Portfolio Design Labs LLC Decreases Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

Portfolio Design Labs LLC cut its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 14.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,036 shares of the financial services provider’s stock after selling 1,158 shares during the quarter. Portfolio Design Labs LLC’s holdings in Intercontinental Exchange were worth $1,130,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. lifted its stake in shares of Intercontinental Exchange by 6.1% during the 3rd quarter. First Horizon Advisors Inc. now owns 4,406 shares of the financial services provider’s stock valued at $708,000 after buying an additional 254 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Intercontinental Exchange by 145.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 260,996 shares of the financial services provider’s stock valued at $41,926,000 after acquiring an additional 154,816 shares during the period. Kirtland Hills Capital Management LLC lifted its position in shares of Intercontinental Exchange by 1.5% during the third quarter. Kirtland Hills Capital Management LLC now owns 14,112 shares of the financial services provider’s stock worth $2,267,000 after acquiring an additional 213 shares in the last quarter. Commerce Bank boosted its holdings in shares of Intercontinental Exchange by 1.3% in the third quarter. Commerce Bank now owns 23,970 shares of the financial services provider’s stock worth $3,851,000 after acquiring an additional 300 shares during the period. Finally, Prospera Private Wealth LLC purchased a new position in shares of Intercontinental Exchange in the third quarter valued at $3,586,000. Institutional investors own 89.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ICE. Piper Sandler increased their price objective on Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Intercontinental Exchange from $160.00 to $163.00 and gave the company a “hold” rating in a research report on Monday, November 11th. The Goldman Sachs Group boosted their price objective on shares of Intercontinental Exchange from $171.00 to $185.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Raymond James cut shares of Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 target price on the stock. in a research note on Monday, October 14th. Finally, TD Cowen initiated coverage on shares of Intercontinental Exchange in a research report on Thursday, September 26th. They set a “buy” rating and a $182.00 price target for the company. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $174.13.

Intercontinental Exchange Stock Up 0.2 %

Shares of Intercontinental Exchange stock opened at $157.93 on Wednesday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.00 and a current ratio of 1.00. Intercontinental Exchange, Inc. has a 52-week low of $110.64 and a 52-week high of $167.99. The company’s 50 day moving average price is $160.81 and its 200-day moving average price is $150.63. The stock has a market capitalization of $90.68 billion, a price-to-earnings ratio of 37.42, a P/E/G ratio of 2.57 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, October 31st. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.55. The firm had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.35 billion. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The company’s revenue for the quarter was up 17.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.46 earnings per share. Equities research analysts forecast that Intercontinental Exchange, Inc. will post 6.07 EPS for the current year.

Insider Activity at Intercontinental Exchange

In other news, CAO James W. Namkung sold 1,171 shares of Intercontinental Exchange stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $160.00, for a total value of $187,360.00. Following the sale, the chief accounting officer now directly owns 16,665 shares in the company, valued at approximately $2,666,400. This trade represents a 6.57 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 2,048 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $159.57, for a total value of $326,799.36. Following the transaction, the general counsel now owns 44,865 shares of the company’s stock, valued at approximately $7,159,108.05. This represents a 4.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,489 shares of company stock worth $1,202,259 in the last 90 days. Company insiders own 1.10% of the company’s stock.

Intercontinental Exchange 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.