Intercontinental Exchange, Inc. (NYSE:ICE) Shares Sold by DAVENPORT & Co LLC

DAVENPORT & Co LLC trimmed its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 0.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 734,263 shares of the financial services provider’s stock after selling 1,499 shares during the period. DAVENPORT & Co LLC owned 0.13% of Intercontinental Exchange worth $109,466,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Wolff Wiese Magana LLC boosted its position in shares of Intercontinental Exchange by 1,470.0% during the third quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock worth $25,000 after buying an additional 147 shares during the period. Northwest Investment Counselors LLC acquired a new position in Intercontinental Exchange during the 3rd quarter worth $26,000. Financial Management Professionals Inc. boosted its position in Intercontinental Exchange by 106.1% during the 3rd quarter. Financial Management Professionals Inc. now owns 169 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 87 shares during the period. Capital Performance Advisors LLP bought a new position in shares of Intercontinental Exchange in the third quarter worth $29,000. Finally, FSA Wealth Management LLC acquired a new position in shares of Intercontinental Exchange during the third quarter valued at $31,000. Institutional investors own 89.30% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Keefe, Bruyette & Woods reduced their price objective on shares of Intercontinental Exchange from $183.00 to $178.00 and set an “outperform” rating for the company in a report on Monday, January 13th. JPMorgan Chase & Co. reduced their price target on shares of Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Piper Sandler raised their price objective on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. StockNews.com downgraded Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Wednesday, January 8th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 price target on shares of Intercontinental Exchange in a research note on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Intercontinental Exchange currently has an average rating of “Moderate Buy” and an average target price of $175.27.

Insider Buying and Selling

In other news, General Counsel Andrew J. Surdykowski sold 955 shares of the stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $156.08, for a total value of $149,056.40. Following the completion of the sale, the general counsel now directly owns 44,702 shares of the company’s stock, valued at $6,977,088.16. This represents a 2.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Benjamin Jackson sold 5,828 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $160.00, for a total transaction of $932,480.00. Following the transaction, the president now directly owns 156,163 shares in the company, valued at $24,986,080. The trade was a 3.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,795 shares of company stock valued at $2,120,572. Company insiders own 1.10% of the company’s stock.

Intercontinental Exchange Trading Up 0.2 %

Shares of ICE opened at $159.82 on Friday. The business’s 50-day moving average price is $153.12 and its 200 day moving average price is $156.44. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $91.77 billion, a P/E ratio of 37.87, a P/E/G ratio of 3.01 and a beta of 1.10. Intercontinental Exchange, Inc. has a 1-year low of $124.34 and a 1-year high of $167.99.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, hitting the consensus estimate of $1.55. The business had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.35 billion. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The firm’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same period last year, the firm posted $1.46 earnings per share. Analysts expect that Intercontinental Exchange, Inc. will post 6.05 earnings per share for the current year.

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.