Schmidt P J Investment Management Inc. Decreases Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

Schmidt P J Investment Management Inc. decreased its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 3.8% in the third quarter, Holdings Channel.com reports. The institutional investor owned 29,291 shares of the financial services provider’s stock after selling 1,164 shares during the quarter. Schmidt P J Investment Management Inc.’s holdings in Intercontinental Exchange were worth $4,705,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its position in Intercontinental Exchange by 7.5% during the first 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 in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Intercontinental Exchange by 4.3% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 5,280,194 shares of the financial services provider’s stock valued at $725,657,000 after acquiring an additional 218,516 shares during the last quarter. Mawer Investment Management Ltd. grew its holdings in shares of Intercontinental Exchange by 0.6% in the first quarter. Mawer Investment Management Ltd. now owns 4,696,457 shares of the financial services provider’s stock valued at $645,434,000 after purchasing an additional 28,771 shares during the period. Legal & General Group Plc increased its position in Intercontinental Exchange by 4.5% during the second quarter. Legal & General Group Plc now owns 4,453,286 shares of the financial services provider’s stock worth $609,609,000 after purchasing an additional 191,763 shares during the last quarter. Finally, Clearbridge Investments LLC raised its stake in Intercontinental Exchange by 10.4% during the second quarter. Clearbridge Investments LLC now owns 3,019,195 shares of the financial services provider’s stock worth $413,298,000 after purchasing an additional 284,664 shares during the period. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Intercontinental Exchange Price Performance

Intercontinental Exchange stock opened at $166.89 on Friday. 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, Inc. has a 52-week low of $104.49 and a 52-week high of $167.54. The firm has a market cap of $95.73 billion, a PE ratio of 38.28, a price-to-earnings-growth ratio of 2.62 and a beta of 1.08. The company’s 50 day moving average is $161.21 and its two-hundred day moving average is $146.86.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.03. Intercontinental Exchange had a return on equity of 12.70% and a net margin of 21.43%. The business had revenue of $2.32 billion for the quarter, compared to analysts’ expectations of $2.31 billion. During the same period last year, the firm earned $1.43 earnings per share. The company’s revenue for the quarter was up 22.7% compared to the same quarter last year. On average, research analysts expect that Intercontinental Exchange, Inc. will post 6.08 EPS for the current fiscal year.

Insider Activity

In related news, CAO James W. Namkung sold 1,171 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $160.00, for a total transaction of $187,360.00. Following the sale, the chief accounting officer now directly owns 16,665 shares in the company, valued at approximately $2,666,400. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CAO James W. Namkung sold 1,171 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $160.00, for a total value of $187,360.00. Following the transaction, the chief accounting officer now owns 16,665 shares of the company’s stock, valued at $2,666,400. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 2,048 shares of the company’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $159.57, for a total value of $326,799.36. Following the transaction, the general counsel now directly owns 44,865 shares of the company’s stock, valued at approximately $7,159,108.05. 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 7,489 shares of company stock worth $1,202,259. 1.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on ICE shares. Citigroup increased their price target on shares of Intercontinental Exchange from $160.00 to $162.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. Piper Sandler increased their price objective on Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price target on shares of Intercontinental Exchange in a report on Friday, October 4th. Barclays raised their price objective on Intercontinental Exchange from $167.00 to $179.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Intercontinental Exchange from $152.00 to $154.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. One research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $173.93.

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.