Intercontinental Exchange, Inc. (NYSE:ICE) Shares Sold by Advisors Asset Management Inc.

Advisors Asset Management Inc. trimmed its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 15.6% in the third quarter, HoldingsChannel.com reports. The fund owned 7,341 shares of the financial services provider’s stock after selling 1,352 shares during the quarter. Advisors Asset Management Inc.’s holdings in Intercontinental Exchange were worth $1,179,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wolff Wiese Magana LLC lifted its holdings in Intercontinental Exchange by 1,470.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 147 shares in the last quarter. Northwest Investment Counselors LLC purchased a new position in shares of Intercontinental Exchange during the third quarter valued at approximately $26,000. Financial Management Professionals Inc. boosted its position in Intercontinental Exchange by 106.1% during the third quarter. Financial Management Professionals Inc. now owns 169 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 87 shares during the last quarter. Fairscale Capital LLC purchased a new stake in Intercontinental Exchange in the 2nd quarter worth approximately $25,000. Finally, Capital Performance Advisors LLP acquired a new position in Intercontinental Exchange in the 3rd quarter valued at $29,000. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on ICE shares. The Goldman Sachs Group raised their price objective on Intercontinental Exchange from $171.00 to $185.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Raymond James cut Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 price target for the company. in a report on Monday, October 14th. Piper Sandler increased their price objective on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Morgan Stanley boosted their target price on shares of Intercontinental Exchange from $160.00 to $174.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $168.00 price target on shares of Intercontinental Exchange in a research note on Tuesday, August 6th. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, Intercontinental Exchange currently has an average rating of “Moderate Buy” and an average price target of $174.13.

Intercontinental Exchange Stock Performance

Shares of NYSE:ICE opened at $159.60 on Tuesday. The business’s 50-day simple moving average is $160.59 and its 200 day simple moving average is $151.34. The company has a market cap of $91.64 billion, a P/E ratio of 37.82, a PEG ratio of 2.63 and a beta of 1.08. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.00 and a current ratio of 1.00. Intercontinental Exchange, Inc. has a one year low of $111.82 and a one year high of $167.99.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, October 31st. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.55. The company had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.35 billion. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The business’s quarterly revenue was up 17.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.46 earnings per share. On average, sell-side analysts forecast that Intercontinental Exchange, Inc. will post 6.07 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Intercontinental Exchange news, COO Stuart Glen Williams sold 468 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $162.81, for a total transaction of $76,195.08. Following the sale, the chief operating officer now directly owns 13,530 shares in the company, valued at $2,202,819.30. The trade was a 3.34 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Warren Gardiner sold 750 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $161.43, for a total value of $121,072.50. Following the transaction, the chief financial officer now owns 16,576 shares of the company’s stock, valued at approximately $2,675,863.68. This trade represents a 4.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,868 shares of company stock valued at $622,079 in the last quarter. Company insiders own 1.10% of the company’s stock.

About Intercontinental Exchange

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.