Prime Capital Investment Advisors LLC Sells 939 Shares of Intercontinental Exchange Inc. $ICE

Prime Capital Investment Advisors LLC cut its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 23.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,989 shares of the financial services provider’s stock after selling 939 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Intercontinental Exchange were worth $548,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Advisors Capital Management LLC grew 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 acquiring an additional 396 shares in the last quarter. Capital Investment Advisory Services LLC bought a new position in shares of Intercontinental Exchange in the first quarter valued at approximately $349,000. Sequoia Financial Advisors LLC grew its holdings in shares of Intercontinental Exchange by 18.3% in 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 acquiring an additional 1,879 shares in the last quarter. Ritholtz Wealth Management grew its holdings in shares of Intercontinental Exchange by 52.3% in the first quarter. Ritholtz Wealth Management now owns 7,953 shares of the financial services provider’s stock valued at $1,372,000 after acquiring an additional 2,732 shares in the last quarter. Finally, First American Bank grew its holdings in 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 purchasing an additional 1,580 shares during the period. 89.30% of the stock is owned by institutional investors.

Intercontinental Exchange Trading Down 1.1%

NYSE:ICE opened at $157.51 on Friday. The company has a market cap of $90.16 billion, a P/E ratio of 30.23, a P/E/G ratio of 1.94 and a beta of 1.08. The stock’s fifty day moving average price is $174.01 and its two-hundred day moving average price is $174.13. 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 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 for the quarter, compared to the consensus estimate of $2.50 billion. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.The business’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.52 earnings per share. As a group, analysts expect that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Insider Activity

In related news, CTO Mayur Kapani sold 10,082 shares of the stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $158.88, for a total value of $1,601,828.16. Following the sale, the chief technology officer owned 65,240 shares in the company, valued at approximately $10,365,331.20. This trade represents a 13.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Douglas Foley sold 1,600 shares of the stock in a transaction on Friday, September 12th. The stock was sold at an average price of $175.62, for a total value of $280,992.00. Following the completion of the sale, the senior vice president owned 25,796 shares in the company, valued at $4,530,293.52. This trade represents a 5.84% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 240,956 shares of company stock valued at $43,789,542. 1.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on ICE shares. Piper Sandler increased their price objective on Intercontinental Exchange from $180.00 to $202.00 and gave the company an “overweight” rating in a report on Tuesday, July 15th. Keefe, Bruyette & Woods raised Intercontinental Exchange to a “moderate buy” rating in a report on Monday, October 6th. Weiss Ratings reissued a “buy (b)” rating on shares of Intercontinental Exchange in a report on Wednesday. JPMorgan Chase & Co. increased their price objective on Intercontinental Exchange from $195.00 to $203.00 and gave the company an “overweight” rating in a report on Thursday, September 25th. Finally, Morgan Stanley reduced their price objective on Intercontinental Exchange from $192.00 to $188.00 and set an “equal weight” rating for the company in a report on Wednesday, October 1st. Nine investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Intercontinental Exchange has an average rating of “Moderate Buy” and a consensus price target of $197.10.

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.