Intercontinental Exchange Inc. $ICE Stock: Crescent Grove Advisors LLC Decreases Stake

Crescent Grove Advisors LLC lessened its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 19.7% in the third quarter, HoldingsChannel.com reports. The firm owned 102,227 shares of the financial services provider’s stock after selling 25,136 shares during the period. Intercontinental Exchange comprises 1.3% of Crescent Grove Advisors LLC’s holdings, making the stock its 17th largest position. Crescent Grove Advisors LLC’s holdings in Intercontinental Exchange were worth $15,542,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in ICE. Rakuten Securities Inc. bought a new stake in Intercontinental Exchange during the 2nd quarter worth approximately $26,000. Gables Capital Management Inc. bought a new stake in shares of Intercontinental Exchange in the 2nd quarter worth $31,000. James T. Borello RIA raised its holdings in shares of Intercontinental Exchange by 143.0% in the third quarter. James T. Borello RIA now owns 209 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 123 shares during the last quarter. Fiduciary Financial Advisors purchased a new position in Intercontinental Exchange during the second quarter worth about $33,000. Finally, Clearstead Trust LLC bought a new stake in Intercontinental Exchange in the 2nd quarter worth about $37,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Intercontinental Exchange Price Performance

Shares of Intercontinental Exchange stock opened at $157.63 on Thursday. The stock has a market capitalization of $88.49 billion, a P/E ratio of 22.26, a price-to-earnings-growth ratio of 1.46 and a beta of 0.94. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01. The business’s 50 day simple moving average is $156.93 and its two-hundred day simple moving average is $150.80. Intercontinental Exchange Inc. has a one year low of $121.79 and a one year high of $176.05.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, July 30th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.06. Intercontinental Exchange had a return on equity of 14.95% and a net margin of 30.08%. The company had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $2.63 billion. During the same period last year, the firm earned $1.81 earnings per share. Intercontinental Exchange’s quarterly revenue was up 4.8% on a year-over-year basis. Analysts forecast that Intercontinental Exchange Inc. will post 8.20 EPS for the current year.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, Director Martha A. Tirinnanzi sold 1,340 shares of the firm’s stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $161.16, for a total transaction of $215,954.40. Following the completion of the transaction, the director owned 3,747 shares of the company’s stock, valued at approximately $603,866.52. This trade represents a 26.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Christopher Edmonds sold 5,000 shares of the company’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $160.59, for a total transaction of $802,950.00. Following the completion of the sale, the insider directly owned 14,367 shares in the company, valued at $2,307,196.53. This represents a 25.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 41,179 shares of company stock worth $6,473,715. 0.84% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Keefe, Bruyette & Woods restated an “outperform” rating on shares of Intercontinental Exchange in a research note on Wednesday, October 7th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $178.00 target price (up from $169.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. Jefferies Financial Group lowered their price objective on Intercontinental Exchange from $189.00 to $185.00 in a research note on Wednesday, October 7th. Rothschild & Co Redburn raised their price target on Intercontinental Exchange from $173.00 to $181.00 and gave the stock a “buy” rating in a report on Thursday, September 10th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $195.00 target price (up from $190.00) on shares of Intercontinental Exchange in a report on Friday, October 2nd. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $186.31.

Intercontinental Exchange Profile

Intercontinental Exchange, Inc (NYSE:ICE) is a global operator of exchanges, clearinghouses, data services and technology platforms. The company owns and operates the New York Stock Exchange and other exchanges serving equity, options, futures and over-the-counter markets. Its marketplaces support trading in areas including energy, agricultural commodities, interest rates, currencies, equity indexes and individual stocks.

ICE also provides clearing and settlement services that help manage counterparty and transaction risk, along with market data, analytics, connectivity and other technology solutions for financial institutions and businesses.