Atria Investments Inc Sells 2,483 Shares of Intercontinental Exchange Inc. $ICE

Atria Investments Inc reduced its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 5.5% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 42,903 shares of the financial services provider’s stock after selling 2,483 shares during the quarter. Atria Investments Inc’s holdings in Intercontinental Exchange were worth $7,871,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Princeton Global Asset Management LLC bought a new position in Intercontinental Exchange in the 2nd quarter worth about $28,000. Activest Wealth Management increased its stake 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 worth $29,000 after acquiring an additional 162 shares during the last quarter. Hilltop National Bank bought a new position in Intercontinental Exchange in the 2nd quarter worth about $31,000. McClarren Financial Advisors Inc. bought a new position in Intercontinental Exchange in the 1st quarter worth about $30,000. Finally, Accredited Wealth Management LLC bought a new position in Intercontinental Exchange in the 1st quarter worth about $33,000. 89.30% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Intercontinental Exchange

In related news, Director Duriya M. Farooqui sold 2,036 shares of the firm’s stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $178.34, for a total transaction of $363,100.24. Following the transaction, the director directly owned 14,299 shares in the company, valued at $2,550,083.66. This trade represents a 12.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 3,850 shares of the 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 completion of the sale, the general counsel owned 46,293 shares of the company’s stock, valued at approximately $8,255,430.69. This trade represents a 7.68% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 240,162 shares of company stock worth $43,642,652 over the last quarter. Company insiders own 1.00% of the company’s stock.

Intercontinental Exchange Price Performance

ICE opened at $146.10 on Friday. The stock’s 50 day simple moving average is $165.55 and its 200 day simple moving average is $173.40. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01. 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 $83.63 billion, a price-to-earnings ratio of 28.04, a PEG ratio of 2.11 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, October 30th. The financial services provider reported $1.71 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.71. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.The business had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same period last year, the company earned $1.55 EPS. Intercontinental Exchange’s revenue for the quarter was up 2.6% compared to the same quarter last year. As a group, analysts predict that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have weighed in on ICE. Piper Sandler upped their target price on Intercontinental Exchange from $180.00 to $202.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 15th. Morgan Stanley decreased their price objective on Intercontinental Exchange from $188.00 to $178.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 21st. JPMorgan Chase & Co. decreased their price objective on Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating on the stock in a report on Friday. Barclays set a $183.00 price objective on Intercontinental Exchange and gave the company an “overweight” rating in a report on Friday. Finally, TD Cowen decreased their price objective on Intercontinental Exchange from $199.00 to $175.00 and set a “buy” rating on the stock in a report on Friday. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $191.82.

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.