Insight Wealth Strategies LLC Sells 1,355 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Insight Wealth Strategies LLC cut its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 8.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,530 shares of the financial services provider’s stock after selling 1,355 shares during the period. Insight Wealth Strategies LLC’s holdings in Intercontinental Exchange were worth $2,165,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of ICE. M&T Bank Corp raised its stake in Intercontinental Exchange by 33.2% during the third quarter. M&T Bank Corp now owns 46,689 shares of the financial services provider’s stock worth $7,500,000 after acquiring an additional 11,648 shares in the last quarter. Toronto Dominion Bank increased its position in shares of Intercontinental Exchange by 1.6% during the 3rd quarter. Toronto Dominion Bank now owns 310,560 shares of the financial services provider’s stock worth $49,888,000 after purchasing an additional 4,973 shares in the last quarter. GDS Wealth Management lifted its holdings in Intercontinental Exchange by 5.3% during the 3rd quarter. GDS Wealth Management now owns 103,412 shares of the financial services provider’s stock valued at $16,612,000 after purchasing an additional 5,226 shares during the last quarter. Oddo BHF Asset Management Sas acquired a new position in Intercontinental Exchange in the third quarter valued at about $14,880,000. Finally, Nomura Asset Management Co. Ltd. grew its stake in Intercontinental Exchange by 6.5% during the third quarter. Nomura Asset Management Co. Ltd. now owns 169,270 shares of the financial services provider’s stock worth $27,192,000 after buying an additional 10,399 shares during the last quarter. Institutional investors own 89.30% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. StockNews.com raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Thursday, December 5th. Bank of America increased their target price on Intercontinental Exchange from $168.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Raymond James cut Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 price target for the company. in a report on Monday, October 14th. Piper Sandler increased their price objective on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Finally, Morgan Stanley boosted their target price on shares of Intercontinental Exchange from $160.00 to $174.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $175.07.

Intercontinental Exchange Trading Down 1.9 %

Shares of ICE traded down $2.85 during trading hours on Monday, reaching $146.99. The stock had a trading volume of 1,536,726 shares, compared to its average volume of 1,527,007. The company has a market cap of $84.40 billion, a P/E ratio of 34.83, a P/E/G ratio of 2.57 and a beta of 1.10. Intercontinental Exchange, Inc. has a 52 week low of $124.34 and a 52 week high of $167.99. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.68. The firm has a 50-day moving average of $155.74 and a 200 day moving average of $155.15.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, October 31st. The financial services provider reported $1.55 EPS for the quarter, hitting analysts’ consensus estimates of $1.55. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The company had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same quarter last year, the firm posted $1.46 earnings per share. Intercontinental Exchange’s revenue was up 17.3% compared to the same quarter last year. On average, sell-side analysts expect that Intercontinental Exchange, Inc. will post 6.07 earnings per share for the current fiscal year.

Insider Activity

In other news, COO Stuart Glen Williams sold 750 shares of the company’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $152.99, for a total transaction of $114,742.50. Following the completion of the transaction, the chief operating officer now directly owns 12,780 shares of the company’s stock, valued at $1,955,212.20. This represents a 5.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 955 shares of Intercontinental Exchange stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $156.08, for a total value of $149,056.40. Following the completion of the sale, the general counsel now directly owns 44,702 shares in the company, valued at approximately $6,977,088.16. This represents a 2.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,533 shares of company stock worth $1,196,279 over the last quarter. 1.10% of the stock is currently owned by company insiders.

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.