Segment Wealth Management LLC Sells 356 Shares of Intercontinental Exchange Inc. $ICE

Segment Wealth Management LLC lessened its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 0.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,407 shares of the financial services provider’s stock after selling 356 shares during the quarter. Segment Wealth Management LLC’s holdings in Intercontinental Exchange were worth $9,065,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Ameritas Advisory Services LLC bought a new position in Intercontinental Exchange during the second quarter valued at $189,000. Mattern Capital Management LLC lifted its position in Intercontinental Exchange by 0.5% during the second quarter. Mattern Capital Management LLC now owns 54,858 shares of the financial services provider’s stock valued at $10,065,000 after purchasing an additional 285 shares during the last quarter. Exchange Capital Management Inc. lifted its position in Intercontinental Exchange by 28.4% during the second quarter. Exchange Capital Management Inc. now owns 8,132 shares of the financial services provider’s stock valued at $1,492,000 after purchasing an additional 1,797 shares during the last quarter. Hilltop National Bank bought a new position in Intercontinental Exchange during the second quarter valued at $31,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in Intercontinental Exchange by 23.4% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 90,581 shares of the financial services provider’s stock valued at $16,619,000 after purchasing an additional 17,176 shares during the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Performance

Shares of NYSE ICE opened at $162.47 on Friday. 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 12 month low of $142.29 and a 12 month high of $189.35. The company has a 50 day simple moving average of $176.53 and a two-hundred day simple moving average of $174.67. The stock has a market cap of $93.00 billion, a price-to-earnings ratio of 31.18, a PEG ratio of 1.96 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, July 31st. The financial services provider reported $1.81 EPS 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 period in the previous year, the business posted $1.52 EPS. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. As a group, analysts predict that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Insider Transactions at Intercontinental Exchange

In related news, General Counsel Andrew J. Surdykowski sold 3,850 shares of the business’s stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $178.33, for a total value of $686,570.50. Following the completion of the transaction, the general counsel directly owned 46,293 shares in the company, valued at $8,255,430.69. The trade was a 7.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Duriya M. Farooqui sold 2,036 shares of the business’s stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $178.34, for a total transaction of $363,100.24. Following the completion of the transaction, the director owned 14,299 shares of the company’s stock, valued at approximately $2,550,083.66. This represents a 12.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 230,874 shares of company stock worth $42,187,714. Insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on ICE shares. Barclays increased their target price on shares of Intercontinental Exchange from $206.00 to $212.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. UBS Group increased their target price on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the company a “buy” rating in a research note on Tuesday, July 8th. 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 research note on Tuesday, July 15th. Weiss Ratings reissued a “buy (b)” rating on shares of Intercontinental Exchange in a research note on Saturday, September 27th. Finally, 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 research note on Thursday, September 25th. Nine research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Intercontinental Exchange presently has a consensus rating of “Moderate Buy” and an average target price of $198.20.

Intercontinental Exchange 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.