Bridges Investment Management Inc. Sells 2,810 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Bridges Investment Management Inc. lowered its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 0.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 394,388 shares of the financial services provider’s stock after selling 2,810 shares during the quarter. Bridges Investment Management Inc.’s holdings in Intercontinental Exchange were worth $63,354,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norden Group LLC purchased a new position in shares of Intercontinental Exchange during the first quarter worth about $487,000. Empirical Finance LLC grew its stake in Intercontinental Exchange by 11.8% in the 1st quarter. Empirical Finance LLC now owns 7,978 shares of the financial services provider’s stock worth $1,096,000 after buying an additional 844 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of Intercontinental Exchange in the 1st quarter worth $2,490,000. Empowered Funds LLC lifted its holdings in shares of Intercontinental Exchange by 23.0% during the 1st quarter. Empowered Funds LLC now owns 8,709 shares of the financial services provider’s stock worth $1,197,000 after acquiring an additional 1,631 shares during the last quarter. Finally, Illinois Municipal Retirement Fund lifted its holdings in shares of Intercontinental Exchange by 21.5% during the 1st quarter. Illinois Municipal Retirement Fund now owns 23,096 shares of the financial services provider’s stock worth $3,174,000 after acquiring an additional 4,084 shares during the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Insiders Place Their Bets

In other news, COO Stuart Glen Williams sold 468 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $162.81, for a total value of $76,195.08. Following the completion of the transaction, the chief operating officer now owns 13,530 shares in the company, valued at $2,202,819.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, COO Stuart Glen Williams sold 468 shares of the business’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total transaction of $76,195.08. Following the sale, the chief operating officer now owns 13,530 shares in the company, valued at approximately $2,202,819.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Martha A. Tirinnanzi sold 509 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $158.98, for a total transaction of $80,920.82. Following the sale, the director now directly owns 3,958 shares in the company, valued at $629,242.84. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,489 shares of company stock worth $1,202,259 over the last three months. Company insiders own 1.10% of the company’s stock.

Intercontinental Exchange Stock Up 0.2 %

Shares of NYSE:ICE opened at $156.47 on Friday. The stock’s 50-day moving average is $161.52 and its 200 day moving average is $149.07. The company has a market cap of $89.84 billion, a PE ratio of 37.08, a P/E/G ratio of 2.60 and a beta of 1.08. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.00 and a quick ratio of 1.00. Intercontinental Exchange, Inc. has a 1 year low of $108.44 and a 1 year high of $167.99.

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

Intercontinental Exchange Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date is Monday, December 16th. Intercontinental Exchange’s payout ratio is currently 42.65%.

Wall Street Analysts Forecast Growth

ICE has been the topic of a number of research reports. 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. TD Cowen initiated coverage on Intercontinental Exchange in a research report on Thursday, September 26th. They issued a “buy” rating and a $182.00 target price for the company. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $168.00 price target on shares of Intercontinental Exchange in a research report on Tuesday, August 6th. Barclays decreased their price target on shares of Intercontinental Exchange from $179.00 to $173.00 and set an “overweight” rating on the stock in a research note on Friday, November 1st. Finally, StockNews.com cut shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Monday, October 21st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $173.93.

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.