Banco Santander S.A. Sells 5,349 Shares of Intercontinental Exchange Inc. $ICE

Banco Santander S.A. reduced its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 2.2% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 232,543 shares of the financial services provider’s stock after selling 5,349 shares during the quarter. Banco Santander S.A.’s holdings in Intercontinental Exchange were worth $42,665,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in ICE. Tsfg LLC grew its stake in shares of 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 buying an additional 103 shares in the last quarter. Princeton Global Asset Management LLC bought a new position in shares of Intercontinental Exchange in the second quarter valued at $28,000. Activest Wealth Management grew its stake in shares of Intercontinental Exchange by 4,050.0% in the first quarter. Activest Wealth Management now owns 166 shares of the financial services provider’s stock valued at $29,000 after buying an additional 162 shares in the last quarter. McClarren Financial Advisors Inc. bought a new position in shares of Intercontinental Exchange in the first quarter valued at $30,000. Finally, Hilltop National Bank bought a new position in shares of Intercontinental Exchange in the second quarter valued at $31,000. 89.30% of the stock is owned by institutional investors.

Insider Activity at Intercontinental Exchange

In other news, CTO Mayur Kapani sold 10,082 shares of Intercontinental Exchange stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $158.88, for a total transaction of $1,601,828.16. Following the completion of the sale, the chief technology officer owned 65,240 shares of the company’s stock, valued at approximately $10,365,331.20. This trade represents a 13.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Duriya M. Farooqui sold 2,036 shares of Intercontinental Exchange stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $178.34, for a total value 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 represents a 12.46% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 240,162 shares of company stock valued at $43,642,652. 1.00% of the stock is currently owned by insiders.

Intercontinental Exchange Trading Up 0.2%

Shares of Intercontinental Exchange stock opened at $157.71 on Monday. Intercontinental Exchange Inc. has a 1 year low of $142.29 and a 1 year high of $189.35. 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 capitalization of $90.28 billion, a price-to-earnings ratio of 30.27, a P/E/G ratio of 2.20 and a beta of 1.08. The business has a fifty day simple moving average of $168.26 and a two-hundred day simple moving average of $173.68.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, July 31st. The financial services provider reported $1.81 earnings per share for the quarter, topping analysts’ consensus estimates of $1.77 by $0.04. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.The company had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter last year, the firm earned $1.52 earnings per share. The company’s revenue was up 9.8% on a year-over-year basis. Research analysts forecast that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on ICE shares. JPMorgan Chase & Co. raised 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. Keefe, Bruyette & Woods raised shares of Intercontinental Exchange to a “moderate buy” rating in a research note on Monday, October 6th. Barclays reaffirmed an “overweight” rating and set a $201.00 price target (down previously from $212.00) on shares of Intercontinental Exchange in a report on Wednesday, October 8th. Piper Sandler raised their price target on Intercontinental Exchange from $180.00 to $202.00 and gave the company an “overweight” rating in a report on Tuesday, July 15th. Finally, Raymond James Financial raised Intercontinental Exchange from an “outperform” rating to a “strong-buy” rating and set a $210.00 price target for the company in a report on Monday, October 13th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Intercontinental Exchange currently has a consensus rating of “Moderate Buy” and an average target price of $198.60.

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.