Sendero Wealth Management LLC Has $7.34 Million Stock Holdings in Intercontinental Exchange Inc. $ICE

Sendero Wealth Management LLC trimmed its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 1.3% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 40,031 shares of the financial services provider’s stock after selling 531 shares during the quarter. Intercontinental Exchange comprises 0.9% of Sendero Wealth Management LLC’s portfolio, making the stock its 24th biggest holding. Sendero Wealth Management LLC’s holdings in Intercontinental Exchange were worth $7,344,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Advisors Capital Management LLC increased its holdings in shares of Intercontinental Exchange by 25.0% in the first quarter. Advisors Capital Management LLC now owns 1,978 shares of the financial services provider’s stock valued at $341,000 after purchasing an additional 396 shares in the last quarter. Capital Investment Advisory Services LLC bought a new position in Intercontinental Exchange in the 1st quarter valued at $349,000. Sequoia Financial Advisors LLC increased its stake in shares of Intercontinental Exchange by 18.3% in the 1st quarter. Sequoia Financial Advisors LLC now owns 12,168 shares of the financial services provider’s stock valued at $2,099,000 after buying an additional 1,879 shares during the period. Ritholtz Wealth Management raised its position in shares of Intercontinental Exchange by 52.3% during the first quarter. Ritholtz Wealth Management now owns 7,953 shares of the financial services provider’s stock worth $1,372,000 after acquiring an additional 2,732 shares during the last quarter. Finally, First American Bank lifted its stake in shares of Intercontinental Exchange by 2.1% during the first quarter. First American Bank now owns 76,332 shares of the financial services provider’s stock valued at $13,167,000 after acquiring an additional 1,580 shares during the period. Institutional investors own 89.30% of the company’s stock.

Analysts Set New Price Targets

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

Intercontinental Exchange Stock Up 0.9%

Shares of NYSE:ICE opened at $162.47 on Monday. The company has a 50 day moving average price of $176.53 and a two-hundred day moving average price of $174.67. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market capitalization of $93.00 billion, a PE ratio of 31.18, a PEG ratio of 1.98 and a beta of 1.08. Intercontinental Exchange Inc. has a 52 week low of $142.29 and a 52 week high of $189.35.

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

Insider Buying and Selling

In other news, COO Stuart Glen Williams sold 939 shares of the firm’s stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $172.04, for a total transaction of $161,545.56. Following the sale, the chief operating officer owned 16,624 shares of the company’s stock, valued at $2,859,992.96. This trade represents a 5.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available 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 shares were sold at an average price of $174.51, for a total value of $506,079.00. Following the completion of the transaction, the director owned 18,169 shares of the company’s stock, valued at $3,170,672.19. This represents a 13.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 230,874 shares of company stock valued at $42,187,714. 1.00% of the stock is owned by company insiders.

About Intercontinental Exchange

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.