Intercontinental Exchange Inc. $ICE Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lessened its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 65.5% in the first quarter, HoldingsChannel reports. The fund owned 85,725 shares of the financial services provider’s stock after selling 163,014 shares during the period. Assenagon Asset Management S.A.’s holdings in Intercontinental Exchange were worth $13,483,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Ares Financial Consulting LLC bought a new position in Intercontinental Exchange during the fourth quarter valued at about $25,000. Holos Integrated Wealth LLC purchased a new position in Intercontinental Exchange during the 4th quarter worth approximately $28,000. Steph & Co. raised its position in Intercontinental Exchange by 104.7% during the fourth quarter. Steph & Co. now owns 174 shares of the financial services provider’s stock valued at $28,000 after buying an additional 89 shares during the period. Brooklands Fund Management Ltd acquired a new position in shares of Intercontinental Exchange in the 4th quarter valued at about $28,000. Finally, Swiss RE Ltd. purchased a new stake in Intercontinental Exchange in the 4th quarter worth approximately $28,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Piper Sandler reiterated an “overweight” rating and set a $211.00 price target (up from $195.00) on shares of Intercontinental Exchange in a report on Wednesday, April 15th. TD Cowen dropped their price objective on shares of Intercontinental Exchange from $193.00 to $153.00 and set a “buy” rating for the company in a research note on Monday, June 22nd. Barclays restated an “overweight” rating and set a $201.00 target price (up from $198.00) on shares of Intercontinental Exchange in a research report on Friday, May 1st. UBS Group reaffirmed a “buy” rating and set a $205.00 price objective on shares of Intercontinental Exchange in a research note on Wednesday, May 20th. Finally, Morgan Stanley raised their target price on Intercontinental Exchange from $183.00 to $187.00 and gave the company an “equal weight” rating in a research note on Friday, April 10th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $189.36.

Intercontinental Exchange Trading Down 0.3%

ICE opened at $124.06 on Friday. Intercontinental Exchange Inc. has a twelve month low of $123.74 and a twelve month high of $189.35. The firm’s fifty day moving average is $147.92 and its two-hundred day moving average is $157.60. The firm has a market cap of $70.16 billion, a PE ratio of 18.06, a price-to-earnings-growth ratio of 1.16 and a beta of 0.92. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data 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. The business had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $2.88 billion. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The firm’s revenue was up 20.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.72 EPS. Equities research analysts anticipate that Intercontinental Exchange Inc. will post 8.37 EPS for the current year.

Insider Activity at Intercontinental Exchange

In other 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 transaction 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 position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Warren Gardiner sold 2,490 shares of the business’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $156.64, for a total transaction of $390,033.60. Following the transaction, the chief financial officer owned 25,189 shares in the company, valued at $3,945,604.96. This represents a 9.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 13,425 shares of company stock worth $2,046,324. Insiders own 0.84% of the company’s stock.

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.