SVB Wealth LLC Sells 4,225 Shares of Intercontinental Exchange Inc. $ICE

SVB Wealth LLC decreased its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 10.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,888 shares of the financial services provider’s stock after selling 4,225 shares during the period. SVB Wealth LLC’s holdings in Intercontinental Exchange were worth $5,813,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Dynasty Wealth Management LLC bought a new position in Intercontinental Exchange in the third quarter valued at about $897,000. Rockland Trust Co. lifted its holdings in shares of Intercontinental Exchange by 19.7% in the third quarter. Rockland Trust Co. now owns 127,652 shares of the financial services provider’s stock worth $21,507,000 after acquiring an additional 20,981 shares during the last quarter. Eastern Bank boosted its stake in shares of Intercontinental Exchange by 14.6% in the 3rd quarter. Eastern Bank now owns 203,731 shares of the financial services provider’s stock valued at $34,325,000 after purchasing an additional 25,980 shares in the last quarter. M&G PLC grew its holdings in shares of Intercontinental Exchange by 18.4% during the 3rd quarter. M&G PLC now owns 107,070 shares of the financial services provider’s stock valued at $17,988,000 after purchasing an additional 16,635 shares during the last quarter. Finally, McKinley Carter Wealth Services Inc. grew its holdings in shares of Intercontinental Exchange by 15.9% during the 3rd quarter. McKinley Carter Wealth Services Inc. now owns 31,506 shares of the financial services provider’s stock valued at $5,308,000 after purchasing an additional 4,333 shares during the last quarter. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Intercontinental Exchange Trading Down 0.0%

ICE opened at $155.76 on Monday. The company’s 50 day moving average price is $160.25 and its two-hundred day moving average price is $160.01. The firm has a market capitalization of $88.09 billion, a price-to-earnings ratio of 22.67, a PEG ratio of 1.44 and a beta of 0.96. Intercontinental Exchange Inc. has a fifty-two week low of $143.17 and a fifty-two week high of $189.35. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, April 30th. The financial services provider reported $2.35 EPS for the quarter, topping analysts’ consensus estimates of $2.23 by $0.12. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The company had revenue of $3.67 billion for the quarter, compared to analyst estimates of $2.88 billion. During the same quarter in the previous year, the business earned $1.72 earnings per share. Intercontinental Exchange’s revenue was up 20.4% compared to the same quarter last year. As a group, research analysts predict that Intercontinental Exchange Inc. will post 8.16 earnings per share for the current year.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, CTO Mayur Kapani sold 15,213 shares of Intercontinental Exchange stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $155.02, for a total transaction of $2,358,319.26. Following the transaction, the chief technology officer directly owned 64,869 shares of the company’s stock, valued at approximately $10,055,992.38. The trade was a 19.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the company’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $155.00, for a total value of $23,250,000.00. Following the completion of the sale, the chief executive officer owned 1,651,705 shares in the company, valued at $256,014,275. This trade represents a 8.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 343,696 shares of company stock worth $53,397,715 over the last 90 days. Company insiders own 0.84% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. TD Cowen reissued a “buy” rating on shares of Intercontinental Exchange in a research note on Friday, February 6th. Keefe, Bruyette & Woods began coverage on shares of Intercontinental Exchange in a report on Wednesday, April 8th. They set an “outperform” rating and a $190.00 price target for the company. Wall Street Zen upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. Morgan Stanley raised their price objective on Intercontinental Exchange from $183.00 to $187.00 and gave the company an “equal weight” rating in a report on Friday, April 10th. Finally, Piper Sandler restated an “overweight” rating and set a $211.00 price objective (up from $195.00) on shares of Intercontinental Exchange in a research report on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, Intercontinental Exchange currently has an average rating of “Buy” and an average price target of $194.10.

Intercontinental Exchange Company Profile

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.