Equitable Holdings Inc. Takes $944,000 Position in Intercontinental Exchange Inc. $ICE

Equitable Holdings Inc. purchased a new position in shares of Intercontinental Exchange Inc. (NYSE:ICE) in the second quarter, according to its most recent filing with the SEC. The firm purchased 7,665 shares of the financial services provider’s stock, valued at approximately $944,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. ICONIQ Capital LLC boosted its stake in Intercontinental Exchange by 2.2% during the second quarter. ICONIQ Capital LLC now owns 2,621 shares of the financial services provider’s stock worth $481,000 after acquiring an additional 56 shares in the last quarter. Mission Wealth Management LP increased its holdings in Intercontinental Exchange by 2.4% during the fourth quarter. Mission Wealth Management LP now owns 2,611 shares of the financial services provider’s stock worth $423,000 after buying an additional 62 shares during the last quarter. Johnson Financial Group LLC raised its stake in shares of Intercontinental Exchange by 4.0% in the fourth quarter. Johnson Financial Group LLC now owns 1,710 shares of the financial services provider’s stock valued at $277,000 after buying an additional 65 shares during the period. Cornerstone Planning Group LLC lifted its holdings in Intercontinental Exchange by 33.5% during the first quarter. Cornerstone Planning Group LLC now owns 271 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 68 shares during the last quarter. Finally, Burns J W & Co. Inc. NY grew its stake in Intercontinental Exchange by 0.6% in the 1st quarter. Burns J W & Co. Inc. NY now owns 12,189 shares of the financial services provider’s stock valued at $1,917,000 after buying an additional 69 shares in the last quarter. Institutional investors own 89.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Barclays reiterated an “overweight” rating and set a $182.00 price target (up from $180.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. UBS Group restated a “buy” rating and issued a $195.00 target price (up from $190.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. Weiss Ratings upgraded Intercontinental Exchange from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday. Wall Street Zen raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Saturday, August 22nd. Finally, Morgan Stanley dropped their target price on shares of Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating for the company in a research report on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $183.33.

Intercontinental Exchange Stock Performance

Shares of ICE stock opened at $162.46 on Friday. The company’s fifty day moving average price is $144.90 and its 200-day moving average price is $151.50. The stock has a market cap of $91.20 billion, a PE ratio of 22.95, a price-to-earnings-growth ratio of 1.58 and a beta of 0.92. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63. Intercontinental Exchange Inc. has a 12 month low of $121.79 and a 12 month high of $177.76.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, July 30th. The financial services provider reported $1.90 EPS for the quarter, beating the consensus estimate of $1.84 by $0.06. The business had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $2.63 billion. Intercontinental Exchange had a return on equity of 14.95% and a net margin of 30.08%.The company’s revenue was up 4.8% compared to the same quarter last year. During the same period last year, the business posted $1.81 EPS. On average, equities analysts expect that Intercontinental Exchange Inc. will post 8.1 EPS for the current fiscal year.

Insider Activity

In other news, CTO Mayur Kapani sold 4,271 shares of the stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $151.20, for a total value of $645,775.20. Following the transaction, the chief technology officer owned 67,988 shares in the company, valued at $10,279,785.60. This represents a 5.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Warren Gardiner sold 2,491 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $156.30, for a total value of $389,343.30. Following the transaction, the chief financial officer owned 22,698 shares of the company’s stock, valued at approximately $3,547,697.40. This trade represents a 9.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 23,141 shares of company stock worth $3,554,192. 0.84% of the stock is owned by corporate insiders.

About Intercontinental Exchange

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.