Flputnam Investment Management Co. Decreases Stock Holdings in Intercontinental Exchange Inc. $ICE

Flputnam Investment Management Co. trimmed its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 27.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,859 shares of the financial services provider’s stock after selling 7,231 shares during the period. Flputnam Investment Management Co.’s holdings in Intercontinental Exchange were worth $3,054,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in ICE. Ares Financial Consulting LLC purchased a new position in shares of Intercontinental Exchange during the fourth quarter valued at approximately $25,000. Holos Integrated Wealth LLC purchased a new position in shares of Intercontinental Exchange during the fourth quarter valued at approximately $28,000. Steph & Co. raised 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 valued at $28,000 after purchasing an additional 89 shares during the last quarter. Dorato Capital Management purchased a new position in shares of Intercontinental Exchange during the fourth quarter valued at approximately $29,000. Finally, Lloyd Advisory Services LLC. purchased a new position in shares of Intercontinental Exchange during the fourth quarter valued at approximately $30,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

Intercontinental Exchange Stock Performance

Shares of NYSE ICE opened at $149.52 on Thursday. The firm has a fifty day moving average price of $157.82 and a 200-day moving average price of $160.16. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market cap of $84.55 billion, a PE ratio of 21.76, a price-to-earnings-growth ratio of 1.40 and a beta of 0.96. Intercontinental Exchange Inc. has a 1 year low of $143.17 and a 1 year high of $189.35.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, April 30th. The financial services provider reported $2.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.23 by $0.12. The firm had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $2.88 billion. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The company’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.72 earnings per share. Equities analysts anticipate that Intercontinental Exchange Inc. will post 8.15 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Morgan Stanley boosted their price objective on shares of Intercontinental Exchange from $183.00 to $187.00 and gave the company an “equal weight” rating in a report on Friday, April 10th. Deutsche Bank Aktiengesellschaft raised shares of Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 price objective for the company in a report on Friday, March 6th. Keefe, Bruyette & Woods assumed coverage on shares of Intercontinental Exchange in a report on Wednesday, April 8th. They set an “outperform” rating and a $190.00 target price for the company. Barclays reaffirmed an “overweight” rating and set a $201.00 target price (up from $198.00) on shares of Intercontinental Exchange in a report on Friday, May 1st. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $211.00 target price (up from $195.00) on shares of Intercontinental Exchange in a report on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $194.60.

Insider Transactions at Intercontinental Exchange

In other news, CTO Mayur Kapani sold 4,271 shares of the stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $155.42, for a total value of $663,798.82. Following the completion of the sale, the chief technology officer directly owned 64,869 shares of the company’s stock, valued at $10,081,939.98. This represents a 6.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Warren Gardiner sold 2,490 shares of the stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $156.64, for a total transaction of $390,033.60. Following the completion of the sale, the chief financial officer directly owned 25,189 shares of the company’s stock, valued at approximately $3,945,604.96. This trade represents a 9.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 7,428 shares of company stock valued at $1,154,736 over the last three months. Corporate insiders own 0.84% of the company’s stock.

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.