Pacific Capital Partners Ltd Has $1.51 Million Holdings in Intercontinental Exchange Inc. $ICE

Key Points

• Pacific Capital Partners Ltd reduced its stake in Intercontinental Exchange by 67% to 8,250 shares, now valued at approximately $1.51 million.
• Analysts have increased their price targets for Intercontinental Exchange, with Barclays raising it from $206 to $212 and UBS Group from $195 to $210, indicating a positive outlook on the stock.
• Insider trading activity included sales of over 230,000 shares valued at approximately $42 million in the last ninety days, with the General Counsel selling nearly 4,000 shares.

Pacific Capital Partners Ltd cut its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 67.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,250 shares of the financial services provider's stock after selling 16,750 shares during the period. Intercontinental Exchange accounts for 1.4% of Pacific Capital Partners Ltd's holdings, making the stock its 25th largest position. Pacific Capital Partners Ltd's holdings in Intercontinental Exchange were worth $1,514,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. RB Capital Management LLC raised its position in shares of Intercontinental Exchange by 1.3% in the second quarter. RB Capital Management LLC now owns 4,584 shares of the financial services provider's stock valued at $841,000 after buying an additional 59 shares in the last quarter. Fielder Capital Group LLC raised its position in shares of Intercontinental Exchange by 2.2% in the first quarter. Fielder Capital Group LLC now owns 2,808 shares of the financial services provider's stock valued at $484,000 after buying an additional 61 shares in the last quarter. E Fund Management Co. Ltd. raised its position in shares of Intercontinental Exchange by 4.2% in the first quarter. E Fund Management Co. Ltd. now owns 1,500 shares of the financial services provider's stock valued at $259,000 after buying an additional 61 shares in the last quarter. Berkeley Capital Partners LLC raised its position in shares of Intercontinental Exchange by 1.1% in the first quarter. Berkeley Capital Partners LLC now owns 5,639 shares of the financial services provider's stock valued at $973,000 after buying an additional 62 shares in the last quarter. Finally, GPS Wealth Strategies Group LLC raised its position in shares of Intercontinental Exchange by 17.2% in the first quarter. GPS Wealth Strategies Group LLC now owns 430 shares of the financial services provider's stock valued at $74,000 after buying an additional 63 shares in the last quarter. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have commented on ICE. Barclays boosted their price objective on shares of Intercontinental Exchange from $206.00 to $212.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Piper Sandler boosted their price objective on shares of 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 boosted their price objective on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the company a "buy" rating in a research report 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. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $194.92.

Insiders Place Their Bets

In related news, General Counsel Andrew J. Surdykowski sold 3,850 shares of the stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $178.33, for a total value of $686,570.50. Following the completion of the sale, the general counsel directly owned 46,293 shares in the company, valued at $8,255,430.69. This represents a 7.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Douglas Foley sold 1,600 shares of the stock in a transaction on Friday, September 12th. The shares were sold at an average price of $175.62, for a total value of $280,992.00. Following the completion of the sale, the senior vice president owned 25,796 shares of the company's stock, valued at $4,530,293.52. The trade was a 5.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 230,730 shares of company stock valued at $42,171,892 over the last ninety days. 1.00% of the stock is currently owned by corporate insiders.

Intercontinental Exchange Stock Down 1.2%

Shares of NYSE:ICE opened at $174.02 on Friday. The company has a fifty day moving average of $180.62 and a 200-day moving average of $174.99. The company has a market capitalization of $99.61 billion, a PE ratio of 33.40, a price-to-earnings-growth ratio of 2.10 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. Intercontinental Exchange Inc. has a 52-week low of $142.29 and a 52-week high of $189.35.

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

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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