Synovus Financial Corp Has $5.44 Million Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

Synovus Financial Corp raised its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 7.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 33,874 shares of the financial services provider’s stock after purchasing an additional 2,247 shares during the quarter. Synovus Financial Corp’s holdings in Intercontinental Exchange were worth $5,441,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. State Street Corp raised its position in Intercontinental Exchange by 1.2% in the 3rd quarter. State Street Corp now owns 23,651,598 shares of the financial services provider’s stock valued at $3,799,393,000 after buying an additional 281,503 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Intercontinental Exchange by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 11,555,615 shares of the financial services provider’s stock worth $1,848,868,000 after acquiring an additional 169,922 shares in the last quarter. FMR LLC raised its holdings in shares of Intercontinental Exchange by 44.1% in the third quarter. FMR LLC now owns 7,846,421 shares of the financial services provider’s stock valued at $1,260,449,000 after purchasing an additional 2,401,630 shares during the last quarter. Parnassus Investments LLC raised its holdings in shares of Intercontinental Exchange by 4.0% in the third quarter. Parnassus Investments LLC now owns 7,838,727 shares of the financial services provider’s stock valued at $1,259,213,000 after purchasing an additional 299,037 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its position in shares of Intercontinental Exchange by 326.3% during the third quarter. Janus Henderson Group PLC now owns 4,520,639 shares of the financial services provider’s stock valued at $726,196,000 after purchasing an additional 3,460,096 shares in the last quarter. Institutional investors own 89.30% of the company’s stock.

Wall Street Analysts Forecast Growth

ICE has been the subject of several analyst reports. The Goldman Sachs Group increased 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 downgraded Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 price target for the company. in a research report on Monday, October 14th. Piper Sandler boosted their price objective on Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. StockNews.com raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Thursday, December 5th. Finally, Morgan Stanley lifted their target price on Intercontinental Exchange from $160.00 to $174.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Three research 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 has a consensus rating of “Moderate Buy” and an average price target of $175.07.

Intercontinental Exchange Price Performance

Shares of NYSE:ICE opened at $155.58 on Friday. The company has a 50-day moving average price of $159.90 and a two-hundred day moving average price of $153.24. Intercontinental Exchange, Inc. has a twelve month low of $121.56 and a twelve month high of $167.99. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $89.33 billion, a PE ratio of 36.87, a P/E/G ratio of 2.61 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results 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 business 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 business’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 firm posted $1.46 EPS. Equities analysts forecast that Intercontinental Exchange, Inc. will post 6.07 EPS for the current year.

Insider Activity at Intercontinental Exchange

In related news, President Benjamin Jackson sold 5,828 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $160.00, for a total transaction of $932,480.00. Following the completion of the transaction, the president now owns 156,163 shares of the company’s stock, valued at approximately $24,986,080. The trade was a 3.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Stuart Glen Williams sold 468 shares of the stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $162.81, for a total transaction of $76,195.08. Following the completion of the sale, the chief operating officer now owns 13,530 shares in the company, valued at $2,202,819.30. This represents a 3.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,901 shares of company stock worth $1,582,542. 1.10% of the stock is owned by company insiders.

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.