Allspring Global Investments Holdings LLC Has $141.62 Million Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Allspring Global Investments Holdings LLC lessened its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) by 8.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 881,596 shares of the financial services provider's stock after selling 85,710 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.15% of Intercontinental Exchange worth $141,620,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rede Wealth LLC acquired a new position in shares of Intercontinental Exchange in the 3rd quarter valued at about $219,000. Cyndeo Wealth Partners LLC purchased a new position in Intercontinental Exchange in the third quarter valued at approximately $266,000. Werba Rubin Papier Wealth Management acquired a new position in Intercontinental Exchange during the third quarter valued at approximately $200,000. Resonant Capital Advisors LLC lifted its position in Intercontinental Exchange by 2.9% during the third quarter. Resonant Capital Advisors LLC now owns 2,982 shares of the financial services provider's stock valued at $479,000 after buying an additional 84 shares in the last quarter. Finally, Veracity Capital LLC grew its stake in Intercontinental Exchange by 3.4% during the third quarter. Veracity Capital LLC now owns 2,206 shares of the financial services provider's stock worth $354,000 after buying an additional 72 shares during the period. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ICE has been the topic of several recent research reports. Morgan Stanley lifted their target price on shares of Intercontinental Exchange from $160.00 to $174.00 and gave the company an "equal weight" rating in a report on Thursday. Keefe, Bruyette & Woods reaffirmed an "outperform" rating and issued a $168.00 target price on shares of Intercontinental Exchange in a research report on Tuesday, August 6th. TD Cowen began coverage on Intercontinental Exchange in a report on Thursday, September 26th. They set a "buy" rating and a $182.00 target price on the stock. Royal Bank of Canada restated an "outperform" rating and issued a $200.00 price target on shares of Intercontinental Exchange in a report on Friday, October 4th. Finally, Citigroup lifted their price objective on shares of Intercontinental Exchange from $160.00 to $162.00 and gave the company a "buy" rating in a research note on Tuesday, July 9th. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $172.80.

Insiders Place Their Bets

In related news, CFO Warren Gardiner sold 750 shares of the business's stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $161.43, for a total transaction of $121,072.50. Following the sale, the chief financial officer now owns 16,576 shares of the company's stock, valued at $2,675,863.68. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the company's stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $159.57, for a total transaction 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 $7,159,108.05. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Warren Gardiner sold 750 shares of the business's stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $161.43, for a total value of $121,072.50. Following the sale, the chief financial officer now owns 16,576 shares in the company, valued at approximately $2,675,863.68. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,532 shares of company stock worth $1,358,709. 1.10% of the stock is owned by corporate insiders.

Intercontinental Exchange Stock Performance

ICE stock traded up $2.02 during mid-day trading on Friday, reaching $166.83. The company had a trading volume of 2,310,759 shares, compared to its average volume of 2,482,702. Intercontinental Exchange, Inc. has a one year low of $104.49 and a one year high of $167.23. The stock has a market capitalization of $95.69 billion, a P/E ratio of 38.26, a P/E/G ratio of 2.62 and a beta of 1.08. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.69. The stock's 50-day simple moving average is $160.55 and its two-hundred day simple moving average is $146.32.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last released its quarterly earnings results on Thursday, August 1st. The financial services provider reported $1.52 earnings per share for the quarter, beating analysts' consensus estimates of $1.49 by $0.03. Intercontinental Exchange had a return on equity of 12.70% and a net margin of 21.43%. The company had revenue of $2.32 billion for the quarter, compared to analysts' expectations of $2.31 billion. During the same quarter in the previous year, the company posted $1.43 earnings per share. The business's revenue for the quarter was up 22.7% compared to the same quarter last year. Research analysts anticipate that Intercontinental Exchange, Inc. will post 6.08 EPS for the current 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.