Intercontinental Exchange Inc. $ICE Stock Sold by Investment House LLC

Investment House LLC cut its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 32.1% in the third quarter, HoldingsChannel reports. The fund owned 122,375 shares of the financial services provider’s stock after selling 57,888 shares during the period. Intercontinental Exchange makes up approximately 0.8% of Investment House LLC’s holdings, making the stock its 23rd largest holding. Investment House LLC’s holdings in Intercontinental Exchange were worth $18,605,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ICE. BlackRock Inc. bought a new position in shares of Intercontinental Exchange in the second quarter worth approximately $6,245,085,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Intercontinental Exchange in the second quarter worth $714,869,000. Flossbach Von Storch SE purchased a new stake in shares of Intercontinental Exchange in the second quarter worth $649,900,000. Bank of America Corp DE bought a new stake in shares of Intercontinental Exchange during the 2nd quarter valued at $521,557,000. Finally, Jupiter Topco LLC bought a new stake in shares of Intercontinental Exchange during the 2nd quarter valued at $474,012,000. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Price Performance

ICE stock opened at $163.82 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01. The company’s fifty day moving average price is $157.10 and its 200-day moving average price is $150.81. Intercontinental Exchange Inc. has a one year low of $121.79 and a one year high of $176.05. The company has a market capitalization of $91.97 billion, a PE ratio of 23.14, a price-to-earnings-growth ratio of 1.46 and a beta of 0.94.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.84 by $0.06. The company had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $2.63 billion. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. Intercontinental Exchange’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.81 EPS. On average, equities analysts anticipate that Intercontinental Exchange Inc. will post 8.20 EPS for the current fiscal year.

Insider Buying and Selling at Intercontinental Exchange

In other news, CTO Mayur Kapani sold 4,271 shares of the firm’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $151.20, for a total transaction of $645,775.20. Following the completion of the transaction, the chief technology officer owned 67,988 shares in the company, valued at $10,279,785.60. This trade represents a 5.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Christopher Edmonds sold 5,000 shares of Intercontinental Exchange stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $160.59, for a total value of $802,950.00. Following the completion of the sale, the insider directly owned 14,367 shares in the company, valued at $2,307,196.53. This trade represents a 25.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 41,179 shares of company stock worth $6,473,715. Insiders own 0.84% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on ICE. Morgan Stanley lifted their target price on shares of Intercontinental Exchange from $163.00 to $173.00 and gave the company an “equal weight” rating in a research note on Friday, October 9th. Piper Sandler reiterated an “overweight” rating and issued a $195.00 price target (up from $190.00) on shares of Intercontinental Exchange in a research note on Friday, October 2nd. Keefe, Bruyette & Woods restated an “outperform” rating on shares of Intercontinental Exchange in a research report on Wednesday, October 7th. Argus lowered their price objective on Intercontinental Exchange from $190.00 to $187.00 and set a “buy” rating on the stock in a research report on Friday, August 14th. Finally, Rothschild & Co Redburn increased their target price on Intercontinental Exchange from $173.00 to $181.00 and gave the stock a “buy” rating in a research report on Thursday, September 10th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Intercontinental Exchange has a consensus rating of “Moderate Buy” and an average price target of $186.31.

Intercontinental Exchange Profile

Intercontinental Exchange, Inc (NYSE:ICE) is a global operator of exchanges, clearinghouses, data services and technology platforms. The company owns and operates the New York Stock Exchange and other exchanges serving equity, options, futures and over-the-counter markets. Its marketplaces support trading in areas including energy, agricultural commodities, interest rates, currencies, equity indexes and individual stocks.

ICE also provides clearing and settlement services that help manage counterparty and transaction risk, along with market data, analytics, connectivity and other technology solutions for financial institutions and businesses.