Financial Enhancement Group LLC trimmed its holdings in Intercontinental Exchange Inc. (NYSE:ICE – Free Report) by 21.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 66,785 shares of the financial services provider’s stock after selling 18,384 shares during the period. Intercontinental Exchange comprises about 1.2% of Financial Enhancement Group LLC’s investment portfolio, making the stock its 27th largest holding. Financial Enhancement Group LLC’s holdings in Intercontinental Exchange were worth $10,191,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Rakuten Securities Inc. acquired a new position in shares of Intercontinental Exchange in the 2nd quarter valued at approximately $26,000. Brooklands Fund Management Ltd acquired a new stake in Intercontinental Exchange during the 4th quarter worth approximately $28,000. Gables Capital Management Inc. bought a new position in Intercontinental Exchange in the second quarter valued at approximately $31,000. Fiduciary Financial Advisors bought a new position in Intercontinental Exchange in the second quarter valued at approximately $33,000. Finally, Clearstead Trust LLC acquired a new position in shares of Intercontinental Exchange in the second quarter valued at approximately $37,000. 89.30% of the stock is currently owned by institutional investors.
Insiders Place Their Bets
In related news, President Benjamin Jackson sold 12,862 shares of the stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $160.09, for a total transaction of $2,059,077.58. Following the completion of the transaction, the president directly owned 164,264 shares of the company’s stock, valued at approximately $26,297,023.76. This represents a 7.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Martha A. Tirinnanzi sold 1,340 shares of the firm’s stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $161.16, for a total value of $215,954.40. Following the completion of the transaction, the director owned 3,747 shares of the company’s stock, valued at approximately $603,866.52. This represents a 26.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 41,179 shares of company stock valued at $6,473,715 in the last quarter. 0.84% of the stock is currently owned by corporate insiders.
Intercontinental Exchange Stock Up 1.8%
ICE traded up $2.77 during trading hours on Thursday, hitting $155.36. 2,034,618 shares of the company’s stock were exchanged, compared to its average volume of 3,805,488. The stock has a market cap of $87.22 billion, a price-to-earnings ratio of 21.94, a PEG ratio of 1.46 and a beta of 0.94. Intercontinental Exchange Inc. has a 1-year low of $121.79 and a 1-year high of $176.05. The stock’s 50-day moving average is $155.68 and its two-hundred day moving average is $150.76. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63.
Intercontinental Exchange (NYSE:ICE – Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.06. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The firm had revenue of $3.61 billion for the quarter, compared to analyst estimates of $2.63 billion. During the same period in the previous year, the business earned $1.81 EPS. The company’s revenue was up 4.8% compared to the same quarter last year. Sell-side analysts predict that Intercontinental Exchange Inc. will post 8.15 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
Several brokerages have recently issued reports on ICE. Piper Sandler reissued an “overweight” rating and set a $195.00 price objective (up from $190.00) on shares of Intercontinental Exchange in a research report on Friday, October 2nd. Weiss Ratings raised shares of Intercontinental Exchange from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Intercontinental Exchange in a research note on Wednesday. UBS Group reissued a “buy” rating and issued a $195.00 price target (up from $190.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $178.00 price objective on shares of Intercontinental Exchange in a research report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $182.31.
Get Our Latest Analysis on Intercontinental Exchange
Intercontinental Exchange Profile
Intercontinental Exchange, Inc NYSE: ICE operates global exchanges, clearinghouses, data services and technology platforms. The company provides marketplaces and infrastructure that support the trading, clearing and management of risk across financial and commodity markets.
Its businesses include the New York Stock Exchange, ICE Futures exchanges and ICE Clear clearinghouses. ICE offers trading and clearing services for equities, equity options, interest rates, currencies, energy, agricultural commodities, metals and other contracts.
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