Intercontinental Exchange, Inc. (NYSE:ICE) Holdings Cut by Glenmede Trust Co. NA

Glenmede Trust Co. NA cut its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 40.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 199,661 shares of the financial services provider’s stock after selling 137,685 shares during the quarter. Glenmede Trust Co. NA’s holdings in Intercontinental Exchange were worth $32,074,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Soros Capital Management LLC increased its position in Intercontinental Exchange by 516.7% in the 3rd quarter. Soros Capital Management LLC now owns 120,583 shares of the financial services provider’s stock worth $19,370,000 after purchasing an additional 101,030 shares during the last quarter. Townsquare Capital LLC grew its stake in shares of Intercontinental Exchange by 43.8% in the 3rd quarter. Townsquare Capital LLC now owns 10,335 shares of the financial services provider’s stock valued at $1,660,000 after buying an additional 3,147 shares in the last quarter. Baldwin Investment Management LLC increased its holdings in Intercontinental Exchange by 0.7% in the third quarter. Baldwin Investment Management LLC now owns 13,527 shares of the financial services provider’s stock worth $2,173,000 after buying an additional 100 shares during the last quarter. Cadence Bank bought a new position in Intercontinental Exchange during the third quarter valued at approximately $233,000. Finally, M.D. Sass LLC acquired a new stake in Intercontinental Exchange in the third quarter valued at approximately $49,829,000. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ICE has been the topic of several analyst reports. Raymond James lowered shares of Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 price target on the stock. in a research note on Monday, October 14th. The Goldman Sachs Group boosted their price objective on shares of Intercontinental Exchange from $171.00 to $185.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $168.00 target price on shares of Intercontinental Exchange in a research note on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Intercontinental Exchange from $160.00 to $163.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Finally, Piper Sandler raised their price target on Intercontinental Exchange from $170.00 to $180.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $174.13.

Insider Transactions at Intercontinental Exchange

In related news, President Benjamin Jackson sold 5,828 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $160.00, for a total transaction of $932,480.00. Following the completion of the sale, the president now directly owns 156,163 shares of the company’s stock, valued at $24,986,080. The trade was a 3.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, General Counsel Andrew J. Surdykowski sold 2,048 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $159.57, for a total transaction of $326,799.36. Following the completion of the transaction, the general counsel now directly owns 44,865 shares in the company, valued at approximately $7,159,108.05. The trade was a 4.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,696 shares of company stock worth $1,554,559 over the last 90 days. 1.10% of the stock is owned by insiders.

Intercontinental Exchange Price Performance

Shares of ICE stock opened at $161.14 on Thursday. Intercontinental Exchange, Inc. has a 1 year low of $111.82 and a 1 year high of $167.99. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.68. The firm’s 50 day moving average is $160.55 and its 200-day moving average is $151.59. The firm has a market capitalization of $92.52 billion, a price-to-earnings ratio of 38.18, a PEG ratio of 2.64 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, hitting the consensus estimate of $1.55. The firm had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.35 billion. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. Intercontinental Exchange’s revenue was up 17.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.46 EPS. Sell-side analysts forecast that Intercontinental Exchange, Inc. will post 6.07 EPS for the current fiscal year.

Intercontinental Exchange 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.