Intercontinental Exchange, Inc. (NYSE:ICE) Shares Sold by SeaBridge Investment Advisors LLC

SeaBridge Investment Advisors LLC lowered its position in Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) by 6.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 29,735 shares of the financial services provider's stock after selling 1,963 shares during the quarter. SeaBridge Investment Advisors LLC's holdings in Intercontinental Exchange were worth $4,431,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Intercontinental Exchange by 1.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 35,151 shares of the financial services provider's stock worth $5,647,000 after buying an additional 366 shares during the last quarter. M&T Bank Corp grew its position in Intercontinental Exchange by 33.2% in the third quarter. M&T Bank Corp now owns 46,689 shares of the financial services provider's stock worth $7,500,000 after acquiring an additional 11,648 shares during the period. Dixon Mitchell Investment Counsel Inc. increased its stake in Intercontinental Exchange by 9.2% during the fourth quarter. Dixon Mitchell Investment Counsel Inc. now owns 728,133 shares of the financial services provider's stock worth $108,515,000 after acquiring an additional 61,110 shares during the last quarter. Toronto Dominion Bank raised its position in Intercontinental Exchange by 1.6% in the third quarter. Toronto Dominion Bank now owns 310,560 shares of the financial services provider's stock valued at $49,888,000 after purchasing an additional 4,973 shares during the period. Finally, Bright Rock Capital Management LLC acquired a new position in shares of Intercontinental Exchange in the 4th quarter valued at $4,470,000. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Intercontinental Exchange Stock Up 0.2 %

Shares of ICE traded up $0.38 during midday trading on Friday, reaching $159.82. The stock had a trading volume of 2,624,045 shares, compared to its average volume of 2,960,229. The company has a market cap of $91.77 billion, a price-to-earnings ratio of 37.87, a PEG ratio of 3.01 and a beta of 1.10. The company's fifty day simple moving average is $153.12 and its two-hundred day simple moving average is $156.49. Intercontinental Exchange, Inc. has a 1-year low of $124.34 and a 1-year 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 posted its quarterly earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, meeting analysts' consensus estimates of $1.55. The company had revenue of $2.35 billion for the quarter, compared to analysts' expectations of $2.35 billion. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. Intercontinental Exchange's quarterly revenue was up 17.3% on a year-over-year basis. During the same period last year, the firm earned $1.46 earnings per share. Equities research analysts expect that Intercontinental Exchange, Inc. will post 6.05 earnings per share for the current year.

Insider Transactions at Intercontinental Exchange

In related news, insider Christopher Scott Edmonds sold 601 shares of the stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $147.73, for a total value of $88,785.73. Following the transaction, the insider now directly owns 12,922 shares of the company's stock, valued at $1,908,967.06. This trade represents a 4.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Benjamin Jackson sold 5,828 shares of the business's stock in a transaction on Monday, November 25th. The shares were sold at an average price of $160.00, for a total transaction of $932,480.00. Following the completion of the sale, the president now directly owns 156,163 shares of the company's stock, 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 90 days, insiders have sold 13,795 shares of company stock valued at $2,120,572. Corporate insiders own 1.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft upped their target price on shares of Intercontinental Exchange from $160.00 to $163.00 and gave the company a "hold" rating in a research report on Monday, November 11th. Raymond James cut shares of Intercontinental Exchange from a "strong-buy" rating to an "outperform" rating and set a $185.00 price objective for the company. in a research report on Monday, October 14th. Royal Bank of Canada reiterated an "outperform" rating and issued a $200.00 target price on shares of Intercontinental Exchange in a report on Tuesday, January 7th. Morgan Stanley upped their price target on Intercontinental Exchange from $160.00 to $174.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 17th. Finally, Piper Sandler lifted their price objective on Intercontinental Exchange from $170.00 to $180.00 and gave the company an "overweight" rating in a research note on Tuesday, October 8th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $175.27.

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.