Bar Harbor Wealth Management Lowers Stock Position in Intercontinental Exchange Inc. $ICE

Bar Harbor Wealth Management lessened its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 4.9% during the second quarter, Holdings Channel.com reports. The firm owned 25,727 shares of the financial services provider’s stock after selling 1,332 shares during the quarter. Bar Harbor Wealth Management’s holdings in Intercontinental Exchange were worth $4,720,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Winthrop Advisory Group LLC purchased a new stake in Intercontinental Exchange in the 2nd quarter valued at approximately $484,000. NBT Bank N A NY raised its position in shares of Intercontinental Exchange by 3.0% during the 2nd quarter. NBT Bank N A NY now owns 13,868 shares of the financial services provider’s stock worth $2,544,000 after purchasing an additional 404 shares during the last quarter. Proffitt & Goodson Inc. raised its position in shares of Intercontinental Exchange by 2.3% during the 2nd quarter. Proffitt & Goodson Inc. now owns 8,321 shares of the financial services provider’s stock worth $1,527,000 after purchasing an additional 191 shares during the last quarter. Venturi Wealth Management LLC raised its position in shares of Intercontinental Exchange by 25.2% during the 2nd quarter. Venturi Wealth Management LLC now owns 4,124 shares of the financial services provider’s stock worth $757,000 after purchasing an additional 830 shares during the last quarter. Finally, Shell Asset Management Co. raised its holdings in Intercontinental Exchange by 63.0% in the 2nd quarter. Shell Asset Management Co. now owns 36,229 shares of the financial services provider’s stock valued at $6,647,000 after acquiring an additional 14,005 shares during the last quarter. 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 weighed in on ICE shares. Keefe, Bruyette & Woods raised shares of Intercontinental Exchange to a “moderate buy” rating in a research report on Monday. Barclays reaffirmed an “overweight” rating and issued a $201.00 price objective (down previously from $212.00) on shares of Intercontinental Exchange in a research note on Wednesday. UBS Group raised their price objective on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the stock a “buy” rating in a research note on Tuesday, July 8th. JPMorgan Chase & Co. increased their target price on shares of Intercontinental Exchange from $195.00 to $203.00 and gave the stock an “overweight” rating in a research report on Thursday, September 25th. Finally, Piper Sandler lifted their target price on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the stock an “overweight” rating in a report on Tuesday, July 15th. Nine investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $197.10.

Intercontinental Exchange Trading Down 1.6%

ICE opened at $159.31 on Thursday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market cap of $91.19 billion, a price-to-earnings ratio of 30.58, a price-to-earnings-growth ratio of 1.97 and a beta of 1.08. The firm has a 50 day simple moving average of $175.06 and a 200 day simple moving average of $174.37. Intercontinental Exchange Inc. has a fifty-two week low of $142.29 and a fifty-two week high of $189.35.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, July 31st. The financial services provider reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.77 by $0.04. The firm had revenue of $3.26 billion during 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 business’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.52 earnings per share. On average, sell-side analysts anticipate that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Insider Activity

In related news, SVP Douglas Foley sold 1,600 shares of the company’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $175.62, for a total value of $280,992.00. Following the transaction, the senior vice president directly owned 25,796 shares in the company, valued at approximately $4,530,293.52. This represents a 5.84% 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 Duriya M. Farooqui sold 2,036 shares of the stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $178.34, for a total transaction of $363,100.24. Following the sale, the director owned 14,299 shares in the company, valued at $2,550,083.66. The trade was a 12.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 230,874 shares of company stock valued at $42,187,714. 1.00% of the stock is owned by corporate insiders.

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.