TIAA Trust National Association Has $1.86 Million Position in Intercontinental Exchange Inc. $ICE

TIAA Trust National Association trimmed its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 14.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,159 shares of the financial services provider’s stock after selling 1,714 shares during the quarter. TIAA Trust National Association’s holdings in Intercontinental Exchange were worth $1,864,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Princeton Global Asset Management LLC acquired a new position in Intercontinental Exchange in the second quarter valued at approximately $28,000. Activest Wealth Management grew its position 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 shares of Intercontinental Exchange during the 1st quarter worth approximately $30,000. Hilltop National Bank acquired a new position in shares of Intercontinental Exchange during the 2nd quarter valued at $31,000. Finally, Accredited Wealth Management LLC acquired a new position in shares of Intercontinental Exchange during the 1st quarter valued at $33,000. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Price Performance

ICE stock opened at $145.55 on Tuesday. The company has a market capitalization of $83.32 billion, a P/E ratio of 27.94, a price-to-earnings-growth ratio of 2.11 and a beta of 1.08. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.01. Intercontinental Exchange Inc. has a 52-week low of $142.29 and a 52-week high of $189.35. The business has a 50-day simple moving average of $164.87 and a two-hundred day simple moving average of $173.52.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, October 30th. The financial services provider reported $1.71 EPS for the quarter, hitting the consensus estimate of $1.71. The firm had revenue of $2.41 billion during the quarter, compared to the consensus estimate of $2.49 billion. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.The company’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.55 earnings per share. Research analysts expect that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ICE has been the subject of a number of research reports. Keefe, Bruyette & Woods upgraded shares of Intercontinental Exchange to a “moderate buy” rating in a report on Monday, October 6th. Morgan Stanley reduced their target price on Intercontinental Exchange from $188.00 to $178.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 21st. Piper Sandler upped their price target on Intercontinental Exchange from $180.00 to $202.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 15th. Barclays set a $183.00 price target on Intercontinental Exchange and gave the stock an “overweight” rating in a research note on Friday. Finally, UBS Group reduced their price objective on Intercontinental Exchange from $215.00 to $200.00 and set a “buy” rating for the company in a research note on Friday. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $191.82.

Insiders Place Their Bets

In other Intercontinental Exchange news, Director Duriya M. Farooqui sold 2,036 shares of Intercontinental Exchange 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 transaction, the director directly owned 14,299 shares of the company’s stock, valued at $2,550,083.66. The trade was a 12.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Douglas Foley sold 1,600 shares of Intercontinental Exchange stock in a transaction on Friday, September 12th. The stock was sold at an average price of $175.62, for a total transaction of $280,992.00. Following the transaction, the senior vice president directly owned 25,796 shares in the company, valued at $4,530,293.52. This represents a 5.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 240,162 shares of company stock worth $43,642,652 in the last three months. 1.00% of the stock is owned by corporate insiders.

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.