Intercontinental Exchange, Inc. (NYSE:ICE) Shares Sold by Premier Fund Managers Ltd

Premier Fund Managers Ltd decreased its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 0.3% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 483,621 shares of the financial services provider’s stock after selling 1,593 shares during the period. Intercontinental Exchange accounts for about 2.7% of Premier Fund Managers Ltd’s holdings, making the stock its 4th largest position. Premier Fund Managers Ltd owned about 0.08% of Intercontinental Exchange worth $76,705,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. West Family Investments Inc. bought a new stake in Intercontinental Exchange during the third quarter worth approximately $214,000. PNC Financial Services Group Inc. lifted its stake in shares of Intercontinental Exchange by 4.5% in the third quarter. PNC Financial Services Group Inc. now owns 183,752 shares of the financial services provider’s stock worth $29,518,000 after buying an additional 7,868 shares during the last quarter. Parnassus Investments LLC lifted its stake in shares of Intercontinental Exchange by 4.0% in the third quarter. Parnassus Investments LLC now owns 7,838,727 shares of the financial services provider’s stock worth $1,259,213,000 after buying an additional 299,037 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Intercontinental Exchange during the 3rd quarter worth $19,279,000. Finally, SouthState Corp grew its stake in Intercontinental Exchange by 7.0% in the 3rd quarter. SouthState Corp now owns 63,566 shares of the financial services provider’s stock valued at $10,211,000 after buying an additional 4,140 shares during the last quarter. 89.30% of the stock is owned by institutional investors.

Insider Activity

In other Intercontinental Exchange news, COO Stuart Glen Williams sold 468 shares of the business’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total value of $76,195.08. Following the transaction, the chief operating officer now directly owns 13,530 shares in the company, valued at $2,202,819.30. The trade was a 3.34 % 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, General Counsel Andrew J. Surdykowski sold 2,048 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $159.57, for a total value of $326,799.36. Following the completion of the transaction, the general counsel now directly owns 44,865 shares in the company, valued at $7,159,108.05. The trade was a 4.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,489 shares of company stock worth $1,202,259. Company insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Intercontinental Exchange from $160.00 to $163.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Barclays cut their price objective on Intercontinental Exchange from $179.00 to $173.00 and set an “overweight” rating for the company in a research report on Friday, November 1st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 target price on shares of Intercontinental Exchange in a report on Friday, November 1st. Raymond James downgraded Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 price target on the stock. in a research report on Monday, October 14th. Finally, JPMorgan Chase & Co. increased their price objective on Intercontinental Exchange from $171.00 to $188.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $174.13.

Intercontinental Exchange Trading Up 0.2 %

Shares of Intercontinental Exchange stock opened at $157.93 on Wednesday. Intercontinental Exchange, Inc. has a 52-week low of $110.64 and a 52-week high of $167.99. The firm has a market capitalization of $90.68 billion, a PE ratio of 37.42, a price-to-earnings-growth ratio of 2.57 and a beta of 1.08. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.00 and a quick ratio of 1.00. The company’s fifty day moving average price is $160.81 and its two-hundred day moving average price is $150.63.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.55. The business had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.35 billion. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The firm’s revenue for the quarter was up 17.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.46 earnings per share. On average, analysts expect that Intercontinental Exchange, Inc. will post 6.07 EPS for the current year.

About Intercontinental Exchange

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.