Nicolet Bankshares Inc. Has $1.55 Million Stock Holdings in Intercontinental Exchange Inc. $ICE

Key Points

• Nicolet Bankshares Inc. reduced its stake in Intercontinental Exchange by 13.9%, now holding 8,974 shares valued at $1,548,000 after selling 1,448 shares in the first quarter.
• Various hedge funds and institutional investors, including Vanguard Group and Royal Bank of Canada, recently increased their holdings in Intercontinental Exchange, with 89.30% of the stock currently owned by such entities.
• Intercontinental Exchange reported a 9.8% year-over-year revenue growth for the quarter, with an EPS of $1.81, beating estimates, while also announcing a quarterly dividend of $0.48.

Nicolet Bankshares Inc. lowered its position in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 13.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,974 shares of the financial services provider's stock after selling 1,448 shares during the period. Nicolet Bankshares Inc.'s holdings in Intercontinental Exchange were worth $1,548,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Findlay Park Partners LLP increased its position in shares of Intercontinental Exchange by 1.4% in the 1st quarter. Findlay Park Partners LLP now owns 1,025,269 shares of the financial services provider's stock valued at $176,859,000 after buying an additional 13,800 shares in the last quarter. J. Stern & Co. LLP increased its position in shares of Intercontinental Exchange by 0.8% in the 1st quarter. J. Stern & Co. LLP now owns 277,242 shares of the financial services provider's stock valued at $47,824,000 after buying an additional 2,180 shares in the last quarter. Tandem Wealth Advisors LLC boosted its stake in Intercontinental Exchange by 18.2% in the 1st quarter. Tandem Wealth Advisors LLC now owns 3,920 shares of the financial services provider's stock worth $676,000 after purchasing an additional 603 shares during the period. Freedom Investment Management Inc. acquired a new position in Intercontinental Exchange in the 1st quarter worth $212,000. Finally, Independent Franchise Partners LLP boosted its stake in Intercontinental Exchange by 0.5% in the 1st quarter. Independent Franchise Partners LLP now owns 6,192,424 shares of the financial services provider's stock worth $1,068,193,000 after purchasing an additional 31,588 shares during the period. Institutional investors own 89.30% of the company's stock.

Intercontinental Exchange Stock Performance

Intercontinental Exchange stock traded down $0.54 during trading hours on Friday, hitting $176.60. The company had a trading volume of 1,775,543 shares, compared to its average volume of 3,016,317. The firm has a market cap of $101.09 billion, a PE ratio of 33.90, a PEG ratio of 2.11 and a beta of 1.11. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01. Intercontinental Exchange Inc. has a one year low of $142.29 and a one year high of $189.35. The firm has a 50-day moving average of $182.10 and a 200 day moving average of $174.43.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The financial services provider reported $1.81 earnings per share 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 firm earned $1.52 EPS. The business's revenue was up 9.8% on a year-over-year basis. On average, sell-side analysts expect that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ICE. Piper Sandler upped their target price on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 15th. Keefe, Bruyette & Woods upped their target price on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Barclays upped their target price on shares of Intercontinental Exchange from $206.00 to $212.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Morgan Stanley upped their target price on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the stock an "equal weight" rating in a research note on Monday, May 5th. Finally, UBS Group upped their target price on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Ten analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $194.92.

Insider Activity at Intercontinental Exchange

In other news, CEO Jeffrey C. Sprecher sold 150,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $183.09, for a total transaction of $27,463,500.00. Following the transaction, the chief executive officer directly owned 1,951,705 shares of the company's stock, valued at approximately $357,337,668.45. This trade represents a 7.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Warren Gardiner sold 1,570 shares of the firm's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $178.45, for a total transaction of $280,166.50. Following the transaction, the chief financial officer directly owned 22,106 shares in the company, valued at $3,944,815.70. This represents a 6.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 449,993 shares of company stock valued at $81,486,507. 1.00% of the stock is currently owned by company insiders.

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.