Ninety One SA PTY Ltd Sells 134 Shares of Intercontinental Exchange Inc. $ICE

Ninety One SA PTY Ltd decreased its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 4.5% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 2,844 shares of the financial services provider’s stock after selling 134 shares during the period. Ninety One SA PTY Ltd’s holdings in Intercontinental Exchange were worth $516,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Tritonpoint Wealth LLC boosted its position in Intercontinental Exchange by 1.4% during the 2nd quarter. Tritonpoint Wealth LLC now owns 4,347 shares of the financial services provider’s stock valued at $798,000 after buying an additional 58 shares during the period. RB Capital Management LLC raised its stake in shares of Intercontinental Exchange by 1.3% during the second quarter. RB Capital Management LLC now owns 4,584 shares of the financial services provider’s stock valued at $841,000 after acquiring an additional 59 shares during the last quarter. Chemistry Wealth Management LLC raised its stake in shares of Intercontinental Exchange by 0.8% during the second quarter. Chemistry Wealth Management LLC now owns 7,847 shares of the financial services provider’s stock valued at $1,440,000 after acquiring an additional 60 shares during the last quarter. Institute for Wealth Management LLC. increased its holdings in Intercontinental Exchange by 1.9% during the 2nd quarter. Institute for Wealth Management LLC. now owns 3,255 shares of the financial services provider’s stock valued at $597,000 after purchasing an additional 60 shares during the period. Finally, Fielder Capital Group LLC increased its holdings in Intercontinental Exchange by 2.2% during the 1st quarter. Fielder Capital Group LLC now owns 2,808 shares of the financial services provider’s stock valued at $484,000 after purchasing an additional 61 shares during the period. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on ICE shares. UBS Group lifted their price objective on Intercontinental Exchange from $195.00 to $210.00 and gave the stock a “buy” rating in a research report on Tuesday, July 8th. Barclays raised their price target on Intercontinental Exchange from $206.00 to $212.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. JPMorgan Chase & Co. raised their price target on Intercontinental Exchange from $195.00 to $203.00 and gave the stock an “overweight” rating in a research note on Thursday, September 25th. Finally, Piper Sandler upped 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. Nine analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $197.36.

Insider Buying and Selling at Intercontinental Exchange

In other news, General Counsel Andrew J. Surdykowski sold 3,850 shares of the business’s 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 completion of the transaction, the general counsel directly owned 46,293 shares of the company’s stock, valued at $8,255,430.69. The trade was a 7.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Duriya M. Farooqui sold 2,036 shares of the business’s stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $178.34, for a total transaction of $363,100.24. Following the transaction, the director directly owned 14,299 shares of the company’s stock, valued at $2,550,083.66. The trade was a 12.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 230,874 shares of company stock worth $42,187,714. 1.00% of the stock is owned by company insiders.

Intercontinental Exchange Price Performance

Shares of NYSE ICE opened at $168.26 on Wednesday. The firm has a market cap of $96.32 billion, a P/E ratio of 32.30, a PEG ratio of 2.01 and a beta of 1.10. The company has a 50 day moving average of $177.79 and a 200 day moving average of $174.91. Intercontinental Exchange Inc. has a twelve month low of $142.29 and a twelve month high of $189.35. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.61.

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

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.