Strategy Asset Managers LLC Sells 6,646 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Strategy Asset Managers LLC reduced its stake in Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) by 13.6% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 42,165 shares of the financial services provider's stock after selling 6,646 shares during the quarter. Intercontinental Exchange makes up 1.3% of Strategy Asset Managers LLC's investment portfolio, making the stock its 23rd largest holding. Strategy Asset Managers LLC's holdings in Intercontinental Exchange were worth $6,773,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of ICE. Wolff Wiese Magana LLC boosted its position in Intercontinental Exchange by 1,470.0% during the third quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 147 shares during the last quarter. Northwest Investment Counselors LLC bought a new position in shares of Intercontinental Exchange in the 3rd quarter valued at $26,000. Financial Management Professionals Inc. lifted its stake in shares of Intercontinental Exchange by 106.1% in the 3rd quarter. Financial Management Professionals Inc. now owns 169 shares of the financial services provider's stock valued at $27,000 after acquiring an additional 87 shares during the last quarter. Fairscale Capital LLC bought a new stake in shares of Intercontinental Exchange in the second quarter worth $25,000. Finally, Capital Performance Advisors LLP acquired a new position in shares of Intercontinental Exchange in the 3rd quarter worth approximately $29,000. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, CAO James W. Namkung sold 1,171 shares of the business's stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $160.00, for a total transaction of $187,360.00. Following the sale, the chief accounting officer now directly owns 16,665 shares of the company's stock, valued at $2,666,400. The trade was a 6.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Martha A. Tirinnanzi sold 509 shares of Intercontinental Exchange stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $158.98, for a total value of $80,920.82. Following the sale, the director now owns 3,958 shares of the company's stock, valued at approximately $629,242.84. This represents a 11.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,489 shares of company stock valued at $1,202,259. 1.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

ICE has been the subject of a number of recent research reports. Piper Sandler boosted their price target 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. Barclays decreased their price target on shares of Intercontinental Exchange from $179.00 to $173.00 and set an "overweight" rating for the company in a research note on Friday, November 1st. The Goldman Sachs Group boosted their target price on shares of Intercontinental Exchange from $171.00 to $185.00 and gave the company a "buy" rating in a report on Thursday, October 3rd. Raymond James lowered shares of Intercontinental Exchange from a "strong-buy" rating to an "outperform" rating and set a $185.00 target price on the stock. in a report on Monday, October 14th. Finally, Bank of America upped their price objective on shares of Intercontinental Exchange from $168.00 to $175.00 and gave the stock a "buy" rating in a research report on Thursday, October 3rd. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $174.13.

Intercontinental Exchange Stock Performance

Shares of NYSE:ICE traded down $2.01 during trading on Wednesday, hitting $155.92. The stock had a trading volume of 603,075 shares, compared to its average volume of 2,568,519. The stock has a market capitalization of $89.53 billion, a price-to-earnings ratio of 37.42, a price-to-earnings-growth ratio of 2.57 and a beta of 1.08. The stock has a 50-day simple moving average of $160.81 and a two-hundred day simple moving average of $150.63. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.68. Intercontinental Exchange, Inc. has a 12-month low of $111.82 and a 12-month high of $167.99.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, hitting analysts' consensus estimates of $1.55. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The business had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same quarter in the prior year, the company earned $1.46 earnings per share. The company's revenue was up 17.3% on a year-over-year basis. On average, equities 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.