Truist Financial Corp Has $20.08 Million Holdings in Intercontinental Exchange Inc. $ICE

Truist Financial Corp lifted its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 5.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 123,975 shares of the financial services provider’s stock after acquiring an additional 6,647 shares during the quarter. Truist Financial Corp’s holdings in Intercontinental Exchange were worth $20,079,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of ICE. Ares Financial Consulting LLC acquired a new position in shares of Intercontinental Exchange during the fourth quarter worth $25,000. Holos Integrated Wealth LLC acquired a new position in shares of Intercontinental Exchange during the fourth quarter worth $28,000. Steph & Co. lifted its holdings in shares of Intercontinental Exchange by 104.7% during the fourth quarter. Steph & Co. now owns 174 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 89 shares during the period. Dorato Capital Management acquired a new position in shares of Intercontinental Exchange during the fourth quarter worth $29,000. Finally, Caitlin John LLC acquired a new position in shares of Intercontinental Exchange during the third quarter worth $32,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, insider Lynn C. Martin sold 13,456 shares of Intercontinental Exchange stock in a transaction on Friday, February 20th. The shares were sold at an average price of $153.86, for a total value of $2,070,340.16. Following the completion of the sale, the insider directly owned 54,319 shares of the company’s stock, valued at approximately $8,357,521.34. The trade was a 19.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 4,571 shares of Intercontinental Exchange stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $162.00, for a total transaction of $740,502.00. Following the completion of the sale, the general counsel directly owned 48,181 shares of the company’s stock, valued at approximately $7,805,322. This trade represents a 8.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 343,696 shares of company stock valued at $53,397,715. 0.84% of the stock is owned by insiders.

Intercontinental Exchange Price Performance

ICE stock opened at $153.57 on Thursday. The firm has a market cap of $86.84 billion, a price-to-earnings ratio of 22.35, a PEG ratio of 1.43 and a beta of 0.96. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63. Intercontinental Exchange Inc. has a 12-month low of $143.17 and a 12-month high of $189.35. The company’s fifty day simple moving average is $160.23 and its 200 day simple moving average is $159.99.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share for the quarter, beating the consensus estimate of $2.23 by $0.12. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The firm had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $2.88 billion. During the same period in the previous year, the firm posted $1.72 earnings per share. The business’s revenue was up 20.4% compared to the same quarter last year. On average, analysts expect that Intercontinental Exchange Inc. will post 8.16 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently commented on ICE. Weiss Ratings lowered shares of Intercontinental Exchange from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, April 24th. UBS Group restated a “buy” rating and issued a $200.00 target price on shares of Intercontinental Exchange in a report on Monday, February 9th. TD Cowen restated a “buy” rating on shares of Intercontinental Exchange in a report on Friday, February 6th. Wall Street Zen upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 target price on the stock in a report on Friday, March 6th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $194.10.

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.