Ninety One North America Inc. Sells 1,539 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Ninety One North America Inc. cut its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 11.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,756 shares of the financial services provider’s stock after selling 1,539 shares during the period. Ninety One North America Inc.’s holdings in Intercontinental Exchange were worth $1,752,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC increased its position in shares of Intercontinental Exchange by 1.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 35,151 shares of the financial services provider’s stock valued at $5,647,000 after buying an additional 366 shares during the period. M&T Bank Corp grew its holdings in shares of Intercontinental Exchange by 33.2% during the third quarter. M&T Bank Corp now owns 46,689 shares of the financial services provider’s stock worth $7,500,000 after purchasing an additional 11,648 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. grew its holdings in shares of Intercontinental Exchange by 9.2% during the fourth quarter. Dixon Mitchell Investment Counsel Inc. now owns 728,133 shares of the financial services provider’s stock worth $108,515,000 after purchasing an additional 61,110 shares in the last quarter. Avantra Family Wealth Inc. purchased a new position in shares of Intercontinental Exchange during the fourth quarter worth about $702,000. Finally, Toronto Dominion Bank grew its holdings in shares of Intercontinental Exchange by 1.6% during the third quarter. Toronto Dominion Bank now owns 310,560 shares of the financial services provider’s stock worth $49,888,000 after purchasing an additional 4,973 shares in the last quarter. 89.30% of the stock is currently owned by institutional investors.

Intercontinental Exchange Stock Performance

NYSE:ICE opened at $159.44 on Tuesday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.00 and a current ratio of 1.00. Intercontinental Exchange, Inc. has a fifty-two week low of $124.34 and a fifty-two week high of $167.99. The firm has a market cap of $91.55 billion, a PE ratio of 37.84, a price-to-earnings-growth ratio of 3.06 and a beta of 1.11. The business has a 50 day moving average price of $153.12 and a 200-day moving average price of $156.54.

Analyst Upgrades and Downgrades

ICE has been the subject of several recent analyst reports. Raymond James lowered Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 price objective for the company. in a report on Monday, October 14th. Piper Sandler boosted their price objective on Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft boosted their price objective on Intercontinental Exchange from $160.00 to $163.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Barclays cut their target price on Intercontinental Exchange from $187.00 to $179.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. Finally, JPMorgan Chase & Co. cut their target price on Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $175.27.

Insider Buying and Selling at Intercontinental Exchange

In other news, President Benjamin Jackson sold 5,828 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $160.00, for a total value of $932,480.00. Following 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 position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Stuart Glen Williams sold 750 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $152.99, for a total value of $114,742.50. Following the completion of the transaction, the chief operating officer now directly owns 12,780 shares in the company, valued at $1,955,212.20. This trade represents a 5.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,795 shares of company stock valued at $2,120,572. 1.10% of the stock is currently owned by corporate insiders.

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.