Guinness Atkinson Asset Management Inc Trims Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Guinness Atkinson Asset Management Inc reduced its stake in Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) by 6.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 44,480 shares of the financial services provider's stock after selling 3,090 shares during the quarter. Intercontinental Exchange comprises about 3.4% of Guinness Atkinson Asset Management Inc's portfolio, making the stock its 15th largest holding. Guinness Atkinson Asset Management Inc's holdings in Intercontinental Exchange were worth $6,628,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of ICE. State Street Corp raised its holdings in shares of Intercontinental Exchange by 1.2% in the third quarter. State Street Corp now owns 23,651,598 shares of the financial services provider's stock worth $3,799,393,000 after buying an additional 281,503 shares during the last quarter. Geode Capital Management LLC raised its stake in 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 during the last quarter. FMR LLC lifted its position 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 worth $1,260,449,000 after acquiring an additional 2,401,630 shares during the period. 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 purchasing an additional 299,037 shares during the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of Intercontinental Exchange by 8.0% in the third quarter. Franklin Resources Inc. now owns 5,265,020 shares of the financial services provider's stock worth $865,455,000 after purchasing an additional 390,332 shares during the last quarter. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Intercontinental Exchange Price Performance

Shares of Intercontinental Exchange stock traded down $1.16 on Monday, reaching $149.07. The company's stock had a trading volume of 3,301,963 shares, compared to its average volume of 2,416,945. 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 company has a market capitalization of $85.59 billion, a P/E ratio of 35.33, a PEG ratio of 2.29 and a beta of 1.10. The stock has a 50-day moving average price of $153.20 and a 200-day moving average price of $155.73. Intercontinental Exchange, Inc. has a 52-week low of $124.34 and a 52-week high of $167.99.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The financial services provider reported $1.55 EPS for the quarter, hitting the consensus estimate of $1.55. The company had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.35 billion. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The firm's revenue was up 17.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.46 EPS. Analysts expect that Intercontinental Exchange, Inc. will post 6.06 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on ICE shares. StockNews.com lowered Intercontinental Exchange from a "hold" rating to a "sell" rating in a research report on Wednesday, January 8th. 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 report on Tuesday, October 8th. Bank of America raised their target price on shares of Intercontinental Exchange from $168.00 to $175.00 and gave the stock a "buy" rating in a report on Thursday, October 3rd. Barclays lowered their price target on shares of Intercontinental Exchange from $187.00 to $179.00 and set an "overweight" rating on the stock in a report on Monday, January 13th. Finally, Morgan Stanley lifted their price objective on Intercontinental Exchange from $160.00 to $174.00 and gave the company an "equal weight" rating in a research note on Thursday, October 17th. One analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $175.27.

Insider Buying and Selling

In related news, insider Christopher Scott Edmonds sold 601 shares of the business's stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $147.73, for a total transaction of $88,785.73. Following the completion of the sale, the insider now directly owns 12,922 shares in the company, valued at approximately $1,908,967.06. The trade was a 4.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Stuart Glen Williams sold 750 shares of the firm's stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $152.99, for a total value of $114,742.50. Following the completion of the transaction, the chief operating officer now owns 12,780 shares in the company, valued at $1,955,212.20. The trade was a 5.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 13,795 shares of company stock worth $2,120,572 in the last 90 days. 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.