D.B. Root & Company LLC Sells 92 Shares of Intercontinental Exchange Inc. $ICE

D.B. Root & Company LLC cut its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 7.3% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 1,162 shares of the financial services provider’s stock after selling 92 shares during the quarter. D.B. Root & Company LLC’s holdings in Intercontinental Exchange were worth $213,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Piper Sandler upped their price target on Intercontinental Exchange from $180.00 to $202.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 15th. 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. JPMorgan Chase & Co. increased their target price on Intercontinental Exchange from $195.00 to $203.00 and gave the stock an “overweight” rating in a report on Thursday, September 25th. Morgan Stanley decreased their price target on shares of Intercontinental Exchange from $192.00 to $188.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 1st. Finally, Barclays upped their price objective 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 research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Intercontinental Exchange presently has an average rating of “Moderate Buy” and a consensus price target of $198.20.

Insiders Place Their Bets

In related news, General Counsel Andrew J. Surdykowski sold 3,850 shares of the stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $178.33, for a total transaction of $686,570.50. Following the completion of the sale, the general counsel directly owned 46,293 shares of the company’s stock, valued at approximately $8,255,430.69. This trade represents a 7.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Duriya M. Farooqui sold 2,036 shares of Intercontinental Exchange stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $178.34, for a total value of $363,100.24. Following the sale, the director owned 14,299 shares in the company, valued at $2,550,083.66. This trade represents a 12.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 230,874 shares of company stock worth $42,187,714 in the last ninety days. 1.00% of the stock is owned by corporate insiders.

Intercontinental Exchange Trading Down 2.3%

NYSE ICE opened at $158.96 on Tuesday. 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 business has a fifty day simple moving average of $176.06 and a 200 day simple moving average of $174.56. Intercontinental Exchange Inc. has a 12 month low of $142.29 and a 12 month high of $189.35. The firm has a market capitalization of $90.99 billion, a P/E ratio of 30.51, a PEG ratio of 1.98 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, July 31st. The financial services provider reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.04. The firm had revenue of $3.26 billion during the quarter, compared to analyst estimates of $2.50 billion. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The business’s revenue was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.52 EPS. On average, analysts predict that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

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.