Naples Global Advisors LLC Lowers Position in Intercontinental Exchange Inc. $ICE

Naples Global Advisors LLC lessened its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 3.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,140 shares of the financial services provider’s stock after selling 500 shares during the period. Naples Global Advisors LLC’s holdings in Intercontinental Exchange were worth $2,594,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Consolidated Planning Corp boosted its position in Intercontinental Exchange by 2.5% in the 2nd quarter. Consolidated Planning Corp now owns 25,508 shares of the financial services provider’s stock worth $4,680,000 after purchasing an additional 631 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its position in Intercontinental Exchange by 55.6% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 1,563,534 shares of the financial services provider’s stock worth $286,862,000 after purchasing an additional 558,873 shares in the last quarter. BSW Wealth Partners boosted its position in Intercontinental Exchange by 4.5% in the 2nd quarter. BSW Wealth Partners now owns 2,119 shares of the financial services provider’s stock worth $389,000 after purchasing an additional 92 shares in the last quarter. USA Financial Formulas purchased a new stake in Intercontinental Exchange in the 2nd quarter worth approximately $668,000. Finally, SOA Wealth Advisors LLC. boosted its position in Intercontinental Exchange by 3.8% in the 2nd quarter. SOA Wealth Advisors LLC. now owns 12,461 shares of the financial services provider’s stock worth $2,286,000 after purchasing an additional 454 shares in the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. JPMorgan Chase & Co. increased their target price on Intercontinental Exchange from $195.00 to $203.00 and gave the company an “overweight” rating in a research report on Thursday, September 25th. UBS Group increased their target price on Intercontinental Exchange from $195.00 to $210.00 and gave the company a “buy” rating in a research report on Tuesday, July 8th. Barclays increased their target price on Intercontinental Exchange from $206.00 to $212.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Morgan Stanley decreased their target price on Intercontinental Exchange from $192.00 to $188.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Finally, Piper Sandler increased their target price on Intercontinental Exchange from $180.00 to $202.00 and gave the company an “overweight” rating in a research report on Tuesday, July 15th. Nine equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Intercontinental Exchange currently has an average rating of “Moderate Buy” and an average target price of $197.00.

Intercontinental Exchange Stock Down 3.4%

NYSE ICE opened at $162.71 on Thursday. Intercontinental Exchange Inc. has a one year low of $142.29 and a one year high of $189.35. The company has a market cap of $93.14 billion, a P/E ratio of 31.23, a P/E/G ratio of 2.01 and a beta of 1.08. The business has a fifty day moving average price of $177.43 and a 200 day moving average price of $174.82. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.01.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, July 31st. The financial services provider reported $1.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.77 by $0.04. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.The business had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same period last year, the company earned $1.52 EPS. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. Research analysts anticipate that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Insiders Place Their Bets

In other Intercontinental Exchange news, COO Stuart Glen Williams sold 939 shares of the firm’s stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $172.04, for a total value of $161,545.56. Following the completion of the sale, the chief operating officer directly owned 16,624 shares of the company’s stock, valued at $2,859,992.96. This trade represents a 5.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 3,850 shares of the firm’s stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $178.33, for a total value of $686,570.50. Following the completion of the sale, the general counsel directly owned 46,293 shares of the company’s stock, valued at $8,255,430.69. This trade represents a 7.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 230,874 shares of company stock worth $42,187,714. 1.00% of the stock is currently owned by company insiders.

Intercontinental Exchange Profile

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.