Intercontinental Exchange, Inc. (NYSE:ICE) Stake Trimmed by Second Half Financial Partners LLC

Second Half Financial Partners LLC cut its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) by 28.2% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 17,054 shares of the financial services provider's stock after selling 6,709 shares during the period. Intercontinental Exchange makes up approximately 1.5% of Second Half Financial Partners LLC's holdings, making the stock its 26th largest holding. Second Half Financial Partners LLC's holdings in Intercontinental Exchange were worth $2,740,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. New Millennium Group LLC purchased a new position in Intercontinental Exchange in the second quarter valued at about $25,000. International Assets Investment Management LLC acquired a new position in shares of Intercontinental Exchange in the 2nd quarter valued at approximately $25,000. Fairscale Capital LLC bought a new position in Intercontinental Exchange during the 2nd quarter valued at $25,000. Wolff Wiese Magana LLC grew its holdings in Intercontinental Exchange by 1,470.0% during the 3rd quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider's stock worth $25,000 after acquiring an additional 147 shares in the last quarter. Finally, Northwest Investment Counselors LLC bought a new stake in shares of Intercontinental Exchange in the 3rd quarter worth about $26,000. Hedge funds and other institutional investors own 89.30% of the company's stock.

Insiders Place Their Bets

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the company's stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $159.57, for a total value of $326,799.36. Following the completion of the sale, the general counsel now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Christopher Scott Edmonds sold 602 shares of the firm's stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total transaction of $98,011.62. Following the transaction, the insider now owns 14,034 shares of the company's stock, valued at approximately $2,284,875.54. This trade represents a 4.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,489 shares of company stock worth $1,202,259 over the last ninety days. Company insiders own 1.10% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ICE. Raymond James cut Intercontinental Exchange from a "strong-buy" rating to an "outperform" rating and set a $185.00 price objective on the stock. in a research note on Monday, October 14th. Piper Sandler upped their price target on Intercontinental Exchange from $170.00 to $180.00 and gave the company an "overweight" rating in a research report on Tuesday, October 8th. Bank of America lifted their price objective 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. StockNews.com raised shares of Intercontinental Exchange from a "sell" rating to a "hold" rating in a report on Tuesday, November 12th. Finally, Keefe, Bruyette & Woods reaffirmed an "outperform" rating and issued a $168.00 price target on shares of Intercontinental Exchange in a report on Tuesday, August 6th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $174.13.

Intercontinental Exchange Stock Performance

Shares of NYSE ICE traded up $0.24 during midday trading on Tuesday, reaching $157.93. 2,847,512 shares of the company traded hands, compared to its average volume of 2,577,285. The company has a market cap of $90.68 billion, a price-to-earnings ratio of 37.37, a PEG ratio of 2.57 and a beta of 1.08. The stock has a 50-day moving average price of $160.89 and a 200 day moving average price of $150.44. Intercontinental Exchange, Inc. has a 52 week low of $110.64 and a 52 week high of $167.99. 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 (NYSE:ICE - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The financial services provider reported $1.55 EPS for the quarter, hitting analysts' consensus estimates of $1.55. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The company had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same period in the previous year, the firm earned $1.46 EPS. Intercontinental Exchange's revenue was up 17.3% on a year-over-year basis. Sell-side analysts anticipate that Intercontinental Exchange, Inc. will post 6.07 earnings per share for the current fiscal year.

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.