Intercontinental Exchange Inc. $ICE Shares Sold by Legal & General Group Plc

Legal & General Group Plc decreased its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 0.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 3,587,318 shares of the financial services provider’s stock after selling 30,878 shares during the period. Legal & General Group Plc’s holdings in Intercontinental Exchange were worth $581,002,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Ares Financial Consulting LLC acquired a new stake in shares of Intercontinental Exchange during the fourth quarter worth $25,000. Dorato Capital Management acquired a new stake in shares of Intercontinental Exchange during the fourth quarter worth $29,000. Steph & Co. boosted its holdings in shares of Intercontinental Exchange by 104.7% during the fourth quarter. Steph & Co. now owns 174 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 89 shares during the last quarter. Holos Integrated Wealth LLC acquired a new stake in shares of Intercontinental Exchange during the fourth quarter worth $28,000. Finally, Lloyd Advisory Services LLC. acquired a new stake in shares of Intercontinental Exchange during the fourth quarter worth $30,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Barclays restated an “overweight” rating and set a $201.00 price objective (up from $198.00) on shares of Intercontinental Exchange in a report on Friday, May 1st. Piper Sandler restated an “overweight” rating and set a $211.00 price objective (up from $195.00) on shares of Intercontinental Exchange in a report on Wednesday, April 15th. UBS Group reiterated a “buy” rating and issued a $205.00 target price on shares of Intercontinental Exchange in a report on Wednesday, May 20th. Keefe, Bruyette & Woods assumed coverage on Intercontinental Exchange in a report on Wednesday, April 8th. They issued an “outperform” rating and a $190.00 target price on the stock. Finally, TD Cowen reiterated a “buy” rating on shares of Intercontinental Exchange in a report on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $194.60.

Insiders Place Their Bets

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 4,571 shares of the business’s stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $162.00, for a total transaction of $740,502.00. Following the transaction, the general counsel owned 48,181 shares in the company, valued at $7,805,322. The trade was a 8.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Warren Gardiner sold 2,490 shares of the business’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $156.64, for a total value of $390,033.60. Following the transaction, the chief financial officer owned 25,189 shares in the company, valued at approximately $3,945,604.96. This represents a 9.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 11,332 shares of company stock worth $1,794,334 over the last quarter. 0.84% of the stock is owned by corporate insiders.

Intercontinental Exchange Price Performance

Shares of Intercontinental Exchange stock opened at $153.09 on Tuesday. Intercontinental Exchange Inc. has a twelve month low of $143.17 and a twelve month high of $189.35. The stock has a market capitalization of $86.58 billion, a P/E ratio of 22.28, a PEG ratio of 1.41 and a beta of 0.96. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63. The business’s fifty day moving average price is $158.22 and its 200 day moving average price is $160.12.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share for the quarter, beating analysts’ consensus estimates of $2.23 by $0.12. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The firm had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $2.88 billion. During the same quarter last year, the firm earned $1.72 earnings per share. The firm’s revenue for the quarter was up 20.4% compared to the same quarter last year. As a group, research analysts anticipate that Intercontinental Exchange Inc. will post 8.15 earnings per share for the current year.

Intercontinental Exchange Profile

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.