SVB Wealth LLC Sells 4,225 Shares of Intercontinental Exchange Inc. $ICE

SVB Wealth LLC lowered its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 10.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 35,888 shares of the financial services provider’s stock after selling 4,225 shares during the period. SVB Wealth LLC’s holdings in Intercontinental Exchange were worth $5,813,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in ICE. Wellington Management Group LLP increased its holdings in Intercontinental Exchange by 64.7% during the third quarter. Wellington Management Group LLP now owns 10,354,224 shares of the financial services provider’s stock worth $1,744,480,000 after buying an additional 4,067,922 shares during the last quarter. Mawer Investment Management Ltd. lifted its stake in Intercontinental Exchange by 179.1% in the third quarter. Mawer Investment Management Ltd. now owns 2,472,366 shares of the financial services provider’s stock valued at $416,544,000 after acquiring an additional 1,586,620 shares during the last quarter. Waverton Investment Management Ltd grew its position in shares of Intercontinental Exchange by 28,886.8% in the 3rd quarter. Waverton Investment Management Ltd now owns 1,526,734 shares of the financial services provider’s stock valued at $257,163,000 after acquiring an additional 1,521,467 shares during the period. Swedbank AB increased its stake in shares of Intercontinental Exchange by 43.3% during the 4th quarter. Swedbank AB now owns 3,527,115 shares of the financial services provider’s stock worth $571,252,000 after purchasing an additional 1,064,967 shares during the last quarter. Finally, Capital World Investors increased its stake in shares of Intercontinental Exchange by 15.2% during the 3rd quarter. Capital World Investors now owns 7,028,964 shares of the financial services provider’s stock worth $1,184,238,000 after purchasing an additional 928,047 shares during the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Intercontinental Exchange Stock Down 0.0%

ICE stock opened at $155.76 on Monday. Intercontinental Exchange Inc. has a fifty-two week low of $143.17 and a fifty-two week high of $189.35. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market capitalization of $88.09 billion, a price-to-earnings ratio of 22.67, a PEG ratio of 1.44 and a beta of 0.96. The business’s fifty day moving average price is $160.25 and its two-hundred day moving average price is $160.01.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, April 30th. The financial services provider reported $2.35 EPS for the quarter, beating the consensus estimate of $2.23 by $0.12. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The business had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $2.88 billion. During the same period in the prior year, the company posted $1.72 earnings per share. Intercontinental Exchange’s revenue was up 20.4% compared to the same quarter last year. On average, equities analysts anticipate that Intercontinental Exchange Inc. will post 8.16 earnings per share for the current year.

Insider Activity

In related news, insider Christopher Scott Edmonds sold 11,303 shares of the business’s stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $153.82, for a total value of $1,738,627.46. Following the completion of the sale, the insider directly owned 14,266 shares in the company, valued at approximately $2,194,396.12. The trade was a 44.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Lynn C. Martin sold 13,456 shares of the stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $153.86, for a total value of $2,070,340.16. Following the sale, the insider directly owned 54,319 shares in the company, valued at $8,357,521.34. This represents a 19.85% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 343,696 shares of company stock worth $53,397,715. Insiders own 0.84% of the company’s stock.

Analyst Ratings Changes

ICE has been the subject of several recent analyst reports. Wall Street Zen upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. Keefe, Bruyette & Woods started coverage on Intercontinental Exchange in a research note on Wednesday, April 8th. They issued an “outperform” rating and a $190.00 price objective on the stock. Deutsche Bank Aktiengesellschaft upgraded Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 target price for the company in a research note on Friday, March 6th. Piper Sandler reissued an “overweight” rating and set a $211.00 target price (up from $195.00) on shares of Intercontinental Exchange in a report on Wednesday, April 15th. Finally, UBS Group restated a “buy” rating and issued a $200.00 price target on shares of Intercontinental Exchange in a research note on Monday, February 9th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $194.10.

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.