Walter Public Investments Inc. Lowers Stock Holdings in Intercontinental Exchange Inc. $ICE

Walter Public Investments Inc. cut its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 35.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 81,102 shares of the financial services provider’s stock after selling 43,891 shares during the quarter. Intercontinental Exchange accounts for 3.1% of Walter Public Investments Inc.’s investment portfolio, making the stock its 13th largest position. Walter Public Investments Inc.’s holdings in Intercontinental Exchange were worth $12,756,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in ICE. Vanguard Group Inc. lifted its position in shares of Intercontinental Exchange by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 54,153,170 shares of the financial services provider’s stock valued at $8,770,647,000 after buying an additional 413,639 shares in the last quarter. J. Stern & Co. LLP increased its holdings in Intercontinental Exchange by 17,398.1% in the 4th quarter. J. Stern & Co. LLP now owns 54,107,273 shares of the financial services provider’s stock worth $8,763,214,000 after acquiring an additional 53,798,055 shares in the last quarter. State Street Corp increased its holdings in Intercontinental Exchange by 3.4% in the 4th quarter. State Street Corp now owns 25,653,952 shares of the financial services provider’s stock worth $4,154,914,000 after acquiring an additional 837,208 shares in the last quarter. Morgan Stanley raised its position in Intercontinental Exchange by 1.0% during the fourth quarter. Morgan Stanley now owns 15,875,593 shares of the financial services provider’s stock worth $2,571,212,000 after acquiring an additional 158,450 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in Intercontinental Exchange by 64.7% during the third quarter. Wellington Management Group LLP now owns 10,354,224 shares of the financial services provider’s stock valued at $1,744,480,000 after purchasing an additional 4,067,922 shares in the last quarter. 89.30% of the stock is owned by institutional investors and hedge funds.

Intercontinental Exchange Price Performance

Shares of NYSE ICE opened at $132.57 on Friday. The firm has a 50-day simple moving average of $144.62 and a 200-day simple moving average of $156.46. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $74.97 billion, a price-to-earnings ratio of 19.30, a price-to-earnings-growth ratio of 1.24 and a beta of 0.94. Intercontinental Exchange Inc. has a 52 week low of $121.79 and a 52 week high of $189.35.

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, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $2.88 billion. During the same period in the previous year, the business posted $1.72 earnings per share. Intercontinental Exchange’s quarterly revenue was up 20.4% on a year-over-year basis. On average, equities analysts predict that Intercontinental Exchange Inc. will post 8.37 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ICE has been the topic of several research analyst reports. Keefe, Bruyette & Woods began coverage on shares of Intercontinental Exchange in a research report on Wednesday, April 8th. They issued an “outperform” rating and a $190.00 target price on the stock. Piper Sandler restated an “overweight” rating and set a $211.00 price target (up from $195.00) on shares of Intercontinental Exchange in a research report on Wednesday, April 15th. TD Cowen decreased their price target on shares of Intercontinental Exchange from $193.00 to $153.00 and set a “buy” rating on the stock in a research note on Monday, June 22nd. Morgan Stanley lifted their price objective on Intercontinental Exchange from $183.00 to $187.00 and gave the stock an “equal weight” rating in a report on Friday, April 10th. Finally, Rothschild & Co Redburn set a $177.00 price objective on Intercontinental Exchange in a research note on Thursday, June 11th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $188.58.

Insider Buying and Selling at Intercontinental Exchange

In other news, Director William Jefferson Hague sold 1,333 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $139.46, for a total transaction of $185,900.18. Following the transaction, the director directly owned 20,132 shares in the company, valued at $2,807,608.72. The trade was a 6.21% decrease in their position. 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 company’s stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $156.64, for a total value of $390,033.60. Following the completion of the sale, the chief financial officer owned 25,189 shares of the company’s stock, valued at $3,945,604.96. This trade represents a 9.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 13,425 shares of company stock worth $2,046,324. 0.84% of the stock is owned by company insiders.

Intercontinental Exchange Company Profile

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.