Balentine LLC Boosts Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Balentine LLC increased its position in shares of Intercontinental Exchange, Inc. (NYSE:ICEFree Report) by 6.5% in the fourth quarter, HoldingsChannel reports. The firm owned 10,513 shares of the financial services provider’s stock after acquiring an additional 643 shares during the quarter. Balentine LLC’s holdings in Intercontinental Exchange were worth $1,350,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. UNIVEST FINANCIAL Corp raised its holdings in shares of Intercontinental Exchange by 4.2% during the fourth quarter. UNIVEST FINANCIAL Corp now owns 2,230 shares of the financial services provider’s stock worth $286,000 after purchasing an additional 90 shares during the last quarter. Vinva Investment Management Ltd grew its holdings in Intercontinental Exchange by 0.6% during the third quarter. Vinva Investment Management Ltd now owns 16,736 shares of the financial services provider’s stock worth $1,855,000 after acquiring an additional 93 shares during the period. Timber Creek Capital Management LLC raised its position in Intercontinental Exchange by 0.3% during the fourth quarter. Timber Creek Capital Management LLC now owns 34,466 shares of the financial services provider’s stock valued at $4,426,000 after acquiring an additional 94 shares in the last quarter. HBK Sorce Advisory LLC lifted its holdings in Intercontinental Exchange by 4.8% in the third quarter. HBK Sorce Advisory LLC now owns 2,116 shares of the financial services provider’s stock valued at $233,000 after acquiring an additional 97 shares during the period. Finally, West Coast Financial LLC boosted its position in Intercontinental Exchange by 4.6% in the 4th quarter. West Coast Financial LLC now owns 2,248 shares of the financial services provider’s stock worth $289,000 after purchasing an additional 98 shares in the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Insider Buying and Selling

In other news, General Counsel Andrew J. Surdykowski sold 341 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $131.74, for a total transaction of $44,923.34. Following the completion of the sale, the general counsel now owns 48,713 shares in the company, valued at approximately $6,417,450.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Jeffrey C. Sprecher sold 48,166 shares of Intercontinental Exchange stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $136.35, for a total value of $6,567,434.10. Following the transaction, the chief executive officer now directly owns 1,179,895 shares of the company’s stock, valued at approximately $160,878,683.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 341 shares of the company’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $131.74, for a total transaction of $44,923.34. Following the completion of the sale, the general counsel now owns 48,713 shares of the company’s stock, valued at approximately $6,417,450.62. The disclosure for this sale can be found here. Insiders sold a total of 113,405 shares of company stock worth $15,515,819 over the last 90 days. 1.10% of the stock is owned by insiders.

Intercontinental Exchange Stock Down 0.7 %

Shares of NYSE:ICE traded down $1.03 during trading hours on Monday, reaching $137.37. The stock had a trading volume of 570,424 shares, compared to its average volume of 2,348,541. Intercontinental Exchange, Inc. has a 1 year low of $103.81 and a 1 year high of $140.43. The firm’s 50 day moving average is $134.25 and its 200-day moving average is $127.96. The stock has a market capitalization of $78.79 billion, a price-to-earnings ratio of 31.54, a P/E/G ratio of 2.58 and a beta of 1.02. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.01 and a current ratio of 1.01.

Intercontinental Exchange (NYSE:ICEGet Free Report) last posted its earnings results on Thursday, May 2nd. The financial services provider reported $1.48 EPS for the quarter, meeting the consensus estimate of $1.48. The firm had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.31 billion. Intercontinental Exchange had a return on equity of 12.76% and a net margin of 24.24%. Intercontinental Exchange’s revenue for the quarter was up 20.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.41 earnings per share. Research analysts predict that Intercontinental Exchange, Inc. will post 5.95 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have commented on the company. JPMorgan Chase & Co. raised their price objective on Intercontinental Exchange from $147.00 to $151.00 and gave the company an “overweight” rating in a report on Friday, May 3rd. Piper Sandler raised their price target on shares of Intercontinental Exchange from $135.00 to $149.00 and gave the stock an “overweight” rating in a report on Monday, February 12th. Rosenblatt Securities reiterated a “buy” rating and set a $164.00 price target on shares of Intercontinental Exchange in a report on Friday, May 3rd. Bank of America dropped their price target on shares of Intercontinental Exchange from $156.00 to $153.00 and set a “buy” rating for the company in a research report on Friday, April 19th. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of Intercontinental Exchange from $156.00 to $155.00 and set an “outperform” rating for the company in a research report on Friday, May 3rd. Three investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Intercontinental Exchange presently has an average rating of “Moderate Buy” and a consensus target price of $147.92.

View Our Latest Analysis on ICE

About Intercontinental Exchange

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Intercontinental Exchange (NYSE:ICE)

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