TD Asset Management Inc Sells 13,998 Shares of Intercontinental Exchange Inc. $ICE

TD Asset Management Inc cut its position in Intercontinental Exchange Inc. (NYSE:ICE) by 6.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 217,546 shares of the financial services provider’s stock after selling 13,998 shares during the period. TD Asset Management Inc’s holdings in Intercontinental Exchange were worth $35,234,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. ICONIQ Capital LLC raised its holdings in Intercontinental Exchange by 2.2% in the second quarter. ICONIQ Capital LLC now owns 2,621 shares of the financial services provider’s stock worth $481,000 after purchasing an additional 56 shares in the last quarter. Mechanics Financial Corp grew its stake in shares of Intercontinental Exchange by 1.0% during the fourth quarter. Mechanics Financial Corp now owns 6,138 shares of the financial services provider’s stock worth $994,000 after acquiring an additional 60 shares during the last quarter. Mission Wealth Management LP grew its stake in shares of Intercontinental Exchange by 2.4% during the fourth quarter. Mission Wealth Management LP now owns 2,611 shares of the financial services provider’s stock worth $423,000 after acquiring an additional 62 shares during the last quarter. Aaron Wealth Advisors LLC grew its stake in shares of Intercontinental Exchange by 1.9% during the fourth quarter. Aaron Wealth Advisors LLC now owns 3,384 shares of the financial services provider’s stock worth $548,000 after acquiring an additional 63 shares during the last quarter. Finally, Evergreen Capital Management LLC grew its stake in shares of Intercontinental Exchange by 1.5% during the fourth quarter. Evergreen Capital Management LLC now owns 4,207 shares of the financial services provider’s stock worth $681,000 after acquiring an additional 63 shares during the last quarter. 89.30% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. UBS Group restated a “buy” rating and set a $205.00 price target on shares of Intercontinental Exchange in a research note on Wednesday, May 20th. Wall Street Zen upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. Morgan Stanley boosted their price target on Intercontinental Exchange from $183.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Friday, April 10th. Piper Sandler restated an “overweight” rating and set a $211.00 price target (up from $195.00) on shares of Intercontinental Exchange in a research note on Wednesday, April 15th. Finally, Weiss Ratings lowered Intercontinental Exchange from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $194.60.

Insider Transactions at Intercontinental Exchange

In related news, CTO Mayur Kapani sold 4,271 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $155.42, for a total value of $663,798.82. Following the sale, the chief technology officer owned 64,869 shares in the company, valued at $10,081,939.98. This represents a 6.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Warren Gardiner sold 2,490 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $156.64, for a total value of $390,033.60. Following the completion of the sale, the chief financial officer owned 25,189 shares in the company, valued at approximately $3,945,604.96. This represents a 9.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 12,001 shares of company stock worth $1,847,820 in the last ninety days. Corporate insiders own 0.84% of the company’s stock.

Intercontinental Exchange Price Performance

Shares of NYSE ICE opened at $141.36 on Friday. The business’s 50 day moving average price is $155.83 and its 200 day moving average price is $159.72. The firm has a market cap of $79.94 billion, a P/E ratio of 20.58, a P/E/G ratio of 1.36 and a beta of 0.92. Intercontinental Exchange Inc. has a 52 week low of $136.67 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 0.63.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, April 30th. The financial services provider reported $2.35 EPS for the quarter, beating analysts’ consensus estimates of $2.23 by $0.12. The firm had revenue of $3.67 billion for the quarter, compared to analyst estimates of $2.88 billion. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.Intercontinental Exchange’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.72 earnings per share. On average, sell-side analysts expect that Intercontinental Exchange Inc. will post 8.16 earnings per share for the current year.

About Intercontinental Exchange

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.