Intercontinental Exchange Inc. $ICE Shares Sold by Blair William & Co. IL

Key Points

• Blair William & Co. IL reduced its stake in Intercontinental Exchange Inc. by 1.2%, holding nearly 1.75 million shares as of the latest quarter.
• Despite a slight decrease in share ownership, hedge funds and institutional investors still own 89.3% of the company's stock.
• Analysts have varying views on ICE, with Morgan Stanley lowering its price target, but others like UBS Group maintaining a 'buy' rating and increasing their price objective.

Blair William & Co. IL reduced its position in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 1.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,752,889 shares of the financial services provider's stock after selling 21,406 shares during the quarter. Intercontinental Exchange comprises approximately 0.9% of Blair William & Co. IL's portfolio, making the stock its 22nd biggest position. Blair William & Co. IL owned approximately 0.31% of Intercontinental Exchange worth $321,603,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Tsfg LLC increased its stake in Intercontinental Exchange by 187.3% in the first quarter. Tsfg LLC now owns 158 shares of the financial services provider's stock valued at $27,000 after purchasing an additional 103 shares during the period. Rakuten Securities Inc. grew its holdings in shares of Intercontinental Exchange by 595.8% during the first quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider's stock worth $29,000 after buying an additional 143 shares during the last quarter. Activest Wealth Management lifted its position in Intercontinental Exchange by 4,050.0% during the 1st quarter. Activest Wealth Management now owns 166 shares of the financial services provider's stock worth $29,000 after acquiring an additional 162 shares during the period. McClarren Financial Advisors Inc. acquired a new stake in Intercontinental Exchange during the 1st quarter worth approximately $30,000. Finally, Global Trust Asset Management LLC acquired a new stake in Intercontinental Exchange during the 1st quarter worth approximately $31,000. Hedge funds and other institutional investors own 89.30% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on ICE. Morgan Stanley cut their price target on Intercontinental Exchange from $192.00 to $188.00 and set an "equal weight" rating for the company in a research note on Wednesday, October 1st. Weiss Ratings reissued a "buy (b)" rating on shares of Intercontinental Exchange in a research note on Wednesday. UBS Group boosted their price objective on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Piper Sandler lifted their target price on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. Finally, Barclays reaffirmed an "overweight" rating and issued a $201.00 target price (down previously from $212.00) on shares of Intercontinental Exchange in a report on Wednesday. Nine investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $197.10.

Insider Activity at Intercontinental Exchange

In other news, SVP Douglas Foley sold 1,600 shares of Intercontinental Exchange stock in a transaction on Friday, September 12th. The stock was sold at an average price of $175.62, for a total transaction of $280,992.00. Following the completion of the transaction, the senior vice president owned 25,796 shares of the company's stock, valued at $4,530,293.52. The trade was a 5.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Judith A. Sprieser sold 2,900 shares of Intercontinental Exchange stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $174.51, for a total value of $506,079.00. Following the transaction, the director directly owned 18,169 shares of the company's stock, valued at $3,170,672.19. This trade represents a 13.76% decrease in their position. The disclosure for this sale can be found here. Insiders sold 230,874 shares of company stock valued at $42,187,714 in the last 90 days. 1.00% of the stock is owned by corporate insiders.

Intercontinental Exchange Stock Down 1.6%

Shares of NYSE ICE opened at $159.31 on Thursday. Intercontinental Exchange Inc. has a 52 week low of $142.29 and a 52 week high of $189.35. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $91.19 billion, a price-to-earnings ratio of 30.58, a price-to-earnings-growth ratio of 1.97 and a beta of 1.08. The firm has a 50-day moving average price of $175.06 and a 200 day moving average price of $174.37.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued its earnings results on Thursday, July 31st. The financial services provider reported $1.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.77 by $0.04. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The company had revenue of $3.26 billion during the quarter, compared to analysts' expectations of $2.50 billion. During the same period last year, the company posted $1.52 earnings per share. The firm's quarterly revenue was up 9.8% compared to the same quarter last year. Equities research analysts anticipate that Intercontinental Exchange Inc. will post 6.73 EPS 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.

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