Benson Investment Management Company Inc. Sells 692 Shares of Intercontinental Exchange Inc. $ICE

Benson Investment Management Company Inc. lowered its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 2.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,953 shares of the financial services provider’s stock after selling 692 shares during the period. Intercontinental Exchange comprises about 2.3% of Benson Investment Management Company Inc.’s portfolio, making the stock its 12th largest holding. Benson Investment Management Company Inc.’s holdings in Intercontinental Exchange were worth $6,046,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in ICE. Tsfg LLC lifted its stake in Intercontinental Exchange by 187.3% in the first quarter. Tsfg LLC now owns 158 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 103 shares during the last quarter. Rakuten Securities Inc. lifted its stake in Intercontinental Exchange by 595.8% in the first quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 143 shares during the last quarter. Activest Wealth Management boosted its holdings in shares of Intercontinental Exchange by 4,050.0% during the 1st quarter. Activest Wealth Management now owns 166 shares of the financial services provider’s stock worth $29,000 after buying an additional 162 shares during the period. McClarren Financial Advisors Inc. acquired a new stake in Intercontinental Exchange during the first quarter worth approximately $30,000. Finally, Global Trust Asset Management LLC bought a new position in shares of Intercontinental Exchange during the first quarter worth approximately $31,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ICE. Piper Sandler upped their price objective on Intercontinental Exchange from $180.00 to $202.00 and gave the company an “overweight” rating in a report on Tuesday, July 15th. JPMorgan Chase & Co. boosted their price objective 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 boosted their price objective on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the company a “buy” rating in a report on Tuesday, July 8th. Weiss Ratings reissued a “buy (b)” rating on shares of Intercontinental Exchange in a report on Wednesday. Finally, Keefe, Bruyette & Woods raised shares of Intercontinental Exchange to a “moderate buy” rating in a report on Monday, October 6th. Nine research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $197.10.

Intercontinental Exchange Price Performance

Shares of NYSE:ICE opened at $157.51 on Friday. The firm has a 50 day moving average of $174.01 and a 200-day moving average of $174.13. The stock has a market capitalization of $90.16 billion, a PE ratio of 30.23, a PEG ratio of 1.94 and a beta of 1.08. 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.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results 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. The company 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% compared to the same quarter last year. During the same period in the previous year, the company earned $1.52 EPS. On average, equities research analysts predict that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Insider Activity at Intercontinental Exchange

In related news, Director Judith A. Sprieser sold 2,900 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $174.51, for a total transaction of $506,079.00. Following the sale, the director directly owned 18,169 shares of the company’s stock, valued at approximately $3,170,672.19. The trade was a 13.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Stuart Glen Williams sold 939 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $172.04, for a total transaction of $161,545.56. Following the sale, the chief operating officer directly owned 16,624 shares in the company, valued at $2,859,992.96. This trade represents a 5.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 240,956 shares of company stock worth $43,789,542 in the last ninety days. Insiders own 1.00% of the company’s stock.

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.