Benson Investment Management Company Inc. Has $6.05 Million Position in Intercontinental Exchange Inc. $ICE

Benson Investment Management Company Inc. cut its position in Intercontinental Exchange Inc. (NYSE:ICE) by 2.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 32,953 shares of the financial services provider’s stock after selling 692 shares during the period. Intercontinental Exchange accounts for about 2.3% of Benson Investment Management Company Inc.’s investment portfolio, making the stock its 12th biggest position. Benson Investment Management Company Inc.’s holdings in Intercontinental Exchange were worth $6,046,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Tritonpoint Wealth LLC boosted its position in Intercontinental Exchange by 1.4% in the second quarter. Tritonpoint Wealth LLC now owns 4,347 shares of the financial services provider’s stock valued at $798,000 after buying an additional 58 shares in the last quarter. RB Capital Management LLC boosted its position in Intercontinental Exchange by 1.3% in the second 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 in the last quarter. Chemistry Wealth Management LLC boosted its position in Intercontinental Exchange by 0.8% in the second 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 in the last quarter. Institute for Wealth Management LLC. boosted its position in Intercontinental Exchange by 1.9% in the second 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 in the last quarter. Finally, Fielder Capital Group LLC boosted its position in Intercontinental Exchange by 2.2% in the first 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 in the last quarter. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Intercontinental Exchange Trading Down 1.1%

ICE opened at $157.51 on Friday. The firm’s fifty day moving average is $174.01 and its two-hundred day moving average is $174.13. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market cap of $90.16 billion, a PE ratio of 30.23, a price-to-earnings-growth ratio of 1.94 and a beta of 1.08. Intercontinental Exchange Inc. has a twelve month low of $142.29 and a twelve month high of $189.35.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, July 31st. The financial services provider reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.77 by $0.04. The company had revenue of $3.26 billion for the quarter, compared to analyst estimates of $2.50 billion. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period last year, the business posted $1.52 earnings per share. Equities research analysts anticipate that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Insider Buying and Selling

In other news, COO Stuart Glen Williams sold 939 shares of the stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $172.04, for a total transaction of $161,545.56. Following the completion of the sale, the chief operating officer owned 16,624 shares of the company’s stock, valued at $2,859,992.96. This represents a 5.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Douglas Foley sold 1,600 shares of the stock in a transaction on Friday, September 12th. The stock was sold at an average price of $175.62, for a total transaction of $280,992.00. Following the sale, the senior vice president directly owned 25,796 shares of the company’s stock, valued at $4,530,293.52. This represents a 5.84% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 240,956 shares of company stock valued at $43,789,542. 1.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ICE. Weiss Ratings reiterated a “buy (b)” rating on shares of Intercontinental Exchange in a research report on Wednesday. Morgan Stanley reduced their target price on shares of Intercontinental Exchange from $192.00 to $188.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 1st. Keefe, Bruyette & Woods upgraded shares of Intercontinental Exchange to a “moderate buy” rating in a research report on Monday, October 6th. Piper Sandler upped their target price on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 15th. Finally, UBS Group upped their target price on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the stock a “buy” rating in a research report on Tuesday, July 8th. Nine investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $197.10.

Intercontinental Exchange Company Profile

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.