Sumitomo Mitsui Trust Group Inc. Sells 222,423 Shares of Intercontinental Exchange Inc. $ICE

Sumitomo Mitsui Trust Group Inc. lowered its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 10.6% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,868,957 shares of the financial services provider’s stock after selling 222,423 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Intercontinental Exchange were worth $293,950,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of ICE. Vanguard Group Inc. grew its position in Intercontinental Exchange by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 54,153,170 shares of the financial services provider’s stock worth $8,770,647,000 after purchasing an additional 413,639 shares during the last quarter. J. Stern & Co. LLP raised its position in shares of Intercontinental Exchange by 17,398.1% during the fourth quarter. J. Stern & Co. LLP now owns 54,107,273 shares of the financial services provider’s stock valued at $8,763,214,000 after buying an additional 53,798,055 shares during the last quarter. State Street Corp lifted its stake in shares of Intercontinental Exchange by 3.4% in the fourth quarter. State Street Corp now owns 25,653,952 shares of the financial services provider’s stock valued at $4,154,914,000 after buying an additional 837,208 shares during the period. Morgan Stanley lifted its stake in shares of Intercontinental Exchange by 1.0% in the fourth quarter. Morgan Stanley now owns 15,875,593 shares of the financial services provider’s stock valued at $2,571,212,000 after buying an additional 158,450 shares during the period. Finally, Wellington Management Group LLP grew its position in Intercontinental Exchange by 64.7% during the third quarter. Wellington Management Group LLP now owns 10,354,224 shares of the financial services provider’s stock worth $1,744,480,000 after buying an additional 4,067,922 shares in the last quarter. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Intercontinental Exchange Stock Up 0.5%

NYSE ICE opened at $137.10 on Thursday. Intercontinental Exchange Inc. has a 1-year low of $121.79 and a 1-year high of $189.35. The company has a market capitalization of $77.53 billion, a price-to-earnings ratio of 19.96, a PEG ratio of 1.28 and a beta of 0.94. The stock’s 50 day moving average is $143.33 and its two-hundred day moving average is $155.91. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.23 by $0.12. The business had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $2.88 billion. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.Intercontinental Exchange’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.72 EPS. Equities analysts forecast that Intercontinental Exchange Inc. will post 8.35 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. UBS Group cut their price target on Intercontinental Exchange from $205.00 to $190.00 and set a “buy” rating for the company in a report on Tuesday. The Goldman Sachs Group cut their target price on Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating for the company in a research note on Tuesday, June 30th. TD Cowen reduced their target price on Intercontinental Exchange from $193.00 to $153.00 and set a “buy” rating for the company in a research report on Monday, June 22nd. Keefe, Bruyette & Woods began coverage on shares of Intercontinental Exchange in a research note on Wednesday, April 8th. They set an “outperform” rating and a $190.00 price target on the stock. Finally, Piper Sandler reissued an “overweight” rating and issued a $211.00 price target (up from $195.00) on shares of Intercontinental Exchange in a report on Wednesday, April 15th. 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. According to data from MarketBeat, Intercontinental Exchange has an average rating of “Moderate Buy” and a consensus price target of $187.08.

Insider Transactions at Intercontinental Exchange

In other news, Director Sharon Bowen sold 667 shares of the business’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $151.28, for a total value of $100,903.76. Following the sale, the director owned 15,077 shares in the company, valued at approximately $2,280,848.56. The trade was a 4.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Warren Gardiner sold 2,490 shares of the company’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $156.64, for a total transaction of $390,033.60. Following the completion of the sale, the chief financial officer directly owned 25,189 shares in the company, valued at approximately $3,945,604.96. The trade was a 9.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 13,425 shares of company stock valued at $2,046,324. 0.84% of the stock is owned by insiders.

Intercontinental Exchange 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.