Intercontinental Exchange Inc. $ICE Shares Sold by Bruce G. Allen Investments LLC

Bruce G. Allen Investments LLC cut its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 14.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,037 shares of the financial services provider’s stock after selling 177 shares during the quarter. Bruce G. Allen Investments LLC’s holdings in Intercontinental Exchange were worth $190,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in ICE. Price T Rowe Associates Inc. MD grew its position in shares of Intercontinental Exchange by 491.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,433,497 shares of the financial services provider’s stock worth $1,109,780,000 after buying an additional 5,345,388 shares in the last quarter. Nuveen LLC acquired a new position in shares of Intercontinental Exchange during the first quarter worth about $575,383,000. Wellington Management Group LLP grew its position in shares of Intercontinental Exchange by 113.9% during the first quarter. Wellington Management Group LLP now owns 5,943,363 shares of the financial services provider’s stock worth $1,025,230,000 after buying an additional 3,165,381 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Intercontinental Exchange by 24,394.4% during the first quarter. GAMMA Investing LLC now owns 2,264,753 shares of the financial services provider’s stock worth $3,906,700,000 after buying an additional 2,255,507 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Intercontinental Exchange by 50.6% during the first quarter. Bank of New York Mellon Corp now owns 5,933,532 shares of the financial services provider’s stock worth $1,023,534,000 after buying an additional 1,993,084 shares in the last quarter. 89.30% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. UBS Group boosted their price objective on Intercontinental Exchange from $195.00 to $210.00 and gave the stock a “buy” rating in a research report on Tuesday, July 8th. Barclays upped their price target on Intercontinental Exchange from $206.00 to $212.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Finally, Piper Sandler upped their price target on Intercontinental Exchange from $180.00 to $202.00 and gave the company an “overweight” rating in a report on Tuesday, July 15th. Ten research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $194.92.

Intercontinental Exchange Price Performance

Intercontinental Exchange stock opened at $171.36 on Wednesday. Intercontinental Exchange Inc. has a 12 month low of $142.29 and a 12 month high of $189.35. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01. The business has a 50 day simple moving average of $180.21 and a 200-day simple moving average of $174.99. The stock has a market capitalization of $98.09 billion, a PE ratio of 32.89, a price-to-earnings-growth ratio of 2.05 and a beta of 1.10.

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

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, Director Duriya M. Farooqui sold 2,036 shares of the stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $178.34, for a total value of $363,100.24. Following the completion of the transaction, the director owned 14,299 shares in the company, valued at approximately $2,550,083.66. This represents a 12.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 value of $280,992.00. Following the completion of the transaction, the senior vice president owned 25,796 shares of the company’s stock, valued at $4,530,293.52. The trade was a 5.84% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 230,730 shares of company stock valued at $42,171,892 in the last three months. Insiders own 1.00% of the company’s stock.

Intercontinental Exchange 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.