Guinness Atkinson Asset Management Inc Cuts Stock Holdings in Intercontinental Exchange Inc. $ICE

Guinness Atkinson Asset Management Inc lessened its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 7.3% in the second quarter, according to its most recent filing with the SEC. The firm owned 39,309 shares of the financial services provider’s stock after selling 3,113 shares during the quarter. Intercontinental Exchange comprises approximately 3.8% of Guinness Atkinson Asset Management Inc’s holdings, making the stock its 10th largest position. Guinness Atkinson Asset Management Inc’s holdings in Intercontinental Exchange were worth $7,212,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of ICE. Princeton Global Asset Management LLC bought a new position in Intercontinental Exchange in the 2nd quarter valued at about $28,000. Tsfg LLC raised its position in shares of Intercontinental Exchange by 187.3% during the 1st quarter. Tsfg LLC now owns 158 shares of the financial services provider’s stock worth $27,000 after buying an additional 103 shares in the last quarter. Activest Wealth Management lifted its stake in shares of Intercontinental Exchange by 4,050.0% in the 1st quarter. Activest Wealth Management now owns 166 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 162 shares during the period. Hilltop National Bank bought a new position in shares of Intercontinental Exchange in the second quarter valued at approximately $31,000. Finally, McClarren Financial Advisors Inc. bought a new position in shares of Intercontinental Exchange in the first quarter valued at approximately $30,000. Institutional investors own 89.30% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Morgan Stanley dropped their target price on Intercontinental Exchange from $188.00 to $178.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 21st. Keefe, Bruyette & Woods raised Intercontinental Exchange to a “moderate buy” rating in a research note on Monday, October 6th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Intercontinental Exchange in a research note on Saturday. Piper Sandler lifted their target price on Intercontinental Exchange from $180.00 to $202.00 and gave the stock an “overweight” rating in a report on Tuesday, July 15th. Finally, JPMorgan Chase & Co. upped their price target on shares of Intercontinental Exchange from $195.00 to $203.00 and gave the company an “overweight” rating in a report on Thursday, September 25th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $198.60.

Insiders Place Their Bets

In related news, COO Stuart Glen Williams sold 939 shares of the firm’s stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $172.04, for a total value of $161,545.56. Following the completion of the transaction, the chief operating officer owned 16,624 shares of the company’s stock, valued at approximately $2,859,992.96. This trade represents a 5.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Judith A. Sprieser sold 2,900 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $174.51, for a total transaction of $506,079.00. Following the transaction, the director owned 18,169 shares in the company, valued at approximately $3,170,672.19. The trade was a 13.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 240,162 shares of company stock worth $43,642,652 in the last quarter. Corporate insiders own 1.00% of the company’s stock.

Intercontinental Exchange Trading Up 0.2%

Shares of NYSE ICE opened at $157.71 on Monday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.61. Intercontinental Exchange Inc. has a 12 month low of $142.29 and a 12 month high of $189.35. The company has a market cap of $90.28 billion, a price-to-earnings ratio of 30.27, a P/E/G ratio of 2.20 and a beta of 1.08. The business has a fifty day simple moving average of $168.26 and a 200-day simple moving average of $173.68.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data 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. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.The firm had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter in the previous year, the company earned $1.52 EPS. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. Sell-side analysts predict that Intercontinental Exchange Inc. will post 6.73 EPS for the current 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.