Intercontinental Exchange Inc. $ICE Stock Sold by Curated Wealth Partners LLC

Key Points

• Curated Wealth Partners cut its Intercontinental Exchange position by 97.9% in the third quarter, selling 114,702 shares and retaining 2,452 shares worth approximately $373,000. Institutional investors collectively own 89.3% of ICE.
• ICE reported quarterly EPS of $1.90, exceeding the $1.84 consensus estimate, while revenue reached $3.61 billion and increased 4.8% year over year.
• Analysts maintain a generally positive outlook, with the stock receiving a “Moderate Buy” consensus rating and an average price target of $186.31 versus its recent $161.25 price.

Curated Wealth Partners LLC lowered its position in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 97.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,452 shares of the financial services provider's stock after selling 114,702 shares during the period. Curated Wealth Partners LLC's holdings in Intercontinental Exchange were worth $373,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Rakuten Securities Inc. bought a new position in shares of Intercontinental Exchange in the 2nd quarter valued at approximately $26,000. Gables Capital Management Inc. bought a new stake in shares of Intercontinental Exchange during the second quarter valued at approximately $31,000. Fiduciary Financial Advisors acquired a new position in shares of Intercontinental Exchange in the 2nd quarter valued at $33,000. Clearstead Trust LLC bought a new position in Intercontinental Exchange during the second quarter worth about $37,000. Finally, Atlatl Advisers LLC bought a new position in shares of Intercontinental Exchange during the second quarter valued at $39,000. Institutional investors own 89.30% of the company's stock.

Insider Activity

In other Intercontinental Exchange news, President Benjamin Jackson sold 12,862 shares of the business's stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $160.09, for a total transaction of $2,059,077.58. Following the transaction, the president owned 164,264 shares of the company's stock, valued at $26,297,023.76. The trade was a 7.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Christopher Edmonds sold 5,000 shares of the company's stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $160.59, for a total value of $802,950.00. Following the sale, the insider owned 14,367 shares in the company, valued at approximately $2,307,196.53. This represents a 25.82% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 41,179 shares of company stock valued at $6,473,715. Corporate insiders own 0.84% of the company's stock.

Intercontinental Exchange Stock Up 1.8%

NYSE:ICE opened at $161.25 on Friday. The company has a market cap of $90.52 billion, a PE ratio of 22.78, a PEG ratio of 1.53 and a beta of 0.94. Intercontinental Exchange Inc. has a 52-week low of $121.79 and a 52-week high of $176.05. The stock has a 50-day simple moving average of $156.49 and a 200 day simple moving average of $150.87. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.84 by $0.06. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The company had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $2.63 billion. During the same period last year, the company earned $1.81 earnings per share. The firm's revenue was up 4.8% compared to the same quarter last year. On average, sell-side analysts expect that Intercontinental Exchange Inc. will post 8.19 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Morgan Stanley boosted their target price on Intercontinental Exchange from $163.00 to $173.00 and gave the stock an "equal weight" rating in a report on Friday, October 9th. Rothschild & Co Redburn increased their price objective on Intercontinental Exchange from $173.00 to $181.00 and gave the company a "buy" rating in a research report on Thursday, September 10th. UBS Group reaffirmed a "buy" rating and issued a $195.00 target price (up from $190.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. The Goldman Sachs Group upped their target price on shares of Intercontinental Exchange from $192.00 to $195.00 and gave the company a "buy" rating in a research report on Friday, October 2nd. Finally, Argus lowered their price target on Intercontinental Exchange from $190.00 to $187.00 and set a "buy" rating for the company in a research note on Friday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Intercontinental Exchange currently has an average rating of "Moderate Buy" and a consensus price target of $186.31.

Intercontinental Exchange Company Profile

Intercontinental Exchange, Inc NYSE: ICE is a global operator of exchanges, clearinghouses, data services and technology platforms. The company owns and operates the New York Stock Exchange and other exchanges serving equity, options, futures and over-the-counter markets. Its marketplaces support trading in areas including energy, agricultural commodities, interest rates, currencies, equity indexes and individual stocks.

ICE also provides clearing and settlement services that help manage counterparty and transaction risk, along with market data, analytics, connectivity and other technology solutions for financial institutions and businesses.

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