Advisors Asset Management Inc. Cuts Stock Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Advisors Asset Management Inc. cut its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 15.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,341 shares of the financial services provider’s stock after selling 1,352 shares during the period. Advisors Asset Management Inc.’s holdings in Intercontinental Exchange were worth $1,179,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of ICE. Silvercrest Asset Management Group LLC lifted its stake in Intercontinental Exchange by 7.8% in the first quarter. Silvercrest Asset Management Group LLC now owns 16,243 shares of the financial services provider’s stock worth $2,232,000 after acquiring an additional 1,180 shares during the last quarter. Janus Henderson Group PLC raised its position in shares of Intercontinental Exchange by 589.4% during the 1st quarter. Janus Henderson Group PLC now owns 804,507 shares of the financial services provider’s stock worth $110,559,000 after acquiring an additional 687,817 shares in the last quarter. Dynasty Wealth Management LLC purchased a new stake in Intercontinental Exchange during the first quarter worth approximately $692,000. B. Riley Wealth Advisors Inc. boosted its holdings in Intercontinental Exchange by 61.0% in the first quarter. B. Riley Wealth Advisors Inc. now owns 8,082 shares of the financial services provider’s stock valued at $1,111,000 after purchasing an additional 3,062 shares in the last quarter. Finally, California State Teachers Retirement System increased its stake in Intercontinental Exchange by 0.9% in the first quarter. California State Teachers Retirement System now owns 924,227 shares of the financial services provider’s stock valued at $127,017,000 after purchasing an additional 7,802 shares during the last quarter. 89.30% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $159.57, for a total value of $326,799.36. Following the completion of the transaction, the general counsel now directly owns 44,865 shares of the company’s stock, valued at $7,159,108.05. This trade represents a 4.37 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Warren Gardiner sold 750 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $161.43, for a total value of $121,072.50. Following the sale, the chief financial officer now owns 16,576 shares in the company, valued at approximately $2,675,863.68. The trade was a 4.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,868 shares of company stock worth $622,079. 1.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. The Goldman Sachs Group upped their target price on shares of Intercontinental Exchange from $171.00 to $185.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Morgan Stanley raised their price objective on Intercontinental Exchange from $160.00 to $174.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. StockNews.com raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. JPMorgan Chase & Co. raised their price target on Intercontinental Exchange from $171.00 to $188.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Finally, Piper Sandler boosted their price objective on Intercontinental Exchange from $170.00 to $180.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $174.13.

Intercontinental Exchange Stock Up 0.2 %

ICE opened at $159.60 on Tuesday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.00 and a quick ratio of 1.00. Intercontinental Exchange, Inc. has a 12 month low of $111.82 and a 12 month high of $167.99. The stock has a market capitalization of $91.64 billion, a P/E ratio of 37.82, a P/E/G ratio of 2.63 and a beta of 1.08. The business has a 50 day simple moving average of $160.59 and a 200-day simple moving average of $151.34.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, October 31st. The financial services provider reported $1.55 EPS for the quarter, hitting the consensus estimate of $1.55. The company had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.35 billion. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The business’s revenue was up 17.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.46 EPS. On average, equities analysts anticipate that Intercontinental Exchange, Inc. will post 6.07 earnings per share for the current fiscal year.

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.