Intercontinental Exchange Inc. $ICE Shares Sold by iA Global Asset Management Inc.

iA Global Asset Management Inc. decreased its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 2.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 183,238 shares of the financial services provider’s stock after selling 5,129 shares during the period. iA Global Asset Management Inc.’s holdings in Intercontinental Exchange were worth $29,677,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of ICE. Ares Financial Consulting LLC acquired a new position in shares of Intercontinental Exchange in the fourth quarter worth $25,000. Holos Integrated Wealth LLC acquired a new position in shares of Intercontinental Exchange in the fourth quarter worth $28,000. Steph & Co. grew its stake in shares of Intercontinental Exchange by 104.7% in the fourth quarter. Steph & Co. now owns 174 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 89 shares in the last quarter. Dorato Capital Management acquired a new position in shares of Intercontinental Exchange in the fourth quarter worth $29,000. Finally, Caitlin John LLC acquired a new position in shares of Intercontinental Exchange in the third quarter worth $32,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Intercontinental Exchange Stock Performance

Shares of ICE stock opened at $154.48 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63. The firm has a fifty day moving average price of $159.26 and a 200 day moving average price of $159.94. The company has a market cap of $87.36 billion, a P/E ratio of 22.49, a PEG ratio of 1.43 and a beta of 0.96. Intercontinental Exchange Inc. has a 12 month low of $143.17 and a 12 month high of $189.35.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, April 30th. The financial services provider reported $2.35 EPS for the quarter, topping analysts’ consensus estimates of $2.23 by $0.12. The firm had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $2.88 billion. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The company’s revenue was up 20.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.72 earnings per share. Sell-side analysts predict that Intercontinental Exchange Inc. will post 8.16 earnings per share for the current fiscal year.

Insider Activity

In related news, CTO Mayur Kapani sold 15,213 shares of the business’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $155.02, for a total transaction of $2,358,319.26. Following the completion of the transaction, the chief technology officer owned 64,869 shares in the company, valued at approximately $10,055,992.38. The trade was a 19.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 4,571 shares of the business’s stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $162.00, for a total transaction of $740,502.00. Following the completion of the sale, the general counsel directly owned 48,181 shares of the company’s stock, valued at approximately $7,805,322. This trade represents a 8.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 330,835 shares of company stock valued at $51,275,650. Insiders own 0.84% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on ICE. TD Cowen restated a “buy” rating on shares of Intercontinental Exchange in a research note on Friday, February 6th. Barclays restated an “overweight” rating and issued a $201.00 price target (up from $198.00) on shares of Intercontinental Exchange in a research note on Friday, May 1st. Piper Sandler restated an “overweight” rating and issued a $211.00 price target (up from $195.00) on shares of Intercontinental Exchange in a research note on Wednesday, April 15th. Morgan Stanley boosted their price target on shares of Intercontinental Exchange from $183.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Friday, April 10th. Finally, UBS Group restated a “buy” rating and issued a $200.00 price target on shares of Intercontinental Exchange in a research note on Monday, February 9th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $194.10.

About Intercontinental Exchange

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.