AAFMAA Wealth Management & Trust LLC Has $1.19 Million Holdings in Intercontinental Exchange Inc. $ICE

Key Points

• AAFMAA Wealth Management & Trust LLC reduced its holdings in Intercontinental Exchange (ICE) by 35%, ending with 6,497 shares worth approximately $1.19 million.
• Multiple institutional investors significantly increased their stakes in ICE, with Price T Rowe Associates growing its position by 491.3% to own over $1.1 billion in shares.
• Research analysts have raised their price targets for ICE, with Barclays having the highest at $212.00, and the stock currently holds a consensus rating of "Moderate Buy."

AAFMAA Wealth Management & Trust LLC cut its position in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 35.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,497 shares of the financial services provider's stock after selling 3,491 shares during the quarter. AAFMAA Wealth Management & Trust LLC's holdings in Intercontinental Exchange were worth $1,192,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ICE. Price T Rowe Associates Inc. MD grew its stake in 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 buying an additional 5,345,388 shares during the last quarter. Nuveen LLC acquired a new position in Intercontinental Exchange in the 1st quarter valued at $575,383,000. Wellington Management Group LLP grew its stake in Intercontinental Exchange by 113.9% in the 1st quarter. Wellington Management Group LLP now owns 5,943,363 shares of the financial services provider's stock valued at $1,025,230,000 after buying an additional 3,165,381 shares during the last quarter. GAMMA Investing LLC grew its stake in Intercontinental Exchange by 24,394.4% in the 1st quarter. GAMMA Investing LLC now owns 2,264,753 shares of the financial services provider's stock valued at $3,906,700,000 after buying an additional 2,255,507 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Intercontinental Exchange by 50.6% in the 1st quarter. Bank of New York Mellon Corp now owns 5,933,532 shares of the financial services provider's stock valued at $1,023,534,000 after buying an additional 1,993,084 shares during the last quarter. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Intercontinental Exchange

In other news, Director Judith A. Sprieser sold 2,900 shares of the firm's stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $174.51, for a total transaction of $506,079.00. Following the completion of the transaction, the director directly owned 18,169 shares of the company's stock, valued at approximately $3,170,672.19. This trade represents a 13.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the firm's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $183.09, for a total transaction of $27,463,500.00. Following the transaction, the chief executive officer directly owned 1,951,705 shares of the company's stock, valued at $357,337,668.45. The trade was a 7.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 231,669 shares of company stock worth $42,333,438 in the last ninety days. Company insiders own 1.00% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on ICE shares. Piper Sandler raised their target price on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the company an "overweight" rating in a research note on Tuesday, July 15th. JPMorgan Chase & Co. raised their price target on shares of Intercontinental Exchange from $195.00 to $203.00 and gave the stock an "overweight" rating in a research report on Thursday. Barclays raised their price target on shares of Intercontinental Exchange from $206.00 to $212.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Finally, UBS Group raised their price target on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. Nine analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $197.36.

Intercontinental Exchange Price Performance

NYSE:ICE opened at $167.20 on Friday. The company has a 50-day moving average of $178.56 and a 200-day moving average of $174.90. The company has a market capitalization of $95.71 billion, a price-to-earnings ratio of 32.09, a PEG ratio of 2.00 and a beta of 1.10. Intercontinental Exchange Inc. has a 52 week low of $142.29 and a 52 week high of $189.35. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.01.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last released its quarterly earnings data 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 company 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 firm's revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period last year, the firm earned $1.52 EPS. As a group, equities research analysts anticipate that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal 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.

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