CCLA Investment Management Reduces Position in Intercontinental Exchange, Inc. (NYSE:ICE)

CCLA Investment Management lowered its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) by 11.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 936,010 shares of the financial services provider's stock after selling 123,069 shares during the period. Intercontinental Exchange comprises 2.2% of CCLA Investment Management's investment portfolio, making the stock its 12th biggest position. CCLA Investment Management owned about 0.16% of Intercontinental Exchange worth $139,474,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of ICE. State Street Corp grew its stake in Intercontinental Exchange by 1.2% during 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 acquiring an additional 281,503 shares in the last quarter. Geode Capital Management LLC grew its stake in Intercontinental Exchange by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 11,555,615 shares of the financial services provider's stock valued at $1,848,868,000 after acquiring an additional 169,922 shares in the last quarter. FMR LLC grew its stake in Intercontinental Exchange by 44.1% during the 3rd quarter. FMR LLC now owns 7,846,421 shares of the financial services provider's stock valued at $1,260,449,000 after acquiring an additional 2,401,630 shares in the last quarter. Parnassus Investments LLC grew its stake in Intercontinental Exchange by 4.0% during the 3rd quarter. Parnassus Investments LLC now owns 7,838,727 shares of the financial services provider's stock valued at $1,259,213,000 after acquiring an additional 299,037 shares in the last quarter. Finally, Franklin Resources Inc. grew its stake in Intercontinental Exchange by 8.0% during the 3rd quarter. Franklin Resources Inc. now owns 5,265,020 shares of the financial services provider's stock valued at $865,455,000 after acquiring an additional 390,332 shares in the last quarter. Hedge funds and other institutional investors own 89.30% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on ICE shares. Piper Sandler upped their price objective on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the company an "overweight" rating in a research note on Tuesday, October 8th. StockNews.com cut shares of Intercontinental Exchange from a "hold" rating to a "sell" rating in a research note on Wednesday, January 8th. TD Cowen assumed coverage on shares of Intercontinental Exchange in a report on Thursday, September 26th. They issued a "buy" rating and a $182.00 target price on the stock. JPMorgan Chase & Co. boosted their target price on shares of Intercontinental Exchange from $171.00 to $188.00 and gave the company an "overweight" rating in a report on Wednesday, October 23rd. Finally, Keefe, Bruyette & Woods decreased their target price on shares of Intercontinental Exchange from $183.00 to $178.00 and set an "outperform" rating on the stock in a report on Monday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat.com, Intercontinental Exchange has a consensus rating of "Moderate Buy" and a consensus price target of $175.20.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, COO Stuart Glen Williams sold 750 shares of the stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $152.99, for a total transaction of $114,742.50. Following the sale, the chief operating officer now directly owns 12,780 shares in the company, valued at $1,955,212.20. This represents a 5.54 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, President Benjamin Jackson sold 5,828 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $160.00, for a total transaction of $932,480.00. Following the sale, the president now owns 156,163 shares in the company, valued at approximately $24,986,080. This trade represents a 3.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,533 shares of company stock worth $1,196,279. 1.10% of the stock is currently owned by insiders.

Intercontinental Exchange Trading Up 2.0 %

Shares of ICE stock traded up $2.86 during trading hours on Wednesday, hitting $148.11. The company had a trading volume of 5,105,092 shares, compared to its average volume of 3,267,742. The company's fifty day moving average is $153.62 and its 200 day moving average is $155.53. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.00 and a quick ratio of 1.00. Intercontinental Exchange, Inc. has a fifty-two week low of $124.34 and a fifty-two week high of $167.99. The stock has a market capitalization of $85.04 billion, a PE ratio of 35.10, a price-to-earnings-growth ratio of 2.57 and a beta of 1.10.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The financial services provider reported $1.55 EPS for the quarter, hitting the consensus estimate of $1.55. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The firm had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same period in the prior year, the business posted $1.46 EPS. The business's revenue for the quarter was up 17.3% compared to the same quarter last year. Research analysts expect that Intercontinental Exchange, Inc. will post 6.07 earnings per share for the current fiscal year.

Intercontinental Exchange Company 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.