Coastline Trust Co lowered its holdings in Intercontinental Exchange Inc. (NYSE:ICE – Free Report) by 39.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,535 shares of the financial services provider’s stock after selling 6,087 shares during the period. Coastline Trust Co’s holdings in Intercontinental Exchange were worth $1,450,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Rakuten Securities Inc. purchased a new stake in Intercontinental Exchange in the 2nd quarter worth about $26,000. Brooklands Fund Management Ltd purchased a new position in Intercontinental Exchange during the 4th quarter valued at about $28,000. Gables Capital Management Inc. acquired a new position in shares of Intercontinental Exchange in the 2nd quarter valued at about $31,000. Fiduciary Financial Advisors acquired a new position in shares of Intercontinental Exchange in the 2nd quarter valued at about $33,000. Finally, Clearstead Trust LLC purchased a new stake in shares of Intercontinental Exchange in the second quarter worth approximately $37,000. Institutional investors and hedge funds own 89.30% of the company’s stock.
Analysts Set New Price Targets
A number of research analysts recently commented on ICE shares. Piper Sandler lowered their price objective on shares of Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 15th. Rothschild & Co Redburn set a $177.00 price objective on Intercontinental Exchange in a report on Thursday, June 11th. TD Cowen reaffirmed a “buy” rating and issued a $177.00 target price (up from $159.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $178.00 price target on shares of Intercontinental Exchange in a report on Friday, July 31st. Finally, UBS Group restated a “buy” rating and issued a $195.00 price objective (up from $190.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. One research 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 stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $184.17.
Insider Buying and Selling at Intercontinental Exchange
In related news, insider Christopher Edmonds sold 5,000 shares of Intercontinental Exchange stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $160.59, for a total transaction of $802,950.00. Following the sale, the insider directly owned 14,367 shares of the company’s stock, valued at $2,307,196.53. This trade represents a 25.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Benjamin Jackson sold 12,862 shares of the company’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $160.09, for a total value of $2,059,077.58. Following the completion of the transaction, the president directly owned 164,264 shares of the company’s stock, valued at approximately $26,297,023.76. This trade represents a 7.26% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 41,179 shares of company stock valued at $6,473,715 in the last three months. 0.84% of the stock is owned by insiders.
Intercontinental Exchange Stock Performance
ICE stock traded down $1.03 during mid-day trading on Thursday, reaching $151.00. 959,614 shares of the stock traded hands, compared to its average volume of 3,840,776. The firm has a market capitalization of $84.77 billion, a PE ratio of 21.36, a P/E/G ratio of 1.48 and a beta of 0.93. The business has a 50-day moving average of $155.40 and a two-hundred day moving average of $151.04. Intercontinental Exchange Inc. has a 52 week low of $121.79 and a 52 week high of $176.05. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63.
Intercontinental Exchange (NYSE:ICE – Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.06. The business had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $2.63 billion. Intercontinental Exchange had a return on equity of 14.95% and a net margin of 30.08%.The firm’s revenue was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.81 EPS. As a group, equities analysts predict that Intercontinental Exchange Inc. will post 8.1 EPS for the current fiscal year.
Intercontinental Exchange Profile
Intercontinental Exchange, Inc (NYSE:ICE) operates global exchanges, clearinghouses, data services and technology platforms. The company provides marketplaces and infrastructure that support the trading, clearing and management of risk across financial and commodity markets.
Its businesses include the New York Stock Exchange, ICE Futures exchanges and ICE Clear clearinghouses. ICE offers trading and clearing services for equities, equity options, interest rates, currencies, energy, agricultural commodities, metals and other contracts.
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