Pacer Advisors Inc. Sells 12,204 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Pacer Advisors Inc. reduced its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 17.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 57,950 shares of the financial services provider’s stock after selling 12,204 shares during the period. Pacer Advisors Inc.’s holdings in Intercontinental Exchange were worth $8,635,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in ICE. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Intercontinental Exchange by 1.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 35,151 shares of the financial services provider’s stock valued at $5,647,000 after buying an additional 366 shares in the last quarter. M&T Bank Corp raised its stake in shares of Intercontinental Exchange by 33.2% during the third quarter. M&T Bank Corp now owns 46,689 shares of the financial services provider’s stock worth $7,500,000 after acquiring an additional 11,648 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. lifted its holdings in shares of Intercontinental Exchange by 9.2% in the 4th quarter. Dixon Mitchell Investment Counsel Inc. now owns 728,133 shares of the financial services provider’s stock worth $108,515,000 after acquiring an additional 61,110 shares during the last quarter. Toronto Dominion Bank boosted its stake in shares of Intercontinental Exchange by 1.6% in the 3rd quarter. Toronto Dominion Bank now owns 310,560 shares of the financial services provider’s stock valued at $49,888,000 after purchasing an additional 4,973 shares in the last quarter. Finally, Bright Rock Capital Management LLC bought a new position in shares of Intercontinental Exchange during the 4th quarter valued at $4,470,000. Institutional investors own 89.30% of the company’s stock.

Insiders Place Their Bets

In other news, insider Christopher Scott Edmonds sold 601 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $147.73, for a total value of $88,785.73. Following the sale, the insider now directly owns 12,922 shares of the company’s stock, valued at approximately $1,908,967.06. This represents a 4.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Benjamin Jackson sold 5,828 shares of Intercontinental Exchange stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $160.00, for a total value of $932,480.00. Following the completion of the transaction, the president now directly owns 156,163 shares of the company’s stock, valued at approximately $24,986,080. This represents a 3.60 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,795 shares of company stock worth $2,120,572. 1.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Keefe, Bruyette & Woods cut their price target on shares of Intercontinental Exchange from $183.00 to $178.00 and set an “outperform” rating for the company in a research report on Monday, January 13th. Barclays decreased their price target on Intercontinental Exchange from $187.00 to $179.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. Deutsche Bank Aktiengesellschaft increased their price objective on Intercontinental Exchange from $160.00 to $163.00 and gave the company a “hold” rating in a research note on Monday, November 11th. The Goldman Sachs Group lifted their target price on shares of Intercontinental Exchange from $171.00 to $185.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Finally, Piper Sandler increased their price target on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, two have given 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 an average target price of $175.27.

Intercontinental Exchange Trading Down 1.0 %

ICE opened at $157.25 on Thursday. The stock has a market cap of $90.29 billion, a PE ratio of 37.26, a PEG ratio of 2.95 and a beta of 1.10. The business has a 50 day moving average of $153.07 and a 200-day moving average of $156.32. Intercontinental Exchange, Inc. has a 52 week low of $124.34 and a 52 week high of $167.99. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.68.

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 analysts’ consensus estimates of $1.55. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The firm had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same period in the prior year, the firm earned $1.46 EPS. The company’s revenue was up 17.3% compared to the same quarter last year. Equities research analysts predict that Intercontinental Exchange, Inc. will post 6.05 earnings per share for the current fiscal year.

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.