Vestmark Advisory Solutions Inc. Purchases 10,400 Shares of Intercontinental Exchange Inc. $ICE

Vestmark Advisory Solutions Inc. raised its position in Intercontinental Exchange Inc. (NYSE:ICE) by 80.6% during the second quarter, Holdings Channel reports. The firm owned 23,296 shares of the financial services provider’s stock after purchasing an additional 10,400 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in Intercontinental Exchange were worth $4,274,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Intercontinental Exchange by 1.4% during the first quarter. Vanguard Group Inc. now owns 52,940,356 shares of the financial services provider’s stock worth $9,132,211,000 after buying an additional 712,179 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Intercontinental Exchange by 491.3% during the first 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 acquiring an additional 5,345,388 shares during the last quarter. Amundi grew its holdings in Intercontinental Exchange by 14.7% during the 1st quarter. Amundi now owns 6,315,706 shares of the financial services provider’s stock worth $1,060,574,000 after acquiring an additional 810,938 shares during the period. Independent Franchise Partners LLP raised its position in shares of Intercontinental Exchange by 0.5% in the 1st quarter. Independent Franchise Partners LLP now owns 6,192,424 shares of the financial services provider’s stock worth $1,068,193,000 after acquiring an additional 31,588 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings in Intercontinental Exchange by 113.9% in the first quarter. Wellington Management Group LLP now owns 5,943,363 shares of the financial services provider’s stock worth $1,025,230,000 after purchasing an additional 3,165,381 shares in the last quarter. 89.30% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ICE has been the subject of several research analyst reports. Barclays set a $183.00 price target on shares of Intercontinental Exchange and gave the company an “overweight” rating in a research note on Friday, October 31st. TD Cowen cut their price target on shares of Intercontinental Exchange from $199.00 to $175.00 and set a “buy” rating on the stock in a report on Friday, October 31st. Weiss Ratings restated a “buy (b)” rating on shares of Intercontinental Exchange in a research note on Wednesday, October 8th. UBS Group decreased their price target on shares of Intercontinental Exchange from $215.00 to $200.00 and set a “buy” rating for the company in a research note on Friday, October 31st. Finally, Piper Sandler lifted their price objective on Intercontinental Exchange from $180.00 to $202.00 and gave the stock an “overweight” rating in a report on Tuesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Intercontinental Exchange currently has an average rating of “Moderate Buy” and an average target price of $191.82.

Intercontinental Exchange Price Performance

Shares of NYSE:ICE opened at $148.93 on Friday. The company has a 50 day moving average of $162.47 and a 200 day moving average of $173.11. 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 cap of $84.92 billion, a P/E ratio of 28.59, a P/E/G ratio of 2.11 and a beta of 1.06. Intercontinental Exchange Inc. has a 12 month low of $142.29 and a 12 month high of $189.35.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, October 30th. The financial services provider reported $1.71 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.71. The business had revenue of $2.41 billion for the quarter, compared to analysts’ expectations of $2.49 billion. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.55 EPS. As a group, sell-side analysts forecast that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Judith A. Sprieser sold 2,900 shares of Intercontinental Exchange stock in a transaction 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 completion of 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Stuart Glen Williams sold 939 shares of the business’s stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $172.04, for a total value of $161,545.56. Following the transaction, the chief operating officer owned 16,624 shares of the company’s stock, valued at approximately $2,859,992.96. The trade was a 5.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 240,162 shares of company stock valued at $43,642,652 in the last ninety days. 1.00% of the stock is owned by 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.