Petros Family Wealth LLC Reduces Stock Holdings in Intercontinental Exchange Inc. $ICE

Petros Family Wealth LLC trimmed its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 9.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,465 shares of the financial services provider’s stock after selling 564 shares during the quarter. Intercontinental Exchange accounts for about 0.9% of Petros Family Wealth LLC’s portfolio, making the stock its 28th largest position. Petros Family Wealth LLC’s holdings in Intercontinental Exchange were worth $1,003,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ICE. Vanguard Group Inc. grew its stake in Intercontinental Exchange by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 52,940,356 shares of the financial services provider’s stock valued at $9,132,211,000 after purchasing an additional 712,179 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in Intercontinental Exchange by 491.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,433,497 shares of the financial services provider’s stock valued at $1,109,780,000 after purchasing an additional 5,345,388 shares during the last quarter. Amundi grew its stake in Intercontinental Exchange by 14.7% during the 1st quarter. Amundi now owns 6,315,706 shares of the financial services provider’s stock valued at $1,060,574,000 after purchasing an additional 810,938 shares during the last quarter. Independent Franchise Partners LLP grew its stake in Intercontinental Exchange by 0.5% during the 1st quarter. Independent Franchise Partners LLP now owns 6,192,424 shares of the financial services provider’s stock valued at $1,068,193,000 after purchasing an additional 31,588 shares during the last quarter. Finally, Wellington Management Group LLP grew its stake in Intercontinental Exchange by 113.9% during the 1st quarter. Wellington Management Group LLP now owns 5,943,363 shares of the financial services provider’s stock valued at $1,025,230,000 after purchasing an additional 3,165,381 shares during the last quarter. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on ICE shares. Barclays boosted their price target on Intercontinental Exchange from $206.00 to $212.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. JPMorgan Chase & Co. boosted their price objective on Intercontinental Exchange from $195.00 to $203.00 and gave the company an “overweight” rating in a report on Thursday, September 25th. Piper Sandler boosted their price objective on Intercontinental Exchange from $180.00 to $202.00 and gave the company an “overweight” rating in a report on Tuesday, July 15th. Weiss Ratings reissued a “buy (b)” rating on shares of Intercontinental Exchange in a report on Saturday, September 27th. Finally, UBS Group boosted their price objective on Intercontinental Exchange from $195.00 to $210.00 and gave the company a “buy” rating in a report on Tuesday, July 8th. Nine investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Intercontinental Exchange presently has a consensus rating of “Moderate Buy” and a consensus target price of $198.20.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, COO Stuart Glen Williams sold 939 shares of the business’s stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $172.04, for a total transaction of $161,545.56. Following the completion of the sale, the chief operating officer directly owned 16,624 shares in the company, valued at approximately $2,859,992.96. The trade was a 5.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Judith A. Sprieser sold 2,900 shares of the business’s stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $174.51, for a total value of $506,079.00. Following the sale, the director owned 18,169 shares of the company’s stock, valued at approximately $3,170,672.19. This trade represents a 13.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 230,874 shares of company stock worth $42,187,714 in the last quarter. Corporate insiders own 1.00% of the company’s stock.

Intercontinental Exchange Stock Performance

NYSE ICE opened at $162.47 on Monday. Intercontinental Exchange Inc. has a twelve month low of $142.29 and a twelve month high of $189.35. The stock has a 50-day moving average of $176.53 and a 200 day moving average of $174.67. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $93.00 billion, a price-to-earnings ratio of 31.18, a PEG ratio of 1.98 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, July 31st. The financial services provider reported $1.81 EPS for the quarter, topping the consensus estimate of $1.77 by $0.04. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.The company had revenue of $3.26 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same period in the previous year, the business earned $1.52 EPS. Intercontinental Exchange’s quarterly revenue was up 9.8% on a year-over-year basis. Sell-side analysts anticipate that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

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.