MAI Capital Management Reduces Position in Intercontinental Exchange Inc. $ICE

Key Points

• MAI Capital Management reduced its stake in Intercontinental Exchange Inc. by 1.6% during the first quarter, owning 124,655 shares valued at approximately $21.5 million.
• Various institutional investors, including Tsfg LLC and Activest Wealth Management, significantly increased their positions in the company, highlighting increased interest among hedge funds and institutional investors.
• Analyst ratings for Intercontinental Exchange have been largely positive, with multiple firms raising their price targets, indicating a consensus rating of "Moderate Buy" with a price target averaging around $194.92.

MAI Capital Management reduced its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 1.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 124,655 shares of the financial services provider's stock after selling 2,090 shares during the quarter. MAI Capital Management's holdings in Intercontinental Exchange were worth $21,503,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Tsfg LLC increased its holdings in shares of Intercontinental Exchange by 187.3% in the 1st quarter. Tsfg LLC now owns 158 shares of the financial services provider's stock worth $27,000 after buying an additional 103 shares during the last quarter. Activest Wealth Management grew its stake in shares of Intercontinental Exchange by 4,050.0% in the first quarter. Activest Wealth Management now owns 166 shares of the financial services provider's stock worth $29,000 after purchasing an additional 162 shares during the last quarter. Rakuten Securities Inc. increased its stake 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 valued at $29,000 after buying an additional 143 shares during the period. REAP Financial Group LLC lifted its position in shares of Intercontinental Exchange by 116.7% in the 4th quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider's stock worth $25,000 after purchasing an additional 91 shares during the period. Finally, McClarren Financial Advisors Inc. purchased a new position in shares of Intercontinental Exchange during the 1st quarter worth approximately $30,000. Institutional investors own 89.30% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. 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 report on Friday, August 1st. Piper Sandler upped their price objective on Intercontinental Exchange from $180.00 to $202.00 and gave the company an "overweight" rating in a research report on Tuesday, July 15th. Finally, UBS Group upped their price objective on Intercontinental Exchange from $195.00 to $210.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. Ten analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $194.92.

Intercontinental Exchange Trading Down 0.1%

NYSE:ICE traded down $0.17 during mid-day trading on Wednesday, hitting $174.92. 1,902,977 shares of the stock traded hands, compared to its average volume of 2,726,441. 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 $100.13 billion, a price-to-earnings ratio of 33.57, a PEG ratio of 2.11 and a beta of 1.10. The firm's 50 day moving average is $181.88 and its two-hundred day moving average is $174.66.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last posted its quarterly earnings data 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. The company had revenue of $3.26 billion during the quarter, compared to analysts' expectations of $2.50 billion. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.Intercontinental Exchange's revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.52 EPS. On average, equities research analysts predict that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, CEO Jeffrey C. Sprecher sold 150,000 shares of the firm's stock in a transaction dated 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 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 position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 3,850 shares of Intercontinental Exchange stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $178.33, for a total transaction of $686,570.50. Following the transaction, the general counsel directly owned 46,293 shares in the company, valued at approximately $8,255,430.69. The trade was a 7.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 231,678 shares of company stock valued at $42,358,043 over the last three months. 1.00% of the stock is currently owned by corporate insiders.

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.