Intercontinental Exchange Inc. $ICE Shares Sold by Whittier Trust Co.

Whittier Trust Co. lessened its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 2.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,520 shares of the financial services provider’s stock after selling 106 shares during the quarter. Whittier Trust Co.’s holdings in Intercontinental Exchange were worth $829,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. Brighton Jones LLC raised its holdings in shares of Intercontinental Exchange by 51.3% during the fourth quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider’s stock valued at $514,000 after buying an additional 1,169 shares during the last quarter. GAMMA Investing LLC boosted its stake in Intercontinental Exchange by 42.0% in the 1st quarter. GAMMA Investing LLC now owns 13,129 shares of the financial services provider’s stock worth $2,265,000 after purchasing an additional 3,883 shares during the period. Cambridge Investment Research Advisors Inc. boosted its stake in Intercontinental Exchange by 32.7% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 32,751 shares of the financial services provider’s stock worth $5,650,000 after purchasing an additional 8,077 shares during the period. Legacy Advisors LLC boosted its stake in Intercontinental Exchange by 7.1% in the 1st quarter. Legacy Advisors LLC now owns 1,770 shares of the financial services provider’s stock worth $305,000 after purchasing an additional 118 shares during the period. Finally, Global Assets Advisory LLC purchased a new stake in Intercontinental Exchange in the 1st quarter worth approximately $314,000. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Up 0.3%

Shares of ICE stock opened at $157.39 on Friday. The firm’s fifty day moving average price is $168.73 and its two-hundred day moving average price is $173.36. 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 Inc. has a 1 year low of $142.29 and a 1 year high of $189.35. The firm has a market capitalization of $90.09 billion, a P/E ratio of 30.21, a PEG ratio of 2.20 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, July 31st. The financial services provider reported $1.81 EPS for the quarter, beating analysts’ consensus estimates of $1.77 by $0.04. The firm had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $2.50 billion. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.52 earnings per share. On average, equities analysts predict that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Insider Buying and Selling at Intercontinental Exchange

In related news, 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 transaction 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 approximately $357,337,668.45. This trade represents a 7.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 3,850 shares of the firm’s stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $178.33, for a total transaction of $686,570.50. Following 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 240,162 shares of company stock valued at $43,642,652 in the last quarter. Company insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Piper Sandler increased their target price on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 15th. Weiss Ratings reiterated a “buy (b)” rating on shares of Intercontinental Exchange in a report on Wednesday, October 8th. UBS Group boosted their price objective on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the stock a “buy” rating in a report on Tuesday, July 8th. Raymond James Financial upgraded shares of Intercontinental Exchange from an “outperform” rating to a “strong-buy” rating and set a $210.00 price objective on the stock in a report on Monday, October 13th. Finally, Morgan Stanley decreased their target price on shares of Intercontinental Exchange from $188.00 to $178.00 and set an “equal weight” rating on the stock in a research report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $198.60.

Intercontinental Exchange Company 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.