USS Investment Management Ltd Trims Stock Position in Intercontinental Exchange Inc. $ICE

USS Investment Management Ltd lessened its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 2.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 633,223 shares of the financial services provider’s stock after selling 18,378 shares during the period. USS Investment Management Ltd’s holdings in Intercontinental Exchange were worth $109,266,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of ICE. Brighton Jones LLC lifted its holdings in shares of Intercontinental Exchange by 51.3% in the fourth quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider’s stock valued at $514,000 after purchasing an additional 1,169 shares in the last quarter. Captrust Financial Advisors lifted its holdings in shares of Intercontinental Exchange by 11.0% in the fourth quarter. Captrust Financial Advisors now owns 20,952 shares of the financial services provider’s stock valued at $3,122,000 after purchasing an additional 2,068 shares in the last quarter. Cetera Investment Advisers lifted its holdings in shares of Intercontinental Exchange by 6.2% in the fourth quarter. Cetera Investment Advisers now owns 70,380 shares of the financial services provider’s stock valued at $10,487,000 after purchasing an additional 4,127 shares in the last quarter. CoreCap Advisors LLC lifted its holdings in shares of Intercontinental Exchange by 271.0% in the fourth quarter. CoreCap Advisors LLC now owns 2,300 shares of the financial services provider’s stock valued at $343,000 after purchasing an additional 1,680 shares in the last quarter. Finally, Clark Capital Management Group Inc. lifted its holdings in shares of Intercontinental Exchange by 16.8% in the fourth quarter. Clark Capital Management Group Inc. now owns 19,819 shares of the financial services provider’s stock valued at $2,953,000 after purchasing an additional 2,848 shares in the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Down 0.2%

Shares of NYSE ICE opened at $174.26 on Friday. Intercontinental Exchange Inc. has a 1 year low of $142.29 and a 1 year high of $189.35. The firm’s 50 day moving average price is $181.49 and its 200 day moving average price is $174.83. The firm has a market cap of $99.75 billion, a P/E ratio of 33.45, a price-to-earnings-growth ratio of 2.08 and a beta of 1.10. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.01.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, July 31st. The financial services provider reported $1.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.77 by $0.04. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The firm had revenue of $3.26 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same quarter last year, the business earned $1.52 earnings per share. Intercontinental Exchange’s revenue was up 9.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ICE has been the topic of several recent research reports. Barclays upped their price target on shares of Intercontinental Exchange from $206.00 to $212.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Piper Sandler upped their price target on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the company an “overweight” rating in a report on Tuesday, July 15th. Finally, UBS Group upped their price objective on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the company a “buy” rating in a research note on Tuesday, July 8th. Ten analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Intercontinental Exchange currently has an average rating of “Moderate Buy” and a consensus target price of $194.92.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 3,850 shares of the stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $178.33, for a total transaction of $686,570.50. Following the transaction, the general counsel owned 46,293 shares of the company’s stock, valued at $8,255,430.69. This trade represents a 7.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Warren Gardiner sold 1,570 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $178.45, for a total transaction of $280,166.50. Following the transaction, the chief financial officer directly owned 22,106 shares in the company, valued at approximately $3,944,815.70. This represents a 6.63% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 227,830 shares of company stock valued at $41,668,789 over the last 90 days. 1.00% of the stock is currently owned by insiders.

Intercontinental Exchange 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.