Hahn Capital Management LLC Decreases Stock Position in Intercontinental Exchange Inc. $ICE

Hahn Capital Management LLC decreased its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 1.9% during the second quarter, Holdings Channel.com reports. The institutional investor owned 63,251 shares of the financial services provider’s stock after selling 1,256 shares during the quarter. Intercontinental Exchange accounts for about 5.5% of Hahn Capital Management LLC’s portfolio, making the stock its 5th largest position. Hahn Capital Management LLC’s holdings in Intercontinental Exchange were worth $11,605,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in ICE. Brighton Jones LLC grew its holdings in shares of Intercontinental Exchange by 51.3% during the 4th quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider’s stock valued at $514,000 after purchasing an additional 1,169 shares during the last quarter. NBC Securities Inc. bought a new position in shares of Intercontinental Exchange during the 1st quarter valued at $88,000. ST Germain D J Co. Inc. grew its holdings in shares of Intercontinental Exchange by 18.4% during the 1st quarter. ST Germain D J Co. Inc. now owns 514 shares of the financial services provider’s stock valued at $89,000 after purchasing an additional 80 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its holdings in shares of Intercontinental Exchange by 32.8% during the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 13,781 shares of the financial services provider’s stock valued at $2,377,000 after purchasing an additional 3,400 shares during the last quarter. Finally, Retireful LLC bought a new position in shares of Intercontinental Exchange during the 1st quarter valued at $524,000. Institutional investors own 89.30% of the company’s stock.

Insider Transactions at Intercontinental Exchange

In other 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 value of $363,100.24. Following the completion of the sale, the director directly owned 14,299 shares of the company’s stock, valued at approximately $2,550,083.66. This trade represents a 12.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Judith A. Sprieser sold 2,900 shares of the firm’s stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $174.51, for a total transaction of $506,079.00. Following the completion of the sale, the director directly owned 18,169 shares of the company’s stock, 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 90 days, insiders sold 230,874 shares of company stock worth $42,187,714. 1.00% of the stock is owned by corporate insiders.

Intercontinental Exchange Trading Down 1.1%

Shares of ICE opened at $160.85 on Friday. The stock has a market capitalization of $92.07 billion, a P/E ratio of 30.87, a PEG ratio of 1.95 and a beta of 1.08. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.61. The firm has a fifty day simple moving average of $176.97 and a two-hundred day simple moving average of $174.74. Intercontinental Exchange Inc. has a twelve month low of $142.29 and a twelve month high of $189.35.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results 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. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The business had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $2.50 billion. During the same quarter in the prior year, the company posted $1.52 EPS. The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. On average, research analysts anticipate that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ICE. Piper Sandler increased their target price on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the company an “overweight” rating in a report on Tuesday, July 15th. Morgan Stanley reduced their target price on shares of Intercontinental Exchange from $192.00 to $188.00 and set an “equal weight” rating on the stock in a report on Wednesday. JPMorgan Chase & Co. increased their target price on shares of Intercontinental Exchange from $195.00 to $203.00 and gave the company an “overweight” rating in a report on Thursday, September 25th. UBS Group increased their price target 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. Finally, Barclays increased their price target 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. Eight investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $198.20.

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.