Crescent Grove Advisors LLC Sells 25,137 Shares of Intercontinental Exchange Inc. $ICE

Crescent Grove Advisors LLC decreased its position in Intercontinental Exchange Inc. (NYSE:ICE) by 16.5% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 127,363 shares of the financial services provider’s stock after selling 25,137 shares during the period. Intercontinental Exchange comprises approximately 1.9% of Crescent Grove Advisors LLC’s portfolio, making the stock its 12th largest position. Crescent Grove Advisors LLC’s holdings in Intercontinental Exchange were worth $20,032,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in ICE. ICONIQ Capital LLC raised its stake in Intercontinental Exchange by 2.2% during the 2nd quarter. ICONIQ Capital LLC now owns 2,621 shares of the financial services provider’s stock worth $481,000 after buying an additional 56 shares during the period. Mechanics Financial Corp grew its stake in Intercontinental Exchange by 1.0% in the fourth quarter. Mechanics Financial Corp now owns 6,138 shares of the financial services provider’s stock valued at $994,000 after acquiring an additional 60 shares during the period. Mission Wealth Management LP increased its holdings in shares of Intercontinental Exchange by 2.4% in the fourth quarter. Mission Wealth Management LP now owns 2,611 shares of the financial services provider’s stock worth $423,000 after acquiring an additional 62 shares in the last quarter. Aaron Wealth Advisors LLC increased its holdings in shares of Intercontinental Exchange by 1.9% in the fourth quarter. Aaron Wealth Advisors LLC now owns 3,384 shares of the financial services provider’s stock worth $548,000 after acquiring an additional 63 shares in the last quarter. Finally, Evergreen Capital Management LLC raised its position in shares of Intercontinental Exchange by 1.5% during the fourth quarter. Evergreen Capital Management LLC now owns 4,207 shares of the financial services provider’s stock worth $681,000 after purchasing an additional 63 shares during the period. Institutional investors own 89.30% of the company’s stock.

Analyst Ratings Changes

ICE has been the topic of several recent analyst reports. Keefe, Bruyette & Woods initiated coverage on Intercontinental Exchange in a report on Wednesday, April 8th. They set an “outperform” rating and a $190.00 price objective on the stock. Piper Sandler lowered their target price on Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating for the company in a research note on Wednesday. UBS Group dropped their target price on shares of Intercontinental Exchange from $205.00 to $190.00 and set a “buy” rating on the stock in a report on Tuesday, July 7th. TD Cowen cut 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. Finally, Barclays reduced their price target on shares of Intercontinental Exchange from $201.00 to $180.00 and set an “overweight” rating for the company in a report on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $181.58.

Insider Transactions at Intercontinental Exchange

In other news, CTO Mayur Kapani sold 4,271 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $155.42, for a total transaction of $663,798.82. Following the completion of the transaction, the chief technology officer directly owned 64,869 shares of the company’s stock, valued at $10,081,939.98. This trade represents a 6.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Warren Gardiner sold 2,490 shares of Intercontinental Exchange stock in a transaction that occurred on Tuesday, May 19th. The shares were 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 owned 25,189 shares in the company, valued at $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. In the last three months, insiders have sold 13,425 shares of company stock worth $2,046,324. Corporate insiders own 0.84% of the company’s stock.

Intercontinental Exchange Stock Performance

ICE opened at $139.55 on Friday. The company has a market capitalization of $78.92 billion, a price-to-earnings ratio of 20.31, a P/E/G ratio of 1.44 and a beta of 0.94. The business’s 50-day moving average price is $140.83 and its two-hundred day moving average price is $154.78. Intercontinental Exchange Inc. has a 1 year low of $121.79 and a 1 year high of $189.35. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, April 30th. The financial services provider reported $2.35 earnings per share for the quarter, topping the consensus estimate of $2.23 by $0.12. The company had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $2.88 billion. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.Intercontinental Exchange’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 firm earned $1.72 earnings per share. Equities analysts expect that Intercontinental Exchange Inc. will post 8.07 EPS for the current fiscal year.

Intercontinental Exchange 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.