Trillium Asset Management LLC Has $35.01 Million Holdings in Intercontinental Exchange Inc. $ICE

Trillium Asset Management LLC cut its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 20.3% in the 4th quarter, HoldingsChannel reports. The fund owned 212,759 shares of the financial services provider’s stock after selling 54,055 shares during the quarter. Intercontinental Exchange makes up 1.1% of Trillium Asset Management LLC’s investment portfolio, making the stock its 20th largest position. Trillium Asset Management LLC’s holdings in Intercontinental Exchange were worth $35,010,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Ares Financial Consulting LLC bought a new position in shares of Intercontinental Exchange during the fourth quarter worth approximately $25,000. Holos Integrated Wealth LLC bought a new position in shares of Intercontinental Exchange during the fourth quarter worth approximately $28,000. Steph & Co. increased 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 period. Swiss RE Ltd. bought a new position in shares of Intercontinental Exchange during the fourth quarter worth approximately $28,000. Finally, Dorato Capital Management bought a new position in shares of Intercontinental Exchange during the fourth quarter worth approximately $29,000. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Intercontinental Exchange Stock Performance

NYSE ICE opened at $140.26 on Friday. 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 firm has a market capitalization of $79.32 billion, a price-to-earnings ratio of 20.42, a P/E/G ratio of 1.33 and a beta of 0.92. The firm’s 50 day simple moving average is $154.22 and its 200 day simple moving average is $159.27. Intercontinental Exchange Inc. has a 1 year low of $136.67 and a 1 year high of $189.35.

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

Analyst Upgrades and Downgrades

Several research analysts have recently commented on ICE shares. UBS Group reaffirmed a “buy” rating and set a $205.00 target price on shares of Intercontinental Exchange in a report on Wednesday, May 20th. Weiss Ratings cut shares of Intercontinental Exchange from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, June 2nd. Piper Sandler reaffirmed an “overweight” rating and set a $211.00 target price (up from $195.00) on shares of Intercontinental Exchange in a report on Wednesday, April 15th. Morgan Stanley raised their target price on shares of Intercontinental Exchange from $183.00 to $187.00 and gave the stock an “equal weight” rating in a report on Friday, April 10th. Finally, Rothschild & Co Redburn set a $177.00 target price on shares of Intercontinental Exchange in a report on Thursday. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $193.00.

Insider Activity

In related news, CTO Mayur Kapani sold 4,271 shares of the stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $155.42, for a total transaction of $663,798.82. Following the sale, the chief technology officer owned 64,869 shares in the company, valued at approximately $10,081,939.98. This trade represents a 6.18% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Sharon Bowen sold 667 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $151.28, for a total transaction of $100,903.76. Following the sale, the director owned 15,077 shares in the company, valued at $2,280,848.56. This represents a 4.24% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 12,092 shares of company stock worth $1,860,424. Insiders own 0.84% of the company’s stock.

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.