iA Global Asset Management Inc. Decreases Stock Holdings in Intercontinental Exchange Inc. $ICE

iA Global Asset Management Inc. trimmed its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 2.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 183,238 shares of the financial services provider’s stock after selling 5,129 shares during the quarter. iA Global Asset Management Inc.’s holdings in Intercontinental Exchange were worth $29,677,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Ares Financial Consulting LLC purchased a new position in Intercontinental Exchange in the 4th quarter worth approximately $25,000. Dorato Capital Management purchased a new stake in shares of Intercontinental Exchange during the 4th quarter valued at approximately $29,000. Steph & Co. raised its position in shares of Intercontinental Exchange by 104.7% during the 4th quarter. Steph & Co. now owns 174 shares of the financial services provider’s stock valued at $28,000 after buying an additional 89 shares during the period. Holos Integrated Wealth LLC purchased a new stake in shares of Intercontinental Exchange during the 4th quarter valued at approximately $28,000. Finally, Caitlin John LLC purchased a new stake in shares of Intercontinental Exchange during the 3rd quarter valued at approximately $32,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Intercontinental Exchange

In related news, General Counsel Andrew J. Surdykowski sold 4,571 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $162.00, for a total value of $740,502.00. Following the completion of the sale, the general counsel owned 48,181 shares in the company, valued at approximately $7,805,322. This trade represents a 8.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Christopher Scott Edmonds sold 11,303 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $153.82, for a total transaction of $1,738,627.46. Following the completion of the sale, the insider owned 14,266 shares of the company’s stock, valued at $2,194,396.12. This trade represents a 44.21% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 330,835 shares of company stock worth $51,275,650 in the last three months. Company insiders own 0.84% of the company’s stock.

Intercontinental Exchange Stock Down 0.8%

Intercontinental Exchange stock opened at $154.48 on Friday. Intercontinental Exchange Inc. has a fifty-two week low of $143.17 and a fifty-two week high of $189.35. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a 50 day moving average price of $159.26 and a 200 day moving average price of $159.94. The company has a market capitalization of $87.36 billion, a PE ratio of 22.49, a price-to-earnings-growth ratio of 1.43 and a beta of 0.96.

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

Wall Street Analyst Weigh In

Several analysts have recently commented on ICE shares. Morgan Stanley lifted their price target on shares of Intercontinental Exchange from $183.00 to $187.00 and gave the company an “equal weight” rating in a research report on Friday, April 10th. Deutsche Bank Aktiengesellschaft raised shares of Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 price target on the stock in a research report on Friday, March 6th. Wall Street Zen raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. Piper Sandler reaffirmed an “overweight” rating and set a $211.00 price target (up from $195.00) on shares of Intercontinental Exchange in a research report on Wednesday, April 15th. Finally, Barclays reaffirmed an “overweight” rating and set a $201.00 price target (up from $198.00) on shares of Intercontinental Exchange in a research report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $194.10.

Intercontinental Exchange Company 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.