Securian Asset Management Inc. Sells 465 Shares of Intercontinental Exchange Inc. $ICE

Securian Asset Management Inc. lowered its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 1.5% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 29,973 shares of the financial services provider’s stock after selling 465 shares during the period. Securian Asset Management Inc.’s holdings in Intercontinental Exchange were worth $5,499,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in ICE. Brighton Jones LLC raised its position in shares of Intercontinental Exchange by 51.3% in the 4th quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider’s stock valued at $514,000 after buying an additional 1,169 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Intercontinental Exchange by 42.0% in the 1st quarter. GAMMA Investing LLC now owns 13,129 shares of the financial services provider’s stock valued at $2,265,000 after buying an additional 3,883 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Intercontinental Exchange by 12.0% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 35,169 shares of the financial services provider’s stock valued at $6,067,000 after buying an additional 3,760 shares in the last quarter. Exchange Traded Concepts LLC raised its position in shares of Intercontinental Exchange by 66.9% in the 1st quarter. Exchange Traded Concepts LLC now owns 584 shares of the financial services provider’s stock valued at $101,000 after buying an additional 234 shares in the last quarter. Finally, ORG Partners LLC raised its position in shares of Intercontinental Exchange by 39.0% in the 1st quarter. ORG Partners LLC now owns 278 shares of the financial services provider’s stock valued at $48,000 after buying an additional 78 shares in the last quarter. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Intercontinental Exchange Price Performance

ICE stock opened at $155.36 on Tuesday. The company has a 50 day simple moving average of $170.25 and a 200 day simple moving average of $173.57. The stock has a market cap of $88.93 billion, a price-to-earnings ratio of 29.82, a P/E/G ratio of 2.14 and a beta of 1.08. Intercontinental Exchange Inc. has a 1 year low of $142.29 and a 1 year high of $189.35. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01.

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

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, CEO Jeffrey C. Sprecher sold 150,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $183.09, for a total value of $27,463,500.00. Following the completion of the transaction, the chief executive officer directly owned 1,951,705 shares in the company, valued at approximately $357,337,668.45. This represents a 7.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Mayur Kapani sold 10,082 shares of the company’s stock in a transaction on Wednesday, October 8th. The shares were sold at an average price of $158.88, for a total transaction of $1,601,828.16. Following the completion of the sale, the chief technology officer directly owned 65,240 shares in the company, valued at approximately $10,365,331.20. This represents a 13.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 240,956 shares of company stock worth $43,789,542. 1.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

ICE has been the subject of several analyst reports. JPMorgan Chase & Co. boosted their target price on shares of Intercontinental Exchange from $195.00 to $203.00 and gave the company an “overweight” rating in a research report on Thursday, September 25th. Morgan Stanley dropped their target price on shares of Intercontinental Exchange from $192.00 to $188.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 1st. Piper Sandler boosted their target price on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the company an “overweight” rating in a research report on Tuesday, July 15th. Weiss Ratings reiterated a “buy (b)” rating on shares of Intercontinental Exchange in a research report on Wednesday, October 8th. Finally, Barclays reiterated an “overweight” rating and set a $201.00 price objective (down from $212.00) on shares of Intercontinental Exchange in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $199.60.

Intercontinental Exchange 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.