Intercontinental Exchange, Inc. (NYSE:ICE) Stake Trimmed by Triangle Securities Wealth Management

Triangle Securities Wealth Management lessened its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 3.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,177 shares of the financial services provider’s stock after selling 283 shares during the quarter. Triangle Securities Wealth Management’s holdings in Intercontinental Exchange were worth $1,219,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC lifted its stake in Intercontinental Exchange by 1.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 35,151 shares of the financial services provider’s stock worth $5,647,000 after acquiring an additional 366 shares in the last quarter. M&T Bank Corp lifted its position in shares of Intercontinental Exchange by 33.2% in the third quarter. M&T Bank Corp now owns 46,689 shares of the financial services provider’s stock worth $7,500,000 after purchasing an additional 11,648 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. boosted its holdings in shares of Intercontinental Exchange by 9.2% during the fourth quarter. Dixon Mitchell Investment Counsel Inc. now owns 728,133 shares of the financial services provider’s stock worth $108,515,000 after purchasing an additional 61,110 shares during the period. Toronto Dominion Bank grew its holdings in shares of Intercontinental Exchange by 1.6% during the 3rd quarter. Toronto Dominion Bank now owns 310,560 shares of the financial services provider’s stock valued at $49,888,000 after acquiring an additional 4,973 shares in the last quarter. Finally, Oddo BHF Asset Management Sas acquired a new position in shares of Intercontinental Exchange in the third quarter worth $14,880,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft lifted their price objective on Intercontinental Exchange from $160.00 to $163.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Keefe, Bruyette & Woods decreased their target price on shares of Intercontinental Exchange from $183.00 to $178.00 and set an “outperform” rating for the company in a research report on Monday, January 13th. Piper Sandler increased their target price on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. JPMorgan Chase & Co. reduced their price target on Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating for the company in a research report on Friday. Finally, The Goldman Sachs Group increased their price objective on Intercontinental Exchange from $171.00 to $185.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $175.27.

Intercontinental Exchange Price Performance

Shares of Intercontinental Exchange stock opened at $149.07 on Friday. The firm has a fifty day moving average price of $153.20 and a two-hundred day moving average price of $155.53. Intercontinental Exchange, Inc. has a fifty-two week low of $124.34 and a fifty-two week high of $167.99. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.00 and a quick ratio of 1.00. The company has a market cap of $85.59 billion, a PE ratio of 35.33, a price-to-earnings-growth ratio of 2.29 and a beta of 1.10.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, hitting the consensus estimate 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 return on equity of 12.75% and a net margin of 21.31%. Intercontinental Exchange’s revenue for the quarter was up 17.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.46 EPS. Analysts expect that Intercontinental Exchange, Inc. will post 6.06 EPS for the current year.

Insiders Place Their Bets

In other Intercontinental Exchange news, President Benjamin Jackson sold 5,828 shares of Intercontinental Exchange stock in a transaction on Monday, November 25th. The stock was sold at an average price of $160.00, for a total transaction of $932,480.00. Following the completion of the transaction, the president now directly owns 156,163 shares of the company’s stock, valued at approximately $24,986,080. This trade represents a 3.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Stuart Glen Williams sold 750 shares of the company’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $152.99, for a total transaction of $114,742.50. Following the sale, the chief operating officer now directly owns 12,780 shares in the company, valued at $1,955,212.20. This represents a 5.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 13,795 shares of company stock worth $2,120,572 over the last 90 days. Corporate 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.