Farther Finance Advisors LLC Sells 388 Shares of Intercontinental Exchange Inc. $ICE

Farther Finance Advisors LLC reduced its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 7.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,836 shares of the financial services provider’s stock after selling 388 shares during the quarter. Farther Finance Advisors LLC’s holdings in Intercontinental Exchange were worth $887,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of ICE. Brighton Jones LLC boosted its holdings in shares of Intercontinental Exchange by 51.3% during the fourth quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider’s stock worth $514,000 after purchasing an additional 1,169 shares during the period. State of Wyoming boosted its holdings in shares of Intercontinental Exchange by 55.6% during the fourth quarter. State of Wyoming now owns 476 shares of the financial services provider’s stock worth $71,000 after purchasing an additional 170 shares during the period. Jefferies Financial Group Inc. boosted its holdings in shares of Intercontinental Exchange by 5.5% during the fourth quarter. Jefferies Financial Group Inc. now owns 2,459 shares of the financial services provider’s stock worth $366,000 after purchasing an additional 128 shares during the period. Chancellor Financial Group WB LP purchased a new stake in shares of Intercontinental Exchange during the fourth quarter worth about $228,000. Finally, Central Pacific Bank Trust Division boosted its holdings in shares of Intercontinental Exchange by 13.1% during the first quarter. Central Pacific Bank Trust Division now owns 16,943 shares of the financial services provider’s stock worth $2,923,000 after purchasing an additional 1,961 shares during the period. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Barclays increased their target price on shares of Intercontinental Exchange from $206.00 to $212.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. JPMorgan Chase & Co. raised their price objective on shares of Intercontinental Exchange from $195.00 to $203.00 and gave the stock an “overweight” rating in a report on Thursday. Piper Sandler raised their price objective on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the stock an “overweight” rating in a report on Tuesday, July 15th. Finally, UBS Group raised their price objective on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the stock a “buy” rating in a report on Tuesday, July 8th. Nine research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Intercontinental Exchange has an average rating of “Moderate Buy” and an average target price of $197.36.

Intercontinental Exchange Price Performance

ICE stock opened at $167.20 on Friday. The firm has a 50 day moving average price of $178.56 and a 200-day moving average price of $174.90. Intercontinental Exchange Inc. has a 52-week low of $142.29 and a 52-week high of $189.35. The firm has a market capitalization of $95.71 billion, a price-to-earnings ratio of 32.09, a PEG ratio of 2.00 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 released its earnings results on Thursday, July 31st. The financial services provider reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $2.50 billion. During the same period last year, the business earned $1.52 earnings per share. The business’s revenue was up 9.8% on a year-over-year basis. Equities research analysts forecast that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Insider Activity

In other news, Director Judith A. Sprieser sold 2,900 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $174.51, for a total transaction of $506,079.00. Following the completion of the transaction, the director directly owned 18,169 shares in the company, valued at approximately $3,170,672.19. This trade represents a 13.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Douglas Foley sold 1,600 shares of Intercontinental Exchange 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 $4,530,293.52. The trade was a 5.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 231,669 shares of company stock valued at $42,333,438. 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.