Phillips Wealth Planners LLC Trims Stock Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Phillips Wealth Planners LLC reduced its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 49.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,054 shares of the financial services provider’s stock after selling 2,043 shares during the quarter. Phillips Wealth Planners LLC’s holdings in Intercontinental Exchange were worth $293,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wolff Wiese Magana LLC lifted its position in shares of Intercontinental Exchange by 1,470.0% in the third quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 147 shares in the last quarter. Northwest Investment Counselors LLC purchased a new stake in shares of Intercontinental Exchange in the third quarter valued at $26,000. Financial Management Professionals Inc. lifted its position in shares of Intercontinental Exchange by 106.1% in the third quarter. Financial Management Professionals Inc. now owns 169 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 87 shares in the last quarter. Capital Performance Advisors LLP purchased a new stake in shares of Intercontinental Exchange in the third quarter valued at $29,000. Finally, FSA Wealth Management LLC purchased a new stake in shares of Intercontinental Exchange in the third quarter valued at $31,000. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ICE has been the subject of several analyst reports. TD Cowen initiated coverage on Intercontinental Exchange in a research note on Thursday, September 26th. They issued a “buy” rating and a $182.00 target price for the company. The Goldman Sachs Group upped their target price on Intercontinental Exchange from $171.00 to $185.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Keefe, Bruyette & Woods dropped their target price on Intercontinental Exchange from $183.00 to $178.00 and set an “outperform” rating for the company in a research note on Monday, January 13th. Piper Sandler upped their target price on Intercontinental Exchange from $170.00 to $180.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Finally, Barclays dropped their target price on Intercontinental Exchange from $187.00 to $179.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $175.27.

Insider Transactions at Intercontinental Exchange

In related news, insider Christopher Scott Edmonds sold 601 shares of the stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $147.73, for a total value of $88,785.73. Following the completion of the transaction, the insider now owns 12,922 shares of the company’s stock, valued at approximately $1,908,967.06. This represents a 4.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, President Benjamin Jackson sold 5,828 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $160.00, for a total value of $932,480.00. Following the completion of the transaction, the president now directly owns 156,163 shares of the company’s stock, valued at $24,986,080. This represents a 3.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 13,795 shares of company stock valued at $2,120,572 over the last quarter. Company insiders own 1.10% of the company’s stock.

Intercontinental Exchange Price Performance

Shares of NYSE ICE opened at $154.11 on Thursday. Intercontinental Exchange, Inc. has a 1-year low of $124.34 and a 1-year high of $167.99. The business has a 50-day moving average of $152.96 and a 200-day moving average of $155.86. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.00 and a quick ratio of 1.00. The company has a market capitalization of $88.48 billion, a price-to-earnings ratio of 36.52, a PEG ratio of 2.90 and a beta of 1.10.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, hitting the consensus estimate of $1.55. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The company had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter in the prior year, the business earned $1.46 earnings per share. The company’s revenue was up 17.3% compared to the same quarter last year. On average, equities analysts anticipate that Intercontinental Exchange, Inc. will post 6.05 EPS for the current fiscal year.

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.