Intercontinental Exchange Inc. $ICE Shares Sold by Rainier Family Wealth Inc.

Key Points

• Rainier Family Wealth Inc. reduced its stake in Intercontinental Exchange Inc. by 59.9%, selling 1,748 shares, and now holds 1,168 shares valued at approximately $201,000.
• Institutional investors own 89.30% of Intercontinental Exchange's stock, indicating a strong confidence in the company among large financial entities.
• Intercontinental Exchange reported a better-than-expected quarterly earnings report, with an EPS of $1.81, surpassing estimates by $0.04, and **revenue growth of 9.8%** year-over-year.

Rainier Family Wealth Inc. trimmed its position in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 59.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,168 shares of the financial services provider's stock after selling 1,748 shares during the period. Rainier Family Wealth Inc.'s holdings in Intercontinental Exchange were worth $201,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Fielder Capital Group LLC boosted its holdings in Intercontinental Exchange by 2.2% in the 1st quarter. Fielder Capital Group LLC now owns 2,808 shares of the financial services provider's stock worth $484,000 after buying an additional 61 shares during the last quarter. E Fund Management Co. Ltd. lifted its stake in Intercontinental Exchange by 4.2% in the 1st quarter. E Fund Management Co. Ltd. now owns 1,500 shares of the financial services provider's stock worth $259,000 after purchasing an additional 61 shares in the last quarter. Berkeley Capital Partners LLC lifted its stake in Intercontinental Exchange by 1.1% in the 1st quarter. Berkeley Capital Partners LLC now owns 5,639 shares of the financial services provider's stock worth $973,000 after purchasing an additional 62 shares in the last quarter. GPS Wealth Strategies Group LLC lifted its stake in Intercontinental Exchange by 17.2% in the 1st quarter. GPS Wealth Strategies Group LLC now owns 430 shares of the financial services provider's stock worth $74,000 after purchasing an additional 63 shares in the last quarter. Finally, Values Added Financial LLC lifted its stake in Intercontinental Exchange by 4.4% in the 1st quarter. Values Added Financial LLC now owns 1,533 shares of the financial services provider's stock worth $264,000 after purchasing an additional 64 shares in the last quarter. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, 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 completion of the sale, the director directly owned 18,169 shares of the company's stock, valued at approximately $3,170,672.19. The trade was a 13.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Duriya M. Farooqui sold 2,036 shares of Intercontinental Exchange stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $178.34, for a total value of $363,100.24. Following the completion of the sale, the director directly owned 14,299 shares of the company's stock, valued at $2,550,083.66. The trade was a 12.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 229,130 shares of company stock valued at $41,890,900. Insiders own 1.00% of the company's stock.

Intercontinental Exchange Stock Up 2.3%

ICE stock opened at $176.12 on Friday. The firm has a market cap of $100.81 billion, a PE ratio of 33.80, a PEG ratio of 2.05 and a beta of 1.10. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.01. The firm's 50 day moving average price is $180.80 and its 200-day moving average price is $174.95. Intercontinental Exchange Inc. has a one year low of $142.29 and a one year high of $189.35.

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

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. UBS Group raised 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. Piper Sandler raised 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. Finally, Barclays raised 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. Ten investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, Intercontinental Exchange has an average rating of "Moderate Buy" and a consensus price target of $194.92.

Intercontinental Exchange Company 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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