Intercontinental Exchange Inc. $ICE Stock Position Decreased by Schwerin Boyle Capital Management Inc.

Key Points

• Schwerin Boyle Capital Management Inc. reduced its holdings in Intercontinental Exchange Inc. by 9.0%, now owning 55,650 shares valued at approximately $9.6 million.
• Institutional investors like Vanguard Group Inc. and Royal Bank of Canada have increased their stakes in Intercontinental Exchange, with Vanguard owning over 52 million shares valued at $9.13 billion.
• Intercontinental Exchange recently reported strong quarterly earnings with an EPS of $1.81, surpassing analysts' expectations, and announced a quarterly dividend of $0.48 per share.

Schwerin Boyle Capital Management Inc. trimmed its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 9.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,650 shares of the financial services provider's stock after selling 5,500 shares during the period. Intercontinental Exchange comprises approximately 1.0% of Schwerin Boyle Capital Management Inc.'s holdings, making the stock its 29th biggest holding. Schwerin Boyle Capital Management Inc.'s holdings in Intercontinental Exchange were worth $9,600,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of ICE. REAP Financial Group LLC increased 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 in the last quarter. Tsfg LLC increased its stake in shares of Intercontinental Exchange by 187.3% during the 1st quarter. Tsfg LLC now owns 158 shares of the financial services provider's stock worth $27,000 after purchasing an additional 103 shares in the last quarter. Menard Financial Group LLC purchased a new position in shares of Intercontinental Exchange during the 4th quarter worth approximately $29,000. Rakuten Securities Inc. increased its stake in shares of Intercontinental Exchange by 595.8% during the 1st quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider's stock worth $29,000 after purchasing an additional 143 shares in the last quarter. Finally, McClarren Financial Advisors Inc. purchased a new position in shares of Intercontinental Exchange during the 1st quarter worth approximately $30,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on ICE. Piper Sandler lifted 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. Morgan Stanley lifted their price target on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the company an "equal weight" rating in a report on Monday, May 5th. UBS Group lifted their price target on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Barclays lifted their price target on shares of Intercontinental Exchange from $206.00 to $212.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Ten equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $194.92.

Insider Activity at Intercontinental Exchange

In other news, Director Martha A. Tirinnanzi sold 610 shares of the business's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $179.76, for a total value of $109,653.60. Following the completion of the sale, the director owned 3,519 shares of the company's stock, valued at approximately $632,575.44. The trade was a 14.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sharon Bowen sold 794 shares of the business's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $185.00, for a total transaction of $146,890.00. Following the completion of the sale, the director directly owned 14,206 shares of the company's stock, valued at $2,628,110. The trade was a 5.29% decrease in their position. The disclosure for this sale can be found here. Insiders sold 448,569 shares of company stock worth $81,233,566 over the last ninety days. Company insiders own 1.00% of the company's stock.

Intercontinental Exchange Stock Down 0.1%

Shares of NYSE:ICE traded down $0.18 during trading on Thursday, hitting $177.12. The company's stock had a trading volume of 2,170,883 shares, compared to its average volume of 3,129,241. Intercontinental Exchange Inc. has a fifty-two week low of $142.29 and a fifty-two week high of $189.35. The stock's 50-day moving average price is $182.15 and its two-hundred day moving average price is $174.36. 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 company has a market capitalization of $101.39 billion, a PE ratio of 34.00, a PEG ratio of 2.11 and a beta of 1.11.

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, topping the consensus estimate of $1.77 by $0.04. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.The company had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same period in the previous year, the business earned $1.52 EPS. Intercontinental Exchange's revenue for the quarter was up 9.8% compared to the same quarter last year. As a group, sell-side analysts expect that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

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.