Intercontinental Exchange Inc. $ICE Stake Lessened by Chesley Taft & Associates LLC

Chesley Taft & Associates LLC decreased its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 2.8% during the 2nd quarter, Holdings Channel.com reports. The firm owned 75,945 shares of the financial services provider’s stock after selling 2,154 shares during the quarter. Chesley Taft & Associates LLC’s holdings in Intercontinental Exchange were worth $13,934,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Pallas Capital Advisors LLC bought a new position in Intercontinental Exchange during the 2nd quarter valued at $249,000. Baron Wealth Management LLC raised its stake in shares of Intercontinental Exchange by 4.2% in the 2nd quarter. Baron Wealth Management LLC now owns 1,976 shares of the financial services provider’s stock worth $362,000 after buying an additional 80 shares in the last quarter. Financiere des Professionnels Fonds d investissement inc. acquired a new stake in shares of Intercontinental Exchange in the second quarter valued at $995,000. Fragasso Financial Advisors Inc boosted its stake in Intercontinental Exchange by 20.0% during the second quarter. Fragasso Financial Advisors Inc now owns 2,055 shares of the financial services provider’s stock valued at $377,000 after buying an additional 342 shares in the last quarter. Finally, Czech National Bank boosted its stake in Intercontinental Exchange by 6.2% during the second quarter. Czech National Bank now owns 140,162 shares of the financial services provider’s stock valued at $25,716,000 after buying an additional 8,194 shares in the last quarter. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Intercontinental Exchange Price Performance

Shares of NYSE:ICE opened at $171.36 on Wednesday. The firm has a market cap of $98.09 billion, a price-to-earnings ratio of 32.89, a P/E/G ratio of 2.05 and a beta of 1.10. Intercontinental Exchange Inc. has a 1 year low of $142.29 and a 1 year high of $189.35. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. The business has a fifty day simple moving average of $180.21 and a 200 day simple moving average of $174.99.

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

Wall Street Analysts Forecast Growth

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

Insider Transactions at Intercontinental Exchange

In related news, SVP Douglas Foley sold 1,600 shares of the firm’s stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $175.62, for a total transaction of $280,992.00. Following the transaction, the senior vice president owned 25,796 shares of the company’s stock, valued at approximately $4,530,293.52. This trade represents a 5.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Judith A. Sprieser sold 2,900 shares of the business’s stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $174.51, for a total transaction of $506,079.00. Following the completion of the sale, the director directly owned 18,169 shares of the company’s stock, valued at $3,170,672.19. This represents a 13.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 230,730 shares of company stock valued at $42,171,892 in the last ninety days. 1.00% of the stock is currently owned by insiders.

About Intercontinental Exchange

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.