Sendero Wealth Management LLC Acquires 4,180 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Sendero Wealth Management LLC increased its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 8.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,587 shares of the financial services provider’s stock after acquiring an additional 4,180 shares during the quarter. Intercontinental Exchange comprises about 1.2% of Sendero Wealth Management LLC’s investment portfolio, making the stock its 19th biggest holding. Sendero Wealth Management LLC’s holdings in Intercontinental Exchange were worth $7,090,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Scarborough Advisors LLC bought a new position in shares of Intercontinental Exchange in the 4th quarter worth about $25,000. Fortitude Family Office LLC bought a new stake in Intercontinental Exchange during the 4th quarter valued at about $28,000. Stuart Chaussee & Associates Inc. bought a new stake in Intercontinental Exchange during the 4th quarter valued at about $28,000. Altshuler Shaham Ltd bought a new stake in Intercontinental Exchange during the 4th quarter valued at about $29,000. Finally, Sachetta LLC bought a new stake in Intercontinental Exchange during the 4th quarter valued at about $29,000. 89.30% of the stock is currently owned by institutional investors.

Intercontinental Exchange Price Performance

Shares of Intercontinental Exchange stock traded down $0.58 on Friday, hitting $136.89. 4,040,390 shares of the company traded hands, compared to its average volume of 2,348,661. The stock has a market capitalization of $78.52 billion, a P/E ratio of 31.40, a price-to-earnings-growth ratio of 2.56 and a beta of 1.06. 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, Inc. has a 52 week low of $104.49 and a 52 week high of $140.43. The business has a 50-day simple moving average of $134.52 and a 200 day simple moving average of $132.72.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $1.48 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.48. The firm had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.31 billion. Intercontinental Exchange had a net margin of 24.24% and a return on equity of 12.76%. The company’s revenue for the quarter was up 20.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.41 earnings per share. Research analysts expect that Intercontinental Exchange, Inc. will post 5.96 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ICE. Bank of America dropped their price target on shares of Intercontinental Exchange from $156.00 to $153.00 and set a “buy” rating on the stock in a report on Friday, April 19th. Citigroup raised their price target on shares of Intercontinental Exchange from $155.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, April 4th. Argus reissued a “buy” rating and issued a $153.00 price objective on shares of Intercontinental Exchange in a report on Tuesday, May 21st. Keefe, Bruyette & Woods dropped their price objective on shares of Intercontinental Exchange from $156.00 to $155.00 and set an “outperform” rating on the stock in a report on Friday, May 3rd. Finally, Morgan Stanley raised their price objective on shares of Intercontinental Exchange from $139.00 to $142.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Intercontinental Exchange currently has an average rating of “Moderate Buy” and a consensus target price of $148.29.

Insider Activity

In related news, major shareholder Intercontinental Exchange, Inc acquired 350,880 shares of Intercontinental Exchange stock in a transaction dated Thursday, April 25th. The shares were purchased at an average price of $0.87 per share, for a total transaction of $305,265.60. Following the completion of the transaction, the insider now directly owns 649,934 shares in the company, valued at approximately $565,442.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, General Counsel Andrew J. Surdykowski sold 341 shares of the business’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $131.74, for a total value of $44,923.34. Following the sale, the general counsel now owns 48,713 shares in the company, valued at $6,417,450.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Intercontinental Exchange, Inc purchased 350,880 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, April 25th. The stock was acquired at an average price of $0.87 per share, for a total transaction of $305,265.60. Following the transaction, the insider now directly owns 649,934 shares of the company’s stock, valued at approximately $565,442.58. The disclosure for this purchase can be found here. Insiders have sold a total of 62,894 shares of company stock worth $8,620,792 over the last quarter. Insiders own 1.10% of the company’s stock.

Intercontinental Exchange Company 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.