the company a “buy” rating in a research report on Tuesday, July 8th. Weiss Ratings reiterated a “buy (b)” rating on shares of Intercontinental Exchange in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. lifted their target price on Intercontinental Exchange from $195.00 to $203.00 and gave the company an “overweight” rating in a research report on Thursday, September 25th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Intercontinental Exchange presently has an average rating of “Moderate Buy” and an average target price of $198.60.

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.