SVB Wealth LLC decreased its holdings in Intercontinental Exchange Inc. (NYSE:ICE – Free Report) by 11.1% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 25,772 shares of the financial services provider’s stock after selling 3,233 shares during the quarter. SVB Wealth LLC’s holdings in Intercontinental Exchange were worth $3,173,000 as of its most recent filing with the SEC.
Other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC boosted its stake in shares of Intercontinental Exchange by 51.3% during the 4th quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider’s stock worth $514,000 after acquiring an additional 1,169 shares in the last quarter. Empowered Funds LLC grew its holdings in shares of Intercontinental Exchange by 9.0% in the 1st quarter. Empowered Funds LLC now owns 14,396 shares of the financial services provider’s stock worth $2,483,000 after acquiring an additional 1,189 shares during the period. Sivia Capital Partners LLC increased its stake in Intercontinental Exchange by 16.2% in the 2nd quarter. Sivia Capital Partners LLC now owns 2,078 shares of the financial services provider’s stock valued at $381,000 after purchasing an additional 289 shares in the last quarter. NewEdge Advisors LLC increased its stake in Intercontinental Exchange by 27.9% in the 2nd quarter. NewEdge Advisors LLC now owns 21,213 shares of the financial services provider’s stock valued at $3,892,000 after purchasing an additional 4,628 shares in the last quarter. Finally, Treasurer of the State of North Carolina raised its holdings in Intercontinental Exchange by 2.4% during the second quarter. Treasurer of the State of North Carolina now owns 266,496 shares of the financial services provider’s stock worth $48,894,000 after purchasing an additional 6,373 shares during the last quarter. 89.30% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity
In other Intercontinental Exchange news, SVP Douglas Foley sold 1,600 shares of the business’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $160.00, for a total value of $256,000.00. Following the completion of the transaction, the senior vice president directly owned 17,463 shares in the company, valued at approximately $2,794,080. The trade was a 8.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Martha Tirinnanzi sold 1,340 shares of the company’s stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $161.16, for a total value of $215,954.40. Following the completion of the transaction, the director owned 3,747 shares of the company’s stock, valued at $603,866.52. The trade was a 26.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 40,912 shares of company stock worth $6,403,616 in the last quarter. Corporate insiders own 0.84% of the company’s stock.
Intercontinental Exchange Price Performance
Intercontinental Exchange (NYSE:ICE – Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.84 by $0.06. Intercontinental Exchange had a return on equity of 14.95% and a net margin of 30.08%.The company had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $2.63 billion. During the same period in the previous year, the firm posted $1.81 earnings per share. The business’s revenue for the quarter was up 4.8% compared to the same quarter last year. On average, analysts forecast that Intercontinental Exchange Inc. will post 8.1 EPS for the current fiscal year.
Wall Street Analyst Weigh In
A number of analysts have commented on the company. Wall Street Zen downgraded Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Saturday. Raymond James Financial restated a “strong-buy” rating and issued a $218.00 price target on shares of Intercontinental Exchange in a research report on Tuesday, September 1st. Piper Sandler cut their price target on Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating for the company in a research note on Wednesday, July 15th. TD Cowen reiterated a “buy” rating and issued a $177.00 price objective (up from $159.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $178.00 price objective on shares of Intercontinental Exchange in a research note on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $184.17.
View Our Latest Analysis on Intercontinental Exchange
About Intercontinental Exchange
Intercontinental Exchange, Inc (NYSE: ICE) operates global exchanges, clearinghouses, data services and technology platforms. The company provides marketplaces for trading and clearing a range of financial and commodity products, including energy, agricultural commodities, interest rates, credit and equities.
ICE owns and operates the New York Stock Exchange and related equity markets, as well as futures and options exchanges in North America and Europe. Its businesses also include ICE Data Services, which provides market data, analytics, connectivity and other information services to financial institutions and corporations.
Through ICE Mortgage Technology, the company offers software and digital platforms designed to support residential mortgage origination, processing, servicing and related workflows.
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