Vaughan Nelson Investment Management L.P. Sells 599,034 Shares of Intercontinental Exchange Inc. $ICE

Vaughan Nelson Investment Management L.P. lessened its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 43.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 769,070 shares of the financial services provider’s stock after selling 599,034 shares during the quarter. Intercontinental Exchange makes up approximately 1.3% of Vaughan Nelson Investment Management L.P.’s portfolio, making the stock its 22nd biggest holding. Vaughan Nelson Investment Management L.P. owned 0.13% of Intercontinental Exchange worth $141,101,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Tritonpoint Wealth LLC grew its stake in Intercontinental Exchange by 1.4% in the 2nd quarter. Tritonpoint Wealth LLC now owns 4,347 shares of the financial services provider’s stock valued at $798,000 after buying an additional 58 shares in the last quarter. RB Capital Management LLC grew its stake in Intercontinental Exchange by 1.3% in the 2nd quarter. RB Capital Management LLC now owns 4,584 shares of the financial services provider’s stock valued at $841,000 after buying an additional 59 shares in the last quarter. Chemistry Wealth Management LLC grew its stake in Intercontinental Exchange by 0.8% in the 2nd quarter. Chemistry Wealth Management LLC now owns 7,847 shares of the financial services provider’s stock valued at $1,440,000 after buying an additional 60 shares in the last quarter. Institute for Wealth Management LLC. grew its stake in Intercontinental Exchange by 1.9% in the 2nd quarter. Institute for Wealth Management LLC. now owns 3,255 shares of the financial services provider’s stock valued at $597,000 after buying an additional 60 shares in the last quarter. Finally, Fielder Capital Group LLC grew its stake in Intercontinental Exchange by 2.2% in the 1st quarter. Fielder Capital Group LLC now owns 2,808 shares of the financial services provider’s stock valued at $484,000 after buying an additional 61 shares in the last quarter. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Up 0.9%

ICE opened at $162.47 on Friday. The company has a fifty day moving average price of $176.53 and a 200-day moving average price of $174.67. The firm has a market capitalization of $93.00 billion, a P/E ratio of 31.18, a price-to-earnings-growth ratio of 1.96 and a beta of 1.08. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01. Intercontinental Exchange Inc. has a one year low of $142.29 and a one year high of $189.35.

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

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Intercontinental Exchange in a research note on Saturday, September 27th. JPMorgan Chase & Co. lifted their price objective on shares of Intercontinental Exchange from $195.00 to $203.00 and gave the company an “overweight” rating in a research note on Thursday, September 25th. Morgan Stanley reduced their price objective on shares of Intercontinental Exchange from $192.00 to $188.00 and set an “equal weight” rating for the company in a research note on Wednesday. Piper Sandler lifted their price objective on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the company an “overweight” rating in a research note on Tuesday, July 15th. Finally, UBS Group boosted their price target on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the company a “buy” rating in a research report on Tuesday, July 8th. Nine equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $198.20.

Insider Buying and Selling

In related news, SVP Douglas Foley sold 1,600 shares of the company’s stock in a transaction on Friday, September 12th. The shares were sold at an average price of $175.62, for a total value of $280,992.00. Following the completion of the transaction, the senior vice president directly owned 25,796 shares in the company, valued at approximately $4,530,293.52. The trade was a 5.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Duriya M. Farooqui sold 2,036 shares of the company’s stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $178.34, for a total transaction of $363,100.24. Following the completion of the transaction, the director owned 14,299 shares of the company’s stock, valued at $2,550,083.66. This trade represents a 12.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 230,874 shares of company stock valued at $42,187,714 in the last three months. 1.00% of the stock is owned by corporate insiders.

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.