Intercontinental Exchange Inc. $ICE Shares Sold by Marietta Wealth Management LLC

Marietta Wealth Management LLC reduced its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 2.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,880 shares of the financial services provider’s stock after selling 209 shares during the period. Marietta Wealth Management LLC’s holdings in Intercontinental Exchange were worth $1,262,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions 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 last quarter. Nuveen LLC acquired a new stake in shares of Intercontinental Exchange in the 1st quarter worth about $575,383,000. Wellington Management Group LLP lifted its position in Intercontinental Exchange by 113.9% in the 1st 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 purchasing an additional 3,165,381 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Intercontinental Exchange by 50.6% during the 1st 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 purchasing an additional 1,993,084 shares during the period. Finally, Goldman Sachs Group Inc. grew its position in Intercontinental Exchange by 31.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,575,859 shares of the financial services provider’s stock worth $616,836,000 after purchasing an additional 861,679 shares during the last quarter. 89.30% of the stock is owned by institutional investors and hedge funds.

Intercontinental Exchange Price Performance

Shares of ICE opened at $162.47 on Friday. The stock’s fifty day moving average is $176.53 and its 200-day moving average is $174.68. Intercontinental Exchange Inc. has a one year low of $142.29 and a one year high of $189.35. The firm has a market capitalization of $93.00 billion, a price-to-earnings ratio of 31.18, a price-to-earnings-growth ratio of 1.98 and a beta of 1.08. 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 announced its earnings results on Thursday, July 31st. The financial services provider reported $1.81 earnings per share for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $2.50 billion. During the same quarter last year, the business posted $1.52 earnings per share. The company’s quarterly revenue was up 9.8% on a year-over-year basis. Equities analysts anticipate that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Insider Buying and Selling at Intercontinental Exchange

In related news, Director Judith A. Sprieser sold 2,900 shares of the firm’s stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $174.51, for a total transaction of $506,079.00. Following the completion of the transaction, the director owned 18,169 shares of the company’s stock, valued at $3,170,672.19. This trade represents a 13.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the firm’s stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $183.09, for a total value of $27,463,500.00. Following the transaction, the chief executive officer directly owned 1,951,705 shares of the company’s stock, valued at $357,337,668.45. This represents a 7.14% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 230,874 shares of company stock valued at $42,187,714. Corporate insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

ICE has been the topic of a number of recent analyst reports. Morgan Stanley cut their price target on Intercontinental Exchange from $192.00 to $188.00 and set an “equal weight” rating on the stock in a report on Wednesday. Piper Sandler lifted their target price on Intercontinental Exchange from $180.00 to $202.00 and gave the company an “overweight” rating in a research note on Tuesday, July 15th. Barclays boosted their price target on Intercontinental Exchange from $206.00 to $212.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. UBS Group raised their price target on Intercontinental Exchange from $195.00 to $210.00 and gave the company a “buy” rating in a report on Tuesday, July 8th. Finally, JPMorgan Chase & Co. raised their price target on Intercontinental Exchange from $195.00 to $203.00 and gave the company an “overweight” rating in a report on Thursday, September 25th. Nine investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $198.20.

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.