Cullen Investment Group LTD. Trims Holdings in Intercontinental Exchange Inc. $ICE

Cullen Investment Group LTD. decreased its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 84.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,133 shares of the financial services provider’s stock after selling 6,191 shares during the quarter. Cullen Investment Group LTD.’s holdings in Intercontinental Exchange were worth $208,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Tsfg LLC raised its position 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 purchasing an additional 103 shares during the last quarter. Activest Wealth Management raised its position in Intercontinental Exchange by 4,050.0% in the 1st 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 last quarter. Rakuten Securities Inc. raised its position in Intercontinental Exchange by 595.8% in the 1st quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 143 shares during the last quarter. REAP Financial Group LLC raised its position in Intercontinental Exchange by 116.7% in the 4th quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 91 shares during the last quarter. Finally, McClarren Financial Advisors Inc. purchased a new position in Intercontinental Exchange during the 1st quarter worth $30,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on ICE shares. Barclays upped their price objective 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. Piper Sandler upped their price objective 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. Finally, UBS Group upped their price objective on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the stock a “buy” rating in a research report on Tuesday, July 8th. Ten analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Intercontinental Exchange currently has an average rating of “Moderate Buy” and an average target price of $194.92.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, Director Duriya M. Farooqui sold 2,036 shares of the firm’s stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $178.34, for a total transaction of $363,100.24. Following the sale, the director directly owned 14,299 shares of the company’s stock, valued at $2,550,083.66. This trade represents a 12.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Douglas Foley sold 1,600 shares of the firm’s stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $175.62, for a total transaction of $280,992.00. Following the sale, the senior vice president directly owned 25,796 shares in the company, valued at $4,530,293.52. This represents a 5.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 230,730 shares of company stock worth $42,171,892 in the last 90 days. Insiders own 1.00% of the company’s stock.

Intercontinental Exchange Stock Performance

NYSE:ICE opened at $174.02 on Friday. The stock has a market cap of $99.61 billion, a PE ratio of 33.40, a price-to-earnings-growth ratio of 2.10 and a beta of 1.10. Intercontinental Exchange Inc. has a fifty-two week low of $142.29 and a fifty-two week high of $189.35. The firm’s fifty day simple moving average is $180.62 and its 200-day simple moving average is $174.99. 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 (NYSE:ICE) last issued its quarterly earnings data 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 firm had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $2.50 billion. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The firm’s revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the company earned $1.52 EPS. Analysts expect that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal 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.