OFI Invest Asset Management Sells 11,482 Shares of Intercontinental Exchange Inc. $ICE

OFI Invest Asset Management trimmed its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 95.1% in the 2nd quarter, Holdings Channel.com reports. The firm owned 596 shares of the financial services provider’s stock after selling 11,482 shares during the period. OFI Invest Asset Management’s holdings in Intercontinental Exchange were worth $109,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of Intercontinental Exchange by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 52,940,356 shares of the financial services provider’s stock valued at $9,132,211,000 after purchasing an additional 712,179 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Intercontinental Exchange by 491.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,433,497 shares of the financial services provider’s stock valued at $1,109,780,000 after purchasing an additional 5,345,388 shares during the last quarter. Amundi lifted its stake in shares of Intercontinental Exchange by 14.7% during the 1st quarter. Amundi now owns 6,315,706 shares of the financial services provider’s stock worth $1,060,574,000 after acquiring an additional 810,938 shares during the last quarter. Independent Franchise Partners LLP lifted its stake in shares of Intercontinental Exchange by 0.5% during the 1st quarter. Independent Franchise Partners LLP now owns 6,192,424 shares of the financial services provider’s stock worth $1,068,193,000 after acquiring an additional 31,588 shares during the last quarter. Finally, Wellington Management Group LLP lifted its stake in shares of Intercontinental Exchange by 113.9% during the 1st quarter. Wellington Management Group LLP now owns 5,943,363 shares of the financial services provider’s stock worth $1,025,230,000 after acquiring an additional 3,165,381 shares during the last quarter. 89.30% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Judith A. Sprieser sold 2,900 shares of the business’s stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $174.51, for a total transaction of $506,079.00. Following the transaction, the director directly owned 18,169 shares in the company, valued at $3,170,672.19. The trade was a 13.76% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer owned 1,951,705 shares in the company, valued at approximately $357,337,668.45. This trade represents a 7.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 240,956 shares of company stock worth $43,789,542. Insiders own 1.00% of the company’s stock.

Intercontinental Exchange Trading Down 1.1%

Shares of NYSE:ICE opened at $157.51 on Monday. Intercontinental Exchange Inc. has a 12-month low of $142.29 and a 12-month high of $189.35. The business’s fifty day simple moving average is $174.01 and its 200-day simple moving average is $174.11. The company has a market capitalization of $90.16 billion, a PE ratio of 30.23, a P/E/G ratio of 1.93 and a beta of 1.08. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, July 31st. The financial services provider reported $1.81 earnings per share (EPS) for the quarter, beating 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 business had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same period last year, the business posted $1.52 EPS. The business’s revenue was up 9.8% compared to the same quarter last year. As a group, equities research analysts predict that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ICE. Morgan Stanley decreased their price target on 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. Keefe, Bruyette & Woods raised Intercontinental Exchange to a “moderate buy” rating in a research note on Monday, October 6th. Piper Sandler raised their price target on Intercontinental Exchange from $180.00 to $202.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 15th. UBS Group raised their price target on Intercontinental Exchange from $195.00 to $210.00 and gave the stock a “buy” rating in a research note on Tuesday, July 8th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Intercontinental Exchange in a research note on Wednesday, October 8th. Nine investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price 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.