Intercontinental Exchange Inc. $ICE Position Reduced by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. cut its position in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 3.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 176,794 shares of the financial services provider's stock after selling 7,248 shares during the quarter. Resona Asset Management Co. Ltd.'s holdings in Intercontinental Exchange were worth $28,700,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of ICE. Ares Financial Consulting LLC purchased a new stake in shares of Intercontinental Exchange in the fourth quarter worth approximately $25,000. Holos Integrated Wealth LLC purchased a new stake in shares of Intercontinental Exchange during the fourth quarter worth $28,000. Steph & Co. raised its holdings in shares of Intercontinental Exchange by 104.7% during the fourth quarter. Steph & Co. now owns 174 shares of the financial services provider's stock worth $28,000 after acquiring an additional 89 shares in the last quarter. Dorato Capital Management purchased a new stake in shares of Intercontinental Exchange during the fourth quarter worth $29,000. Finally, Caitlin John LLC bought a new position in Intercontinental Exchange during the third quarter valued at approximately $32,000. Hedge funds and other institutional investors own 89.30% of the company's stock.

Intercontinental Exchange Stock Down 1.2%

NYSE ICE opened at $154.18 on Wednesday. Intercontinental Exchange Inc. has a one year low of $143.17 and a one year high of $189.35. The stock's 50 day simple moving average is $158.87 and its 200 day simple moving average is $159.96. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market cap of $87.19 billion, a PE ratio of 22.44, a price-to-earnings-growth ratio of 1.44 and a beta of 0.96.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The financial services provider reported $2.35 EPS for the quarter, topping analysts' consensus estimates of $2.23 by $0.12. The firm had revenue of $3.67 billion for the quarter, compared to analyst estimates of $2.88 billion. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The company's revenue was up 20.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.72 EPS. As a group, sell-side analysts forecast that Intercontinental Exchange Inc. will post 8.16 earnings per share for the current fiscal year.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, CTO Mayur Kapani sold 4,271 shares of Intercontinental Exchange stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $155.42, for a total transaction of $663,798.82. Following the transaction, the chief technology officer directly owned 64,869 shares in the company, valued at approximately $10,081,939.98. The trade was a 6.18% 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, General Counsel Andrew J. Surdykowski sold 4,571 shares of Intercontinental Exchange stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $162.00, for a total value of $740,502.00. Following the transaction, the general counsel owned 48,181 shares in the company, valued at approximately $7,805,322. This represents a 8.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 39,956 shares of company stock worth $6,190,895 over the last ninety days. 0.84% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Piper Sandler restated an "overweight" rating and set a $211.00 target price (up from $195.00) on shares of Intercontinental Exchange in a report on Wednesday, April 15th. Wall Street Zen upgraded Intercontinental Exchange from a "sell" rating to a "hold" rating in a research note on Saturday, February 7th. UBS Group reiterated a "buy" rating and issued a $200.00 price objective on shares of Intercontinental Exchange in a research note on Monday, February 9th. Morgan Stanley boosted their target price on shares of Intercontinental Exchange from $183.00 to $187.00 and gave the stock an "equal weight" rating in a research report on Friday, April 10th. Finally, Barclays reaffirmed an "overweight" rating and set a $201.00 target price (up from $198.00) on shares of Intercontinental Exchange in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $194.10.

About Intercontinental Exchange

Intercontinental Exchange NYSE: ICE is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.

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