Mawer Investment Management Ltd. decreased its holdings in Intercontinental Exchange Inc. (NYSE:ICE – Free Report) by 1.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,430,848 shares of the financial services provider’s stock after selling 41,518 shares during the quarter. Intercontinental Exchange makes up 2.2% of Mawer Investment Management Ltd.’s investment portfolio, making the stock its 17th biggest holding. Mawer Investment Management Ltd. owned approximately 0.43% of Intercontinental Exchange worth $393,700,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of the business. PNC Financial Services Group Inc. boosted its position in Intercontinental Exchange by 5.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 191,658 shares of the financial services provider’s stock valued at $31,041,000 after acquiring an additional 10,742 shares during the last quarter. Rockland Trust Co. boosted its position in Intercontinental Exchange by 19.7% during the third quarter. Rockland Trust Co. now owns 127,652 shares of the financial services provider’s stock valued at $21,507,000 after acquiring an additional 20,981 shares during the last quarter. M&G PLC boosted its position in Intercontinental Exchange by 18.4% during the third quarter. M&G PLC now owns 107,070 shares of the financial services provider’s stock valued at $17,988,000 after acquiring an additional 16,635 shares during the last quarter. Caprock Group LLC bought a new stake in Intercontinental Exchange during the third quarter valued at $2,788,000. Finally, Dover Advisors LLC bought a new stake in Intercontinental Exchange during the third quarter valued at $710,000. Institutional investors own 89.30% of the company’s stock.
Intercontinental Exchange Trading Down 1.8%
ICE opened at $145.23 on Tuesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01. Intercontinental Exchange Inc. has a fifty-two week low of $143.01 and a fifty-two week high of $189.35. The firm has a market capitalization of $82.13 billion, a PE ratio of 21.14, a P/E/G ratio of 1.38 and a beta of 0.92. The company’s 50-day moving average is $157.12 and its 200 day moving average is $160.10.
Wall Street Analysts Forecast Growth
A number of brokerages have commented on ICE. Weiss Ratings cut shares of Intercontinental Exchange from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, April 24th. Barclays reiterated an “overweight” rating and set a $201.00 price objective (up from $198.00) on shares of Intercontinental Exchange in a report on Friday, May 1st. Wall Street Zen upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. UBS Group reiterated a “buy” rating and set a $205.00 price objective on shares of Intercontinental Exchange in a report on Wednesday, May 20th. Finally, Piper Sandler reiterated an “overweight” rating and set a $211.00 price objective (up from $195.00) on shares of Intercontinental Exchange in a report on Wednesday, April 15th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Intercontinental Exchange currently has a consensus rating of “Buy” and an average price target of $194.60.
Insider Buying and Selling at Intercontinental Exchange
In related news, Director Sharon Bowen sold 667 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $151.28, for a total value of $100,903.76. Following the sale, the director owned 15,077 shares in the company, valued at $2,280,848.56. This represents a 4.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Andrew J. Surdykowski sold 4,573 shares of the company’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $151.56, for a total transaction of $693,083.88. Following the completion of the sale, the general counsel owned 45,473 shares in the company, valued at $6,891,887.88. This represents a 9.14% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 12,001 shares of company stock worth $1,847,820. 0.84% of the stock is currently owned by insiders.
Intercontinental Exchange Company Profile
Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.
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