Dimensional Fund Advisors LP Lowers Holdings in Intercontinental Exchange Inc. $ICE

Dimensional Fund Advisors LP lowered its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 4.9% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,257,040 shares of the financial services provider’s stock after selling 116,967 shares during the period. Dimensional Fund Advisors LP’s holdings in Intercontinental Exchange were worth $354,991,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in ICE. Parallel Advisors LLC grew its stake in shares of Intercontinental Exchange by 3.5% in the first quarter. Parallel Advisors LLC now owns 7,042 shares of the financial services provider’s stock worth $1,108,000 after acquiring an additional 236 shares in the last quarter. AlphaCentric Advisors LLC raised its stake in shares of Intercontinental Exchange by 6.0% in the first quarter. AlphaCentric Advisors LLC now owns 1,256 shares of the financial services provider’s stock valued at $198,000 after acquiring an additional 71 shares in the last quarter. SEB Asset Management AB purchased a new position in Intercontinental Exchange in the first quarter valued at $19,059,000. Annis Gardner Whiting Capital Advisors LLC boosted its holdings in Intercontinental Exchange by 2.5% in the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 12,560 shares of the financial services provider’s stock valued at $1,975,000 after purchasing an additional 302 shares during the period. Finally, Bartlett & CO. Wealth Management LLC grew its stake in Intercontinental Exchange by 2.3% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 4,640 shares of the financial services provider’s stock worth $726,000 after purchasing an additional 106 shares in the last quarter. 89.30% of the stock is owned by hedge funds and other institutional investors.

Intercontinental Exchange Trading Down 2.2%

Shares of Intercontinental Exchange stock opened at $138.50 on Wednesday. The company has a fifty day simple moving average of $140.17 and a 200-day simple moving average of $154.40. Intercontinental Exchange Inc. has a 12-month low of $121.79 and a 12-month high of $189.35. 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 stock has a market cap of $78.32 billion, a price-to-earnings ratio of 20.16, a PEG ratio of 1.46 and a beta of 0.94.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, April 30th. The financial services provider reported $2.35 EPS for the quarter, topping the consensus estimate of $2.23 by $0.12. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The firm had revenue of $3.67 billion for the quarter, compared to analyst estimates of $2.88 billion. During the same period last year, the business earned $1.72 EPS. Intercontinental Exchange’s revenue for the quarter was up 20.4% compared to the same quarter last year. On average, equities analysts forecast that Intercontinental Exchange Inc. will post 8.07 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CTO Mayur Kapani sold 4,271 shares of the business’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $155.42, for a total value of $663,798.82. Following the completion of the sale, the chief technology officer directly owned 64,869 shares of the company’s stock, valued at approximately $10,081,939.98. The trade was a 6.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Sharon Bowen sold 667 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $151.28, for a total value of $100,903.76. Following the completion of the sale, the director directly owned 15,077 shares of the company’s stock, valued at approximately $2,280,848.56. This trade represents a 4.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 13,425 shares of company stock valued at $2,046,324 over the last ninety days. Company insiders own 0.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. UBS Group cut their price target on Intercontinental Exchange from $205.00 to $190.00 and set a “buy” rating on the stock in a report on Tuesday, July 7th. Weiss Ratings cut Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, June 17th. Raymond James Financial set a $208.00 target price on shares of Intercontinental Exchange in a research note on Monday, July 6th. Piper Sandler decreased their price target on shares of Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating for the company in a research note on Wednesday, July 15th. Finally, Keefe, Bruyette & Woods assumed coverage on shares of Intercontinental Exchange in a report on Wednesday, April 8th. They set an “outperform” rating and a $190.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $181.58.

Intercontinental Exchange Company 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.