US Bancorp DE Sells 2,759 Shares of Intercontinental Exchange Inc. $ICE

Key Points

• US Bancorp DE reduced its holdings in Intercontinental Exchange (ICE) by 2.2%, selling 2,759 shares, and now owns 121,277 shares valued at approximately $22.25 million.
• Several institutional investors, including Price T Rowe Associates and Wellington Management Group, significantly increased their positions in Intercontinental Exchange during the first quarter of the year.
• Analysts have mixed views on ICE, with Barclays maintaining an "overweight" rating but lowering its price target from $212.00 to $201.00, while UBS raised its target from $195.00 to $210.00 and maintained a "buy" rating.

US Bancorp DE cut its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 2.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 121,277 shares of the financial services provider's stock after selling 2,759 shares during the period. US Bancorp DE's holdings in Intercontinental Exchange were worth $22,251,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Price T Rowe Associates Inc. MD boosted its position in 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 buying an additional 5,345,388 shares during the last quarter. Nuveen LLC bought a new position in Intercontinental Exchange in the 1st quarter valued at $575,383,000. Wellington Management Group LLP boosted its position in 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 buying an additional 3,165,381 shares during the last quarter. Bank of New York Mellon Corp boosted its position in 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 buying an additional 1,993,084 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in 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 buying an additional 861,679 shares during the last quarter. 89.30% of the stock is currently owned by institutional investors.

Insider Activity

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 3,850 shares of Intercontinental Exchange stock in a transaction dated Tuesday, August 26th. The stock was 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Judith A. Sprieser sold 2,900 shares of Intercontinental Exchange stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $174.51, for a total value of $506,079.00. Following the transaction, the director owned 18,169 shares in the company, valued at approximately $3,170,672.19. This represents a 13.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 240,956 shares of company stock valued at $43,789,542. Company insiders own 1.00% of the company's stock.

Analyst Ratings Changes

A number of brokerages have commented on ICE. Barclays reiterated an "overweight" rating and issued a $201.00 price objective (down from $212.00) on shares of Intercontinental Exchange in a research report on Wednesday. Piper Sandler raised their price target on Intercontinental Exchange from $180.00 to $202.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 15th. JPMorgan Chase & Co. raised their price target on Intercontinental Exchange from $195.00 to $203.00 and gave the stock an "overweight" rating in a research report on Thursday, September 25th. Morgan Stanley reduced their price target on Intercontinental Exchange from $192.00 to $188.00 and set an "equal weight" rating on the stock in a research report on Wednesday, October 1st. Finally, 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 report on Tuesday, July 8th. Nine investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $197.10.

Intercontinental Exchange Stock Performance

ICE stock opened at $157.51 on Friday. The business's 50-day moving average price is $174.01 and its two-hundred day moving average price is $174.13. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. The firm has a market cap of $90.16 billion, a PE ratio of 30.23, a P/E/G ratio of 1.94 and a beta of 1.08. 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 posted its earnings results on Thursday, July 31st. The financial services provider reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.77 by $0.04. The firm had revenue of $3.26 billion for the quarter, compared to analyst estimates of $2.50 billion. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.The company's revenue for the quarter was up 9.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.52 earnings per share. As a group, research analysts forecast that Intercontinental Exchange Inc. will post 6.73 earnings per share 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.

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