2,864 Intercontinental Exchange Inc. $ICE Shares Sold by SVB Wealth LLC

SVB Wealth LLC cut its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 11.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,908 shares of the financial services provider’s stock after selling 2,864 shares during the quarter. SVB Wealth LLC’s holdings in Intercontinental Exchange were worth $3,483,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. BlackRock Inc. acquired a new stake in shares of Intercontinental Exchange in the second quarter worth $6,245,085,000. State Street Corp raised its stake in Intercontinental Exchange by 1.6% during the 2nd quarter. State Street Corp now owns 25,966,680 shares of the financial services provider’s stock valued at $3,196,758,000 after purchasing an additional 415,490 shares during the last quarter. Wellington Management Group LLP raised its stake in Intercontinental Exchange by 16.1% during the 2nd quarter. Wellington Management Group LLP now owns 11,812,273 shares of the financial services provider’s stock valued at $1,454,209,000 after purchasing an additional 1,634,385 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Intercontinental Exchange during the 2nd quarter valued at $714,869,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Intercontinental Exchange by 1.0% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,298,162 shares of the financial services provider’s stock valued at $652,257,000 after purchasing an additional 52,910 shares during the period. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting Intercontinental Exchange

These are some of the ICE stories that stood out recently:

• Positive Sentiment: ICE plans to introduce wind futures covering seven European countries, expanding its derivatives offerings and potentially creating additional trading activity. Article: ICE Plans to Launch Wind Futures
• Positive Sentiment: Analysts’ consensus price target is $189.25, above the quoted share price of $177.80, indicating potential upside in their forecasts. Article: ICE Stock Has Consensus Price Target of $189.25
• Neutral Sentiment: One Seeking Alpha analysis maintained a bullish view after ICE’s 18% rally, but the sharp recent advance may also leave less room for near-term gains. Article: Intercontinental Exchange: Still a Buy After the 18% Rally

Intercontinental Exchange Trading Down 1.5%

Shares of ICE stock opened at $177.80 on Friday. The firm has a fifty day moving average of $160.03 and a 200-day moving average of $154.71. The stock has a market cap of $99.36 billion, a price-to-earnings ratio of 24.26, a P/E/G ratio of 1.59 and a beta of 0.84. Intercontinental Exchange Inc. has a 52-week low of $121.79 and a 52-week high of $181.38. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.03 and a current ratio of 1.03.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, October 29th. The financial services provider reported $2.02 earnings per share for the quarter, beating the consensus estimate of $1.97 by $0.05. Intercontinental Exchange had a net margin of 29.62% and a return on equity of 15.32%. The business had revenue of $3.63 billion for the quarter, compared to analyst estimates of $2.74 billion. During the same period in the previous year, the business earned $1.71 EPS. The firm’s revenue was up 14.7% on a year-over-year basis. On average, equities research analysts forecast that Intercontinental Exchange Inc. will post 8.21 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Jefferies Financial Group decreased their price target on shares of Intercontinental Exchange from $189.00 to $185.00 in a research report on Wednesday, October 7th. Raymond James Financial dropped their price objective on shares of Intercontinental Exchange from $218.00 to $211.00 and set a “strong-buy” rating on the stock in a report on Monday, October 5th. Piper Sandler reaffirmed an “overweight” rating and set a $195.00 price objective (up from $190.00) on shares of Intercontinental Exchange in a research report on Friday, October 2nd. UBS Group reiterated a “buy” rating and issued a $195.00 target price (up from $190.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. Finally, TD Cowen lifted their target price on Intercontinental Exchange from $167.00 to $182.00 and gave the stock a “hold” rating in a research report on Friday, October 30th. One equities research 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’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $189.25.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, CFO Warren Gardiner sold 2,491 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $156.30, for a total transaction of $389,343.30. Following the completion of the transaction, the chief financial officer owned 22,698 shares in the company, valued at $3,547,697.40. This trade represents a 9.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Benjamin Jackson sold 12,862 shares of Intercontinental Exchange stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $160.09, for a total value of $2,059,077.58. Following the sale, the president directly owned 164,264 shares in the company, valued at $26,297,023.76. The trade was a 7.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 52,000 shares of company stock valued at $8,638,669. Corporate insiders own 0.84% of the company’s stock.

Intercontinental Exchange Profile

Intercontinental Exchange, Inc. (NYSE: ICE) operates exchanges, clearing houses and technology businesses serving financial and commodity markets. Its platforms support the trading and clearing of futures, options and other products across areas such as energy, agriculture, interest rates and equities. The company also provides market data, analytics and connectivity services to financial institutions and other market participants. Intercontinental Exchange owns the New York Stock Exchange and operates exchanges and clearing houses in multiple markets around the world.