Chesley Taft & Associates LLC Has $13.93 Million Stock Holdings in Intercontinental Exchange Inc. $ICE

Key Points

• Chesley Taft & Associates LLC has reduced its holdings in Intercontinental Exchange by 2.8%, owning 75,945 shares valued at approximately $13.93 million after selling 2,154 shares.
• Several analysts have recently increased their price targets for Intercontinental Exchange, with Piper Sandler raising it from $180 to $202 and UBS Group adjusting it from $195 to $210.
• Insider transactions have occurred, including General Counsel Andrew J. Surdykowski selling 3,850 shares, reflecting a 7.68% decrease in his ownership of the stock.

Chesley Taft & Associates LLC trimmed its holdings in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 2.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,945 shares of the financial services provider's stock after selling 2,154 shares during the quarter. Chesley Taft & Associates LLC's holdings in Intercontinental Exchange were worth $13,934,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in ICE. Advisors Capital Management LLC lifted its position 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 worth $341,000 after purchasing an additional 396 shares during the period. Capital Investment Advisory Services LLC acquired a new stake in Intercontinental Exchange in the first quarter worth approximately $349,000. Sequoia Financial Advisors LLC lifted its position in Intercontinental Exchange by 18.3% in the first quarter. Sequoia Financial Advisors LLC now owns 12,168 shares of the financial services provider's stock worth $2,099,000 after purchasing an additional 1,879 shares during the period. Lansforsakringar Fondforvaltning AB publ acquired a new stake in Intercontinental Exchange in the fourth quarter worth approximately $28,949,000. Finally, Ritholtz Wealth Management lifted its position in Intercontinental Exchange by 52.3% in the first quarter. Ritholtz Wealth Management now owns 7,953 shares of the financial services provider's stock worth $1,372,000 after purchasing an additional 2,732 shares during the period. 89.30% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Judith A. Sprieser sold 2,900 shares of the firm's stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $174.51, for a total value of $506,079.00. Following the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Duriya M. Farooqui sold 2,036 shares of the firm's 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 approximately $2,550,083.66. This represents a 12.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 231,669 shares of company stock valued at $42,333,438 in the last quarter. Insiders own 1.00% of the company's stock.

Wall Street Analyst Weigh In

ICE has been the subject of a number of research analyst reports. UBS Group upped their target price on Intercontinental Exchange from $195.00 to $210.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. Piper Sandler upped their target price 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 upped their target price on Intercontinental Exchange from $206.00 to $212.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Ten analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $194.92.

Intercontinental Exchange Stock Down 0.9%

Shares of NYSE:ICE traded down $1.48 during midday trading on Friday, hitting $169.65. 4,806,529 shares of the stock were exchanged, compared to its average volume of 2,622,167. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market capitalization of $97.11 billion, a PE ratio of 32.56, a P/E/G ratio of 2.02 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 business's fifty day simple moving average is $179.58 and its two-hundred day simple moving average is $174.98.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last posted its earnings results on Thursday, July 31st. The financial services provider reported $1.81 EPS for the quarter, topping the consensus estimate of $1.77 by $0.04. The firm had revenue of $3.26 billion for 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 business's quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.52 earnings per share. As a group, research analysts predict that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal 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.