Associated Banc Corp Sells 311 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Associated Banc Corp lessened its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 11.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,316 shares of the financial services provider’s stock after selling 311 shares during the quarter. Associated Banc Corp’s holdings in Intercontinental Exchange were worth $372,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Assenagon Asset Management S.A. raised its stake in Intercontinental Exchange by 819.7% during the second quarter. Assenagon Asset Management S.A. now owns 137,074 shares of the financial services provider’s stock worth $18,764,000 after acquiring an additional 122,169 shares in the last quarter. BDF Gestion acquired a new position in Intercontinental Exchange during the 2nd quarter worth approximately $2,849,000. Burke & Herbert Bank & Trust Co. bought a new position in Intercontinental Exchange in the 2nd quarter valued at approximately $1,366,000. Blue Trust Inc. boosted its position in Intercontinental Exchange by 312.4% in the second quarter. Blue Trust Inc. now owns 5,180 shares of the financial services provider’s stock valued at $712,000 after buying an additional 3,924 shares in the last quarter. Finally, GDS Wealth Management grew its stake in shares of Intercontinental Exchange by 5.3% during the third quarter. GDS Wealth Management now owns 103,412 shares of the financial services provider’s stock worth $16,612,000 after buying an additional 5,226 shares during the last quarter. Institutional investors own 89.30% of the company’s stock.

Insider Activity at Intercontinental Exchange

In other 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 value of $121,072.50. Following the completion of the sale, the chief financial officer now owns 16,576 shares in the company, valued at $2,675,863.68. This represents a 4.33 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Stuart Glen Williams sold 468 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total transaction of $76,195.08. Following the transaction, the chief operating officer now directly owns 13,530 shares in the company, valued at $2,202,819.30. The trade was a 3.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 3,868 shares of company stock valued at $622,079. 1.10% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on ICE shares. Piper Sandler boosted 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. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $168.00 price objective on shares of Intercontinental Exchange in a research note on Tuesday, August 6th. Bank of America lifted their target price on shares of Intercontinental Exchange from $168.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Raymond James cut shares of Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 price target for the company. in a research report on Monday, October 14th. Finally, TD Cowen started coverage on shares of Intercontinental Exchange in a report on Thursday, September 26th. They set a “buy” rating and a $182.00 price target on the stock. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $174.13.

Intercontinental Exchange Price Performance

Shares of NYSE:ICE opened at $159.60 on Tuesday. Intercontinental Exchange, Inc. has a twelve month low of $111.82 and a twelve month high of $167.99. The stock’s 50 day moving average is $160.59 and its 200-day moving average is $151.34. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $91.64 billion, a price-to-earnings ratio of 37.82, a PEG ratio of 2.63 and a beta of 1.08.

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

Intercontinental Exchange Company 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.