Ramirez Asset Management Inc. Sells 200 Shares of Intercontinental Exchange Inc. $ICE

by · The Cerbat Gem

Ramirez Asset Management Inc. decreased its holdings in Intercontinental Exchange Inc. (NYSE:ICE – Free Report) by 3.3% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,917 shares of the financial services provider’s stock after selling 200 shares during the period. Ramirez Asset Management Inc.’s holdings in Intercontinental Exchange were worth $1,086,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Tritonpoint Wealth LLC raised its stake in Intercontinental Exchange by 1.4% in the 2nd quarter. Tritonpoint Wealth LLC now owns 4,347 shares of the financial services provider’s stock worth $798,000 after acquiring an additional 58 shares during the last quarter. RB Capital Management LLC raised its stake in shares of Intercontinental Exchange by 1.3% during the 2nd quarter. RB Capital Management LLC now owns 4,584 shares of the financial services provider’s stock valued at $841,000 after buying an additional 59 shares during the last quarter. Chemistry Wealth Management LLC raised its stake in shares of Intercontinental Exchange by 0.8% during the 2nd quarter. Chemistry Wealth Management LLC now owns 7,847 shares of the financial services provider’s stock valued at $1,440,000 after buying an additional 60 shares during the last quarter. Institute for Wealth Management LLC. raised its stake in shares of Intercontinental Exchange by 1.9% during the 2nd quarter. Institute for Wealth Management LLC. now owns 3,255 shares of the financial services provider’s stock valued at $597,000 after buying an additional 60 shares during the last quarter. Finally, Fielder Capital Group LLC raised its stake in shares of Intercontinental Exchange by 2.2% during the 1st quarter. Fielder Capital Group LLC now owns 2,808 shares of the financial services provider’s stock valued at $484,000 after buying an additional 61 shares during the last quarter. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Price Performance

NYSE:ICE opened at $159.11 on Friday. Intercontinental Exchange Inc. has a 52 week low of $142.29 and a 52 week high of $189.35. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $91.08 billion, a PE ratio of 30.54, a price-to-earnings-growth ratio of 1.94 and a beta of 1.08. The stock’s 50-day moving average price is $174.55 and its 200-day moving average price is $174.26.

Intercontinental Exchange (NYSE:ICE – Get Free Report) last posted its earnings results on Thursday, July 31st. The financial services provider reported $1.81 EPS for the quarter, beating analysts’ consensus estimates of $1.77 by $0.04. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.The firm had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $2.50 billion. During the same period last year, the firm earned $1.52 EPS. The company’s quarterly revenue was up 9.8% on a year-over-year basis. As a group, equities analysts expect that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Insider Buying and Selling

In related news, COO Stuart Glen Williams sold 939 shares of Intercontinental Exchange stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $172.04, for a total value of $161,545.56. Following the sale, the chief operating officer directly owned 16,624 shares in the company, valued at approximately $2,859,992.96. The trade was a 5.35% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Douglas Foley sold 1,600 shares of Intercontinental Exchange stock in a transaction dated 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 approximately $4,530,293.52. The trade was a 5.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 230,874 shares of company stock worth $42,187,714 in the last quarter. 1.00% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on ICE. JPMorgan Chase & Co. lifted their price objective on Intercontinental Exchange from $195.00 to $203.00 and gave the company an “overweight” rating in a research note on Thursday, September 25th. Piper Sandler lifted their price objective on Intercontinental Exchange from $180.00 to $202.00 and gave the company an “overweight” rating in a research note on Tuesday, July 15th. UBS Group lifted their price objective on Intercontinental Exchange from $195.00 to $210.00 and gave the company a “buy” rating in a research note on Tuesday, July 8th. Barclays reiterated an “overweight” rating and set a $201.00 price objective (down previously from $212.00) on shares of Intercontinental Exchange in a research note on Wednesday. Finally, Keefe, Bruyette & Woods upgraded Intercontinental Exchange to a “moderate buy” rating in a research note on Monday. Nine investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $197.10.

View Our Latest Stock Report on ICE

Intercontinental Exchange Company Profile

(Free Report)

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.

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