Capital Insight Partners LLC Trims Stock Position in Intercontinental Exchange Inc. $ICE

Key Points

• Capital Insight Partners LLC reduced its holdings in Intercontinental Exchange Inc. by 5.1%, owning 40,529 shares valued at approximately $7.43 million as of the latest SEC filing.
• Several institutional investors, including Advisors Capital Management LLC and Ritholtz Wealth Management, have increased their stakes in Intercontinental Exchange, reflecting growing confidence in the company.
• Intercontinental Exchange reported strong quarterly earnings, with an EPS of $1.81, exceeding analyst expectations, and a significant revenue increase to $3.26 billion, up 9.8% year-over-year.

Capital Insight Partners LLC trimmed its holdings in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 5.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 40,529 shares of the financial services provider's stock after selling 2,179 shares during the quarter. Intercontinental Exchange accounts for approximately 1.3% of Capital Insight Partners LLC's investment portfolio, making the stock its 25th biggest holding. Capital Insight Partners LLC's holdings in Intercontinental Exchange were worth $7,436,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Advisors Capital Management LLC lifted its holdings in Intercontinental Exchange by 25.0% in the first quarter. Advisors Capital Management LLC now owns 1,978 shares of the financial services provider's stock valued at $341,000 after acquiring an additional 396 shares during the period. Capital Investment Advisory Services LLC acquired a new position in shares of Intercontinental Exchange in the 1st quarter valued at $349,000. Sequoia Financial Advisors LLC lifted its stake in shares of Intercontinental Exchange by 18.3% in the 1st quarter. Sequoia Financial Advisors LLC now owns 12,168 shares of the financial services provider's stock valued at $2,099,000 after purchasing an additional 1,879 shares during the period. Ritholtz Wealth Management boosted its holdings in Intercontinental Exchange by 52.3% during the first quarter. Ritholtz Wealth Management now owns 7,953 shares of the financial services provider's stock worth $1,372,000 after buying an additional 2,732 shares in the last quarter. Finally, First American Bank grew its position in Intercontinental Exchange by 2.1% during the first quarter. First American Bank now owns 76,332 shares of the financial services provider's stock valued at $13,167,000 after buying an additional 1,580 shares during the period. Hedge funds and other institutional investors own 89.30% of the company's stock.

Intercontinental Exchange Price Performance

Shares of Intercontinental Exchange stock opened at $167.69 on Monday. The stock has a market capitalization of $95.99 billion, a P/E ratio of 32.19, a PEG ratio of 2.00 and a beta of 1.10. The business has a 50 day simple moving average of $178.30 and a two-hundred day simple moving average of $174.98. Intercontinental Exchange Inc. has a 12 month low of $142.29 and a 12 month high of $189.35. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The financial services provider reported $1.81 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $3.26 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same period in the previous year, the company posted $1.52 earnings per share. The business's revenue was up 9.8% on a year-over-year basis. As a group, analysts predict that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ICE has been the subject of a number of analyst reports. UBS Group upped their price objective 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. JPMorgan Chase & Co. lifted their price target on Intercontinental Exchange from $195.00 to $203.00 and gave the company an "overweight" rating in a research note on Thursday. Piper Sandler increased their price target on Intercontinental Exchange from $180.00 to $202.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 15th. Finally, Barclays raised their price objective on Intercontinental Exchange from $206.00 to $212.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Nine investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $197.36.

Insider Buying and Selling at Intercontinental Exchange

In other news, Director Duriya M. Farooqui sold 2,036 shares of the stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $178.34, for a total value of $363,100.24. Following the completion of the sale, the director directly owned 14,299 shares in the company, valued at $2,550,083.66. This represents a 12.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Stuart Glen Williams sold 939 shares of the firm's stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $172.04, for a total transaction of $161,545.56. Following the completion of the transaction, the chief operating officer directly owned 16,624 shares in the company, valued at approximately $2,859,992.96. This represents a 5.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 231,669 shares of company stock valued at $42,333,438. 1.00% of the stock is owned by company insiders.

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.

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