HighTower Advisors LLC Sells 21,642 Shares of Intercontinental Exchange Inc. (NYSE:ICE)

HighTower Advisors LLC decreased its position in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 8.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 230,649 shares of the financial services provider's stock after selling 21,642 shares during the quarter. HighTower Advisors LLC's holdings in Intercontinental Exchange were worth $39,787,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in ICE. REAP Financial Group LLC grew its stake in shares of Intercontinental Exchange by 116.7% in the 4th quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider's stock worth $25,000 after acquiring an additional 91 shares in the last quarter. Tsfg LLC grew its stake in shares of Intercontinental Exchange by 187.3% in the 1st quarter. Tsfg LLC now owns 158 shares of the financial services provider's stock worth $27,000 after acquiring an additional 103 shares in the last quarter. Menard Financial Group LLC bought a new stake in shares of Intercontinental Exchange in the 4th quarter worth $29,000. Rakuten Securities Inc. grew its stake in shares of Intercontinental Exchange by 595.8% in the 1st quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider's stock worth $29,000 after acquiring an additional 143 shares in the last quarter. Finally, McClarren Financial Advisors Inc. bought a new position in Intercontinental Exchange during the first quarter valued at about $30,000. Institutional investors own 89.30% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Piper Sandler increased their price target on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the company an "overweight" rating in a research report on Tuesday, July 15th. UBS Group increased their price target on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. Barclays increased their price target on shares of Intercontinental Exchange from $206.00 to $212.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Morgan Stanley increased their price target on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the company an "equal weight" rating in a research report on Monday, May 5th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the company an "outperform" rating in a research report on Friday, May 2nd. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $194.92.

Insiders Place Their Bets

In related news, SVP Douglas Foley sold 1,600 shares of the firm's stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $177.48, for a total value of $283,968.00. Following the sale, the senior vice president directly owned 27,313 shares of the company's stock, valued at $4,847,511.24. This trade represents a 5.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 3,848 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $179.12, for a total transaction of $689,253.76. Following the completion of the sale, the general counsel directly owned 48,480 shares in the company, valued at $8,683,737.60. This represents a 7.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 443,488 shares of company stock valued at $80,323,823 over the last three months. Corporate insiders own 1.00% of the company's stock.

Intercontinental Exchange Trading Up 0.8%

Shares of Intercontinental Exchange stock opened at $182.78 on Friday. The company's 50-day moving average price is $181.97 and its 200-day moving average price is $173.23. The company has a market cap of $104.63 billion, a price-to-earnings ratio of 35.08, a PEG ratio of 2.15 and a beta of 1.11. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. Intercontinental Exchange Inc. has a 12-month low of $142.29 and a 12-month high of $189.35.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last announced its earnings results on Thursday, July 31st. The financial services provider reported $1.81 earnings per share for the quarter, beating analysts' consensus estimates of $1.77 by $0.04. The business 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%. Intercontinental Exchange's quarterly revenue was up 9.8% on a year-over-year basis. During the same period last year, the firm posted $1.52 earnings per share. On average, equities analysts expect that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 1.1%. Intercontinental Exchange's dividend payout ratio is currently 36.85%.

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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