Intercontinental Exchange Inc. $ICE Shares Sold by Rainier Family Wealth Inc.

Rainier Family Wealth Inc. decreased its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 59.9% in the 1st quarter, HoldingsChannel.com reports. The fund owned 1,168 shares of the financial services provider’s stock after selling 1,748 shares during the quarter. Rainier Family Wealth Inc.’s holdings in Intercontinental Exchange were worth $201,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. REAP Financial Group LLC grew its stake in shares of Intercontinental Exchange by 116.7% in the fourth quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 91 shares in the last quarter. Tsfg LLC grew its stake 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 acquiring an additional 103 shares in the last quarter. Menard Financial Group LLC acquired a new position in shares of Intercontinental Exchange in the fourth quarter worth $29,000. Rakuten Securities Inc. grew its stake in shares of Intercontinental Exchange by 595.8% in 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. Finally, Activest Wealth Management grew its stake in shares of Intercontinental Exchange by 4,050.0% in the first quarter. Activest Wealth Management now owns 166 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 162 shares in the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Intercontinental Exchange Stock Performance

Shares of ICE stock opened at $176.12 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. The firm has a fifty day moving average price of $180.80 and a 200 day moving average price of $174.95. The company has a market cap of $100.81 billion, a P/E ratio of 33.80, a PEG ratio of 2.05 and a beta of 1.10. Intercontinental Exchange Inc. has a 12 month low of $142.29 and a 12 month high of $189.35.

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

Insider Buying and Selling

In other Intercontinental Exchange news, CFO Warren Gardiner sold 1,570 shares of the company’s stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $178.45, for a total value of $280,166.50. Following the completion of the transaction, the chief financial officer owned 22,106 shares in the company, valued at $3,944,815.70. This represents a 6.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 3,850 shares of the company’s stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $178.33, for a total transaction of $686,570.50. Following the completion of the transaction, the general counsel owned 46,293 shares of the company’s stock, valued at $8,255,430.69. This represents a 7.68% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 229,130 shares of company stock valued at $41,890,900 over the last ninety days. Company insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Barclays boosted their price target on shares of Intercontinental Exchange from $206.00 to $212.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. UBS Group boosted their price target on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the stock a “buy” rating in a research note on Tuesday, July 8th. Finally, Piper Sandler boosted their target price on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 15th. Ten analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $194.92.

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.