Plato Investment Management Ltd Trims Stock Holdings in Intercontinental Exchange Inc. $ICE

Key Points

• Plato Investment Management Ltd has reduced its stake in Intercontinental Exchange Inc. by 21.6%, selling 4,374 shares to hold a total of 15,833 shares worth approximately $2.76 million.
• Several institutional investors have increased their holdings in Intercontinental Exchange, including Rakuten Securities and Activest Wealth Management, which saw percentage increases of 595.8% and 4,050% respectively in the first quarter.
• Analysts have mostly rated Intercontinental Exchange as a "Moderate Buy," with a consensus target price now set at $194.92, following recent price target increases from firms like UBS and Barclays.

Plato Investment Management Ltd lowered its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 21.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,833 shares of the financial services provider's stock after selling 4,374 shares during the period. Plato Investment Management Ltd's holdings in Intercontinental Exchange were worth $2,761,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in ICE. REAP Financial Group LLC boosted its stake in shares of Intercontinental Exchange by 116.7% during 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 last quarter. Tsfg LLC raised its holdings in Intercontinental Exchange by 187.3% in the 1st quarter. Tsfg LLC now owns 158 shares of the financial services provider's stock valued at $27,000 after acquiring an additional 103 shares during the last quarter. Menard Financial Group LLC purchased a new position in shares of Intercontinental Exchange during the 4th quarter worth $29,000. Rakuten Securities Inc. boosted its holdings 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 worth $29,000 after purchasing an additional 143 shares during the last quarter. Finally, Activest Wealth Management grew its position 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 valued at $29,000 after purchasing an additional 162 shares during the period. Institutional investors and hedge funds own 89.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ICE. UBS Group raised their price target on Intercontinental Exchange from $195.00 to $210.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. 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 report on Friday, August 1st. Finally, Piper Sandler upped their price target on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 15th. Ten research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $194.92.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, SVP Douglas Foley sold 1,600 shares of the company's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $177.48, for a total value of $283,968.00. Following the completion of the transaction, the senior vice president owned 27,313 shares in the company, valued at $4,847,511.24. This represents a 5.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Judith A. Sprieser sold 2,900 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $174.51, for a total transaction of $506,079.00. Following the sale, the director owned 18,169 shares in the company, valued at $3,170,672.19. This represents a 13.76% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 230,730 shares of company stock valued at $42,174,868 over the last 90 days. Corporate insiders own 1.00% of the company's stock.

Intercontinental Exchange Price Performance

ICE opened at $173.53 on Wednesday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.61. Intercontinental Exchange Inc. has a 52-week low of $142.29 and a 52-week high of $189.35. The company has a 50 day moving average of $181.13 and a two-hundred day moving average of $174.91. The company has a market cap of $99.33 billion, a P/E ratio of 33.31, a P/E/G ratio of 2.07 and a beta of 1.10.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued its earnings results on Thursday, July 31st. The financial services provider reported $1.81 EPS for the quarter, beating analysts' consensus estimates of $1.77 by $0.04. The business had revenue of $3.26 billion for 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 business's revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.52 EPS. On average, analysts expect that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

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.

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