Segment Wealth Management LLC Grows Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

Segment Wealth Management LLC increased its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 0.9% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 49,475 shares of the financial services provider’s stock after acquiring an additional 432 shares during the period. Segment Wealth Management LLC’s holdings in Intercontinental Exchange were worth $7,948,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Intercontinental Exchange by 7.5% during the 1st quarter. Vanguard Group Inc. now owns 50,776,525 shares of the financial services provider’s stock worth $6,978,218,000 after buying an additional 3,536,913 shares during the last quarter. CCLA Investment Management raised its position in Intercontinental Exchange by 91,838.2% during the first quarter. CCLA Investment Management now owns 1,114,291 shares of the financial services provider’s stock worth $152,923,000 after acquiring an additional 1,113,079 shares during the last quarter. Manning & Napier Advisors LLC purchased a new stake in shares of Intercontinental Exchange in the second quarter valued at about $124,508,000. Janus Henderson Group PLC grew its position in shares of Intercontinental Exchange by 589.4% in the first quarter. Janus Henderson Group PLC now owns 804,507 shares of the financial services provider’s stock valued at $110,559,000 after purchasing an additional 687,817 shares during the last quarter. Finally, James Hambro & Partners purchased a new position in shares of Intercontinental Exchange during the 2nd quarter worth approximately $93,340,000. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Intercontinental Exchange Stock Down 0.2 %

Shares of ICE opened at $165.94 on Wednesday. Intercontinental Exchange, Inc. has a fifty-two week low of $104.49 and a fifty-two week high of $167.23. The company’s fifty day moving average is $161.03 and its two-hundred day moving average is $146.73. The firm has a market cap of $95.18 billion, a PE ratio of 38.06, a price-to-earnings-growth ratio of 2.62 and a beta of 1.08. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.69.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, August 1st. The financial services provider reported $1.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.03. The firm had revenue of $2.32 billion for the quarter, compared to analysts’ expectations of $2.31 billion. Intercontinental Exchange had a return on equity of 12.70% and a net margin of 21.43%. The firm’s revenue for the quarter was up 22.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.43 earnings per share. Analysts forecast that Intercontinental Exchange, Inc. will post 6.08 earnings per share for the current year.

Insider Transactions at Intercontinental Exchange

In related news, CAO James W. Namkung sold 1,043 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $150.00, for a total value of $156,450.00. Following the transaction, the chief accounting officer now owns 17,836 shares in the company, valued at approximately $2,675,400. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CFO Warren Gardiner sold 750 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $161.43, for a total transaction of $121,072.50. Following the completion of the sale, the chief financial officer now directly owns 16,576 shares of the company’s stock, valued at approximately $2,675,863.68. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO James W. Namkung sold 1,043 shares of the stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $150.00, for a total value of $156,450.00. Following the completion of the sale, the chief accounting officer now owns 17,836 shares of the company’s stock, valued at approximately $2,675,400. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,532 shares of company stock worth $1,358,709. 1.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

ICE has been the topic of a number of recent research reports. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $168.00 target price on shares of Intercontinental Exchange in a research note on Tuesday, August 6th. Piper Sandler upped their price objective on Intercontinental Exchange from $170.00 to $180.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft lifted their price objective on Intercontinental Exchange from $152.00 to $154.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. Citigroup upped their target price on shares of Intercontinental Exchange from $160.00 to $162.00 and gave the company a “buy” rating in a report on Tuesday, July 9th. Finally, Morgan Stanley lifted their price target on shares of Intercontinental Exchange from $160.00 to $174.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $172.80.

About Intercontinental Exchange

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.