Erste Asset Management GmbH Cuts Position in Intercontinental Exchange Inc. $ICE

Erste Asset Management GmbH decreased its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 16.9% in the 4th quarter, HoldingsChannel reports. The fund owned 134,748 shares of the financial services provider’s stock after selling 27,372 shares during the quarter. Erste Asset Management GmbH’s holdings in Intercontinental Exchange were worth $21,902,000 at the end of the most recent reporting period.

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

Intercontinental Exchange Trading Down 0.1%

Intercontinental Exchange stock opened at $141.36 on Monday. The stock has a market cap of $79.94 billion, a PE ratio of 20.58, a P/E/G ratio of 1.36 and a beta of 0.92. The stock has a 50-day moving average price of $155.83 and a 200 day moving average price of $159.78. Intercontinental Exchange Inc. has a 52 week low of $136.67 and a 52 week 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.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, April 30th. The financial services provider reported $2.35 EPS for the quarter, topping analysts’ consensus estimates of $2.23 by $0.12. The firm had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $2.88 billion. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The firm’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.72 EPS. Equities research analysts predict that Intercontinental Exchange Inc. will post 8.16 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, General Counsel Andrew J. Surdykowski sold 4,573 shares of Intercontinental Exchange stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $151.56, for a total transaction of $693,083.88. Following the completion of the sale, the general counsel owned 45,473 shares in the company, valued at approximately $6,891,887.88. This trade represents a 9.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Warren Gardiner sold 2,490 shares of Intercontinental Exchange 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 sale, the chief financial officer owned 25,189 shares of the company’s stock, valued at approximately $3,945,604.96. This represents a 9.00% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 12,001 shares of company stock worth $1,847,820. 0.84% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on ICE shares. Piper Sandler restated an “overweight” rating and issued a $211.00 price target (up from $195.00) on shares of Intercontinental Exchange in a research report on Wednesday, April 15th. Barclays restated an “overweight” rating and issued a $201.00 price target (up from $198.00) on shares of Intercontinental Exchange in a research report on Friday, May 1st. Keefe, Bruyette & Woods started coverage on Intercontinental Exchange in a research report on Wednesday, April 8th. They issued an “outperform” rating and a $190.00 price target for the company. Weiss Ratings cut Intercontinental Exchange from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, June 2nd. Finally, Deutsche Bank Aktiengesellschaft upgraded Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 price target for the company in a research report on Friday, March 6th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $194.60.

About Intercontinental Exchange

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.