Intercontinental Exchange Inc. $ICE Shares Sold by Focus Partners Wealth

Key Points

• Focus Partners Wealth has reduced its holdings in Intercontinental Exchange Inc. by 5.3%, owning approximately $57.5 million worth of shares after selling 18,641 shares.
• Intercontinental Exchange reported $1.81 EPS for its latest quarter, exceeding analysts' expectations of $1.77, with revenue of $3.26 billion compared to predictions of $2.50 billion.
• Analysts have set new price targets for Intercontinental Exchange, with Barclays increasing the target to $212 and Piper Sandler to $202, reflecting a bullish outlook on the stock.

Focus Partners Wealth reduced its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 5.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 333,354 shares of the financial services provider's stock after selling 18,641 shares during the period. Focus Partners Wealth owned about 0.06% of Intercontinental Exchange worth $57,504,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in ICE. REAP Financial Group LLC raised its position in shares of Intercontinental Exchange by 116.7% during 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 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 last quarter. Menard Financial Group LLC purchased a new position in Intercontinental Exchange in the fourth quarter valued at approximately $29,000. Rakuten Securities Inc. lifted its position in shares of Intercontinental Exchange by 595.8% during the 1st 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. Finally, Activest Wealth Management lifted its position in shares of 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 buying an additional 162 shares during the last quarter. Hedge funds and other institutional investors own 89.30% of the company's stock.

Intercontinental Exchange Stock Performance

Intercontinental Exchange stock opened at $172.25 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 current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. The stock has a market cap of $98.60 billion, a P/E ratio of 33.06, a price-to-earnings-growth ratio of 2.07 and a beta of 1.10. The stock has a 50 day moving average of $180.94 and a 200-day moving average of $174.89.

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

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Barclays raised their price target on Intercontinental Exchange from $206.00 to $212.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Piper Sandler increased 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, UBS Group lifted their price target on Intercontinental Exchange from $195.00 to $210.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Ten investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, Intercontinental Exchange currently has an average rating of "Moderate Buy" and a consensus price target of $194.92.

Insiders Place Their Bets

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 3,850 shares of the stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $178.33, for a total transaction of $686,570.50. Following the transaction, the general counsel owned 46,293 shares of the company's stock, valued at $8,255,430.69. This trade represents a 7.68% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Warren Gardiner sold 1,570 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $178.45, for a total value of $280,166.50. Following the completion of the transaction, the chief financial officer owned 22,106 shares of the company's stock, valued at approximately $3,944,815.70. The trade was a 6.63% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 229,130 shares of company stock worth $41,890,900. Company insiders own 1.00% of the company's stock.

Intercontinental Exchange Profile

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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