Synergy Asset Management LLC Has $1.26 Million Stock Position in Intercontinental Exchange Inc. $ICE

Key Points

• Synergy Asset Management LLC reduced its stake in Intercontinental Exchange Inc. by 29.7% in Q2, holding 6,869 shares valued at $1.26 million after selling 2,901 shares.
• As of the latest reports, 89.30% of Intercontinental Exchange's shares are owned by institutional investors, indicating strong institutional interest in the company.
• Intercontinental Exchange's earnings report revealed a quarterly EPS of $1.81, surpassing estimates, with revenue of $3.26 billion, a 9.8% increase year-over-year.

Synergy Asset Management LLC lowered its stake in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 29.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,869 shares of the financial services provider's stock after selling 2,901 shares during the quarter. Synergy Asset Management LLC's holdings in Intercontinental Exchange were worth $1,260,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in ICE. Price T Rowe Associates Inc. MD lifted its stake in shares of Intercontinental Exchange by 491.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,433,497 shares of the financial services provider's stock valued at $1,109,780,000 after purchasing an additional 5,345,388 shares during the period. Nuveen LLC acquired a new position in shares of Intercontinental Exchange in the 1st quarter valued at $575,383,000. Wellington Management Group LLP lifted its stake in shares of Intercontinental Exchange by 113.9% in the 1st quarter. Wellington Management Group LLP now owns 5,943,363 shares of the financial services provider's stock valued at $1,025,230,000 after purchasing an additional 3,165,381 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Intercontinental Exchange by 50.6% in the 1st quarter. Bank of New York Mellon Corp now owns 5,933,532 shares of the financial services provider's stock valued at $1,023,534,000 after purchasing an additional 1,993,084 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Intercontinental Exchange by 31.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,575,859 shares of the financial services provider's stock valued at $616,836,000 after purchasing an additional 861,679 shares during the period. Institutional investors and hedge funds own 89.30% of the company's stock.

Insider Buying and Selling

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 3,850 shares of the firm's 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 completion of the sale, the general counsel directly owned 46,293 shares in the company, valued at $8,255,430.69. This trade represents a 7.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Judith A. Sprieser sold 2,900 shares of the firm's stock in a transaction that occurred on Thursday, September 4th. The stock was 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 of the company's stock, valued at $3,170,672.19. This trade represents a 13.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 230,874 shares of company stock worth $42,187,714 over the last three months. Company insiders own 1.00% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently commented on ICE. UBS Group upped 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. JPMorgan Chase & Co. upped their price objective on shares of Intercontinental Exchange from $195.00 to $203.00 and gave the company an "overweight" rating in a research report on Thursday, September 25th. Barclays upped 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 upped 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, Morgan Stanley lowered their price objective on shares of Intercontinental Exchange from $192.00 to $188.00 and set an "equal weight" rating for the company in a research report on Wednesday. Eight research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $198.20.

Intercontinental Exchange Price Performance

ICE stock opened at $160.85 on Friday. The stock has a 50-day moving average price of $176.97 and a two-hundred day moving average price of $174.74. The stock has a market cap of $92.07 billion, a PE ratio of 30.87, a price-to-earnings-growth ratio of 1.95 and a beta of 1.08. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. Intercontinental Exchange Inc. has a 1 year low of $142.29 and a 1 year high of $189.35.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The financial services provider reported $1.81 earnings per share for the quarter, beating the consensus estimate 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 for the quarter was up 9.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.52 EPS. Equities analysts forecast that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal 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.

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