Mayflower Financial Advisors LLC Sells 237 Shares of Intercontinental Exchange Inc. $ICE

Mayflower Financial Advisors LLC trimmed its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 6.5% during the 2nd quarter, Holdings Channel reports. The firm owned 3,392 shares of the financial services provider’s stock after selling 237 shares during the period. Mayflower Financial Advisors LLC’s holdings in Intercontinental Exchange were worth $622,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Oarsman Capital Inc. raised its position in shares of Intercontinental Exchange by 13.8% during the 2nd quarter. Oarsman Capital Inc. now owns 2,073 shares of the financial services provider’s stock valued at $380,000 after purchasing an additional 251 shares during the period. Bank of Jackson Hole Trust grew its stake in Intercontinental Exchange by 5.0% during the second quarter. Bank of Jackson Hole Trust now owns 6,141 shares of the financial services provider’s stock valued at $1,127,000 after acquiring an additional 292 shares in the last quarter. Motco grew its stake in Intercontinental Exchange by 0.9% during the second quarter. Motco now owns 73,960 shares of the financial services provider’s stock valued at $13,670,000 after acquiring an additional 692 shares in the last quarter. Redmond Asset Management LLC grew its stake in Intercontinental Exchange by 59.0% during the second quarter. Redmond Asset Management LLC now owns 23,987 shares of the financial services provider’s stock valued at $4,401,000 after acquiring an additional 8,900 shares in the last quarter. Finally, New York Life Investment Management LLC grew its stake in Intercontinental Exchange by 1.1% during the second quarter. New York Life Investment Management LLC now owns 85,740 shares of the financial services provider’s stock valued at $15,731,000 after acquiring an additional 928 shares in the last quarter. 89.30% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Judith A. Sprieser sold 2,900 shares of Intercontinental Exchange stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $174.51, for a total transaction of $506,079.00. Following the completion of the transaction, the director directly owned 18,169 shares of the company’s stock, valued at approximately $3,170,672.19. The trade was a 13.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of Intercontinental Exchange stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $183.09, for a total transaction of $27,463,500.00. Following the transaction, the chief executive officer directly owned 1,951,705 shares of the company’s stock, valued at approximately $357,337,668.45. This represents a 7.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 240,162 shares of company stock worth $43,642,652 in the last 90 days. Company insiders own 1.00% of the company’s stock.

Intercontinental Exchange Stock Performance

Shares of NYSE:ICE opened at $150.26 on Thursday. Intercontinental Exchange Inc. has a 52 week low of $142.29 and a 52 week high of $189.35. The stock has a market capitalization of $86.01 billion, a P/E ratio of 28.84, a PEG ratio of 2.20 and a beta of 1.08. The firm has a fifty day simple moving average of $166.85 and a two-hundred day simple moving average of $173.67. 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 (NYSE:ICE) last issued its quarterly earnings data on Thursday, July 31st. The financial services provider reported $1.81 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 last year, the company posted $1.52 EPS. The business’s revenue was up 9.8% on a year-over-year basis. On average, analysts expect that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Piper Sandler raised their target price on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the company an “overweight” rating in a research note on Tuesday, July 15th. Morgan Stanley cut their target price on shares of Intercontinental Exchange from $188.00 to $178.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 21st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Intercontinental Exchange in a research note on Wednesday, October 8th. UBS Group raised their target price on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the company a “buy” rating in a research note on Tuesday, July 8th. Finally, Raymond James Financial raised shares of Intercontinental Exchange from an “outperform” rating to a “strong-buy” rating and set a $210.00 target price for the company in a research note on Monday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Intercontinental Exchange has an average rating of “Moderate Buy” and an average price target of $198.60.

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.