Envestnet Asset Management Inc. Has $199.02 Million Holdings in Intercontinental Exchange Inc. $ICE

Envestnet Asset Management Inc. cut its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 3.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,084,743 shares of the financial services provider’s stock after selling 40,010 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Intercontinental Exchange were worth $199,018,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in ICE. Price T Rowe Associates Inc. MD lifted its stake in Intercontinental Exchange by 491.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,433,497 shares of the financial services provider’s stock valued at $1,109,780,000 after buying an additional 5,345,388 shares during the period. Nuveen LLC bought a new stake in shares of Intercontinental Exchange during the first quarter valued at approximately $575,383,000. Wellington Management Group LLP increased its holdings in shares of Intercontinental Exchange by 113.9% during the first quarter. Wellington Management Group LLP now owns 5,943,363 shares of the financial services provider’s stock valued at $1,025,230,000 after acquiring an additional 3,165,381 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Intercontinental Exchange by 50.6% during the first quarter. Bank of New York Mellon Corp now owns 5,933,532 shares of the financial services provider’s stock valued at $1,023,534,000 after acquiring an additional 1,993,084 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Intercontinental Exchange by 31.7% during the first quarter. Goldman Sachs Group Inc. now owns 3,575,859 shares of the financial services provider’s stock valued at $616,836,000 after acquiring an additional 861,679 shares in the last quarter. 89.30% of the stock is owned by institutional investors and hedge funds.

Intercontinental Exchange Trading Up 1.4%

Shares of Intercontinental Exchange stock opened at $159.78 on Tuesday. The stock has a fifty day simple moving average of $167.89 and a 200 day simple moving average of $173.70. Intercontinental Exchange Inc. has a 12-month low of $142.29 and a 12-month high of $189.35. The company has a market capitalization of $91.46 billion, a P/E ratio of 30.67, a price-to-earnings-growth ratio of 2.20 and a beta of 1.08. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, July 31st. The financial services provider reported $1.81 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $2.50 billion. During the same quarter in the previous year, the firm earned $1.52 earnings per share. The business’s revenue was up 9.8% on a year-over-year basis. On average, sell-side analysts anticipate that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Intercontinental Exchange news, Director Judith A. Sprieser sold 2,900 shares of the business’s stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $174.51, for a total value of $506,079.00. Following the transaction, the director owned 18,169 shares of the company’s stock, valued at approximately $3,170,672.19. The trade was a 13.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Andrew J. Surdykowski sold 3,850 shares of the business’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 transaction, the general counsel directly owned 46,293 shares in the company, valued at approximately $8,255,430.69. This represents a 7.68% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 240,162 shares of company stock valued at $43,642,652. 1.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Piper Sandler boosted their price objective on Intercontinental Exchange from $180.00 to $202.00 and gave the company an “overweight” rating in a report on Tuesday, July 15th. Weiss Ratings restated a “buy (b)” rating on shares of Intercontinental Exchange in a report on Wednesday, October 8th. JPMorgan Chase & Co. boosted their price objective on Intercontinental Exchange from $195.00 to $203.00 and gave the company an “overweight” rating in a report on Thursday, September 25th. Morgan Stanley decreased their price objective on Intercontinental Exchange from $188.00 to $178.00 and set an “equal weight” rating for the company in a report on Tuesday, October 21st. Finally, UBS Group boosted their price objective on Intercontinental Exchange from $195.00 to $210.00 and gave the company a “buy” rating in a report on Tuesday, July 8th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $198.60.

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.