Reinhart Partners LLC. Cuts Stake in Intercontinental Exchange Inc. $ICE

Reinhart Partners LLC. lessened its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 25.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 30,715 shares of the financial services provider’s stock after selling 10,468 shares during the period. Reinhart Partners LLC.’s holdings in Intercontinental Exchange were worth $4,975,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Phillips Wealth Planners LLC grew its stake in Intercontinental Exchange by 35.8% in the fourth quarter. Phillips Wealth Planners LLC now owns 3,114 shares of the financial services provider’s stock valued at $535,000 after purchasing an additional 821 shares during the last quarter. CIBC Asset Management Inc grew its stake in Intercontinental Exchange by 28.3% in the fourth quarter. CIBC Asset Management Inc now owns 249,647 shares of the financial services provider’s stock valued at $40,421,000 after purchasing an additional 55,075 shares during the last quarter. Marble Wealth LLC purchased a new position in Intercontinental Exchange in the fourth quarter valued at about $339,000. Dover Advisors LLC grew its stake in Intercontinental Exchange by 25.4% in the fourth quarter. Dover Advisors LLC now owns 5,283 shares of the financial services provider’s stock valued at $856,000 after purchasing an additional 1,071 shares during the last quarter. Finally, Kesler Norman & Wride LLC grew its stake in Intercontinental Exchange by 3.1% in the fourth quarter. Kesler Norman & Wride LLC now owns 53,177 shares of the financial services provider’s stock valued at $8,612,000 after purchasing an additional 1,622 shares during the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Price Performance

Shares of ICE stock opened at $142.53 on Wednesday. Intercontinental Exchange Inc. has a fifty-two week low of $136.67 and a fifty-two week high of $189.35. The firm has a market capitalization of $80.60 billion, a price-to-earnings ratio of 20.75, a PEG ratio of 1.39 and a beta of 0.92. 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 stock’s 50-day simple moving average is $157.12 and its 200-day simple moving average is $160.10.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share for the quarter, topping analysts’ consensus estimates of $2.23 by $0.12. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The business had revenue of $3.67 billion for the quarter, compared to analyst estimates of $2.88 billion. During the same quarter in the previous year, the firm earned $1.72 earnings per share. The company’s revenue was up 20.4% on a year-over-year basis. As a group, equities analysts forecast that Intercontinental Exchange Inc. will post 8.16 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, General Counsel Andrew J. Surdykowski sold 4,573 shares of the business’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $151.56, for a total transaction of $693,083.88. Following the sale, the general counsel owned 45,473 shares in the company, valued at approximately $6,891,887.88. The trade was a 9.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Mayur Kapani sold 4,271 shares of the business’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $155.42, for a total value of $663,798.82. Following the sale, the chief technology officer owned 64,869 shares in the company, valued at $10,081,939.98. The trade was a 6.18% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 12,001 shares of company stock worth $1,847,820 over the last ninety days. Insiders own 0.84% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on ICE shares. Keefe, Bruyette & Woods started coverage on Intercontinental Exchange in a research note on Wednesday, April 8th. They issued an “outperform” rating and a $190.00 target price on the stock. TD Cowen reiterated a “buy” rating on shares of Intercontinental Exchange in a research note on Friday, February 6th. Piper Sandler reiterated an “overweight” rating and issued a $211.00 target price (up from $195.00) on shares of Intercontinental Exchange in a research note on Wednesday, April 15th. Weiss Ratings lowered Intercontinental Exchange from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, April 24th. Finally, UBS Group reiterated a “buy” rating and issued a $205.00 target price on shares of Intercontinental Exchange in a research note on Wednesday, May 20th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $194.60.

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.