Tandem Investment Advisors Inc. Cuts Holdings in Intercontinental Exchange Inc. $ICE

Tandem Investment Advisors Inc. reduced its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 3.8% in the 4th quarter, Holdings Channel reports. The firm owned 815,120 shares of the financial services provider’s stock after selling 32,398 shares during the period. Intercontinental Exchange accounts for approximately 4.9% of Tandem Investment Advisors Inc.’s holdings, making the stock its 2nd biggest position. Tandem Investment Advisors Inc.’s holdings in Intercontinental Exchange were worth $132,017,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Allstate Corp raised its holdings in Intercontinental Exchange by 105.9% in the 4th quarter. Allstate Corp now owns 43,145 shares of the financial services provider’s stock worth $6,988,000 after acquiring an additional 22,193 shares during the period. 44 Wealth Management LLC lifted its position in Intercontinental Exchange by 40.1% during the 4th quarter. 44 Wealth Management LLC now owns 14,608 shares of the financial services provider’s stock worth $2,366,000 after acquiring an additional 4,178 shares during the last quarter. CYBER HORNET ETFs LLC boosted its holdings in Intercontinental Exchange by 5.9% during the fourth quarter. CYBER HORNET ETFs LLC now owns 1,658 shares of the financial services provider’s stock valued at $269,000 after acquiring an additional 93 shares during the period. Clearstead Advisors LLC grew its position in shares of Intercontinental Exchange by 3.3% in the fourth quarter. Clearstead Advisors LLC now owns 127,303 shares of the financial services provider’s stock valued at $20,618,000 after purchasing an additional 4,075 shares during the last quarter. Finally, New Age Alpha Advisors LLC grew its position in shares of Intercontinental Exchange by 1,919.5% in the fourth quarter. New Age Alpha Advisors LLC now owns 4,039 shares of the financial services provider’s stock valued at $654,000 after purchasing an additional 3,839 shares during the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Intercontinental Exchange Trading Up 0.1%

Shares of ICE opened at $153.09 on Tuesday. The stock has a market cap of $86.58 billion, a PE ratio of 22.28, a PEG ratio of 1.41 and a beta of 0.96. The stock has a 50 day simple moving average of $158.22 and a 200-day simple moving average of $160.12. Intercontinental Exchange Inc. has a 1 year low of $143.17 and a 1 year high of $189.35. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, April 30th. The financial services provider reported $2.35 EPS for the quarter, beating the consensus estimate of $2.23 by $0.12. The company had revenue of $3.67 billion for 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 firm’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.72 EPS. On average, sell-side analysts predict that Intercontinental Exchange Inc. will post 8.15 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ICE has been the subject of several research analyst reports. Piper Sandler reissued an “overweight” rating and set a $211.00 price objective (up from $195.00) on shares of Intercontinental Exchange in a research report on Wednesday, April 15th. Wall Street Zen raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. Keefe, Bruyette & Woods started coverage on Intercontinental Exchange in a report on Wednesday, April 8th. They set an “outperform” rating and a $190.00 price target for the company. TD Cowen restated a “buy” rating on shares of Intercontinental Exchange in a research note on Friday, February 6th. Finally, Weiss Ratings lowered shares of Intercontinental Exchange from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $194.60.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, CFO Warren Gardiner sold 2,490 shares of the firm’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $156.64, for a total transaction of $390,033.60. Following the transaction, the chief financial officer owned 25,189 shares in the company, valued at approximately $3,945,604.96. This trade represents a 9.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 dated Thursday, February 26th. The stock was sold at an average price of $162.00, for a total value of $740,502.00. Following the transaction, the general counsel owned 48,181 shares of the company’s stock, valued at $7,805,322. The trade was a 8.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 11,332 shares of company stock worth $1,794,334. Corporate insiders own 0.84% of the company’s stock.

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.