Intercontinental Exchange Inc. $ICE Shares Sold by Bar Harbor Wealth Management

Bar Harbor Wealth Management cut its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 4.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 25,727 shares of the financial services provider’s stock after selling 1,332 shares during the quarter. Bar Harbor Wealth Management’s holdings in Intercontinental Exchange were worth $4,720,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Tsfg LLC boosted its position in shares of Intercontinental Exchange by 187.3% in the first quarter. Tsfg LLC now owns 158 shares of the financial services provider’s stock worth $27,000 after buying an additional 103 shares during the period. Rakuten Securities Inc. raised its holdings in shares of Intercontinental Exchange by 595.8% during the first quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 143 shares in the last quarter. Activest Wealth Management raised its holdings in Intercontinental Exchange by 4,050.0% during the first quarter. Activest Wealth Management now owns 166 shares of the financial services provider’s stock valued at $29,000 after buying an additional 162 shares in the last quarter. McClarren Financial Advisors Inc. bought a new position in Intercontinental Exchange during the first quarter valued at about $30,000. Finally, Global Trust Asset Management LLC bought a new position in Intercontinental Exchange during the first quarter valued at about $31,000. 89.30% of the stock is owned by institutional investors.

Intercontinental Exchange Stock Down 1.6%

Shares of ICE opened at $159.31 on Thursday. 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 company has a market capitalization of $91.19 billion, a price-to-earnings ratio of 30.58, a PEG ratio of 1.97 and a beta of 1.08. The stock’s 50-day moving average price is $175.06 and its 200-day moving average price is $174.37.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, July 31st. The financial services provider reported $1.81 earnings per share for the quarter, topping 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 company had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $2.50 billion. During the same quarter in the prior year, the firm posted $1.52 EPS. Intercontinental Exchange’s quarterly revenue was up 9.8% compared to the same quarter last year. On average, sell-side analysts predict that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Insider Buying and Selling

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 3,850 shares of the firm’s stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $178.33, for a total value of $686,570.50. Following the sale, the general counsel directly owned 46,293 shares in the company, valued at $8,255,430.69. This trade represents a 7.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of Intercontinental Exchange stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $183.09, for a total value of $27,463,500.00. Following the sale, the chief executive officer owned 1,951,705 shares in the company, valued at $357,337,668.45. This trade represents a 7.14% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 230,874 shares of company stock valued at $42,187,714 in the last ninety days. Company insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

ICE has been the topic of a number of recent analyst reports. Piper Sandler lifted their price objective on Intercontinental Exchange from $180.00 to $202.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 15th. Keefe, Bruyette & Woods raised Intercontinental Exchange to a “moderate buy” rating in a report on Monday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Intercontinental Exchange in a report on Wednesday. Morgan Stanley cut their target price on shares of Intercontinental Exchange from $192.00 to $188.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 1st. Finally, JPMorgan Chase & Co. lifted their target price on shares of Intercontinental Exchange from $195.00 to $203.00 and gave the company an “overweight” rating in a research note on Thursday, September 25th. Nine investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus 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.