Cornerstone Advisors LLC Has $4.06 Million Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Cornerstone Advisors LLC trimmed its position in shares of Intercontinental Exchange, Inc. (NYSE:ICEFree Report) by 2.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,600 shares of the financial services provider’s stock after selling 900 shares during the period. Cornerstone Advisors LLC’s holdings in Intercontinental Exchange were worth $4,058,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Fortitude Family Office LLC bought a new position in Intercontinental Exchange in the 4th quarter valued at approximately $28,000. Stuart Chaussee & Associates Inc. acquired a new stake in shares of Intercontinental Exchange during the 4th quarter worth approximately $28,000. Altshuler Shaham Ltd acquired a new stake in shares of Intercontinental Exchange during the 4th quarter worth approximately $29,000. Jones Financial Companies Lllp acquired a new stake in shares of Intercontinental Exchange during the 3rd quarter worth approximately $26,000. Finally, BKM Wealth Management LLC acquired a new stake in shares of Intercontinental Exchange during the 4th quarter worth approximately $31,000. Institutional investors own 89.30% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on ICE. Barclays reduced their price target on shares of Intercontinental Exchange from $155.00 to $150.00 and set an “overweight” rating for the company in a research report on Friday, May 3rd. Citigroup raised their price objective on Intercontinental Exchange from $155.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. Piper Sandler raised their price objective on Intercontinental Exchange from $135.00 to $149.00 and gave the company an “overweight” rating in a research note on Monday, February 12th. Keefe, Bruyette & Woods dropped their price objective on Intercontinental Exchange from $156.00 to $155.00 and set an “outperform” rating on the stock in a research note on Friday, May 3rd. Finally, Bank of America dropped their price objective on Intercontinental Exchange from $156.00 to $153.00 and set a “buy” rating on the stock in a research note on Friday, April 19th. Three investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Intercontinental Exchange has a consensus rating of “Moderate Buy” and a consensus price target of $147.92.

Get Our Latest Stock Report on Intercontinental Exchange

Intercontinental Exchange Stock Performance

ICE stock traded down $0.93 during trading on Monday, reaching $137.47. The stock had a trading volume of 439,096 shares, compared to its average volume of 2,346,957. Intercontinental Exchange, Inc. has a 52 week low of $103.81 and a 52 week high of $140.43. The stock’s 50 day moving average is $134.25 and its two-hundred day moving average is $127.96. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.76. The firm has a market cap of $78.85 billion, a PE ratio of 31.57, a PEG ratio of 2.58 and a beta of 1.02.

Intercontinental Exchange (NYSE:ICEGet Free Report) last posted its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $1.48 EPS for the quarter, hitting the consensus estimate of $1.48. Intercontinental Exchange had a return on equity of 12.76% and a net margin of 24.24%. The firm had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter last year, the company earned $1.41 earnings per share. The business’s revenue for the quarter was up 20.8% compared to the same quarter last year. As a group, equities analysts anticipate that Intercontinental Exchange, Inc. will post 5.95 earnings per share for the current year.

Insider Activity at Intercontinental Exchange

In related news, insider Lynn C. Martin sold 3,772 shares of Intercontinental Exchange stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $136.59, for a total transaction of $515,217.48. Following the sale, the insider now owns 58,999 shares of the company’s stock, valued at approximately $8,058,673.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Intercontinental Exchange news, insider Lynn C. Martin sold 3,772 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $136.59, for a total transaction of $515,217.48. Following the completion of the transaction, the insider now owns 58,999 shares in the company, valued at approximately $8,058,673.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jeffrey C. Sprecher sold 48,166 shares of the firm’s stock in a transaction that occurred 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 owns 1,179,895 shares of the company’s stock, valued at approximately $160,878,683.25. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 113,405 shares of company stock valued at $15,515,819. 1.10% of the stock is owned by company insiders.

Intercontinental Exchange Profile

(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.

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

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