Xponance Inc. Trims Stock Holdings in Intercontinental Exchange Inc. $ICE

Xponance Inc. lowered its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 7.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 81,100 shares of the financial services provider’s stock after selling 6,909 shares during the period. Xponance Inc.’s holdings in Intercontinental Exchange were worth $13,664,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Optivise Advisory Services LLC lifted its holdings in Intercontinental Exchange by 3.1% during the 2nd quarter. Optivise Advisory Services LLC now owns 1,794 shares of the financial services provider’s stock worth $329,000 after purchasing an additional 54 shares in the last quarter. ICONIQ Capital LLC increased its position in shares of Intercontinental Exchange by 2.2% during the second quarter. ICONIQ Capital LLC now owns 2,621 shares of the financial services provider’s stock valued at $481,000 after buying an additional 56 shares during the period. SBI Securities Co. Ltd. lifted its holdings in shares of Intercontinental Exchange by 5.0% in the second quarter. SBI Securities Co. Ltd. now owns 1,207 shares of the financial services provider’s stock worth $221,000 after buying an additional 58 shares in the last quarter. Ledyard National Bank boosted its position in shares of Intercontinental Exchange by 4.3% in the second quarter. Ledyard National Bank now owns 1,512 shares of the financial services provider’s stock valued at $277,000 after acquiring an additional 62 shares during the period. Finally, Elyxium Wealth LLC grew its stake in Intercontinental Exchange by 1.2% during the second quarter. Elyxium Wealth LLC now owns 5,087 shares of the financial services provider’s stock valued at $933,000 after acquiring an additional 62 shares in the last quarter. 89.30% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Barclays set a $193.00 target price on shares of Intercontinental Exchange and gave the stock an “overweight” rating in a research note on Friday, February 6th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Intercontinental Exchange in a research report on Monday, December 29th. UBS Group reissued a “buy” rating and set a $200.00 price objective on shares of Intercontinental Exchange in a research note on Monday, February 9th. JPMorgan Chase & Co. decreased their target price on Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating on the stock in a research note on Friday, October 31st. Finally, Morgan Stanley set a $183.00 price target on Intercontinental Exchange and gave the company an “equal weight” rating in a report on Tuesday, February 10th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, Intercontinental Exchange has an average rating of “Buy” and an average target price of $195.40.

Intercontinental Exchange Stock Performance

NYSE:ICE opened at $164.05 on Friday. The company has a market capitalization of $93.17 billion, a price-to-earnings ratio of 28.43, a PEG ratio of 1.70 and a beta of 1.02. The business has a 50 day moving average of $164.47 and a 200 day moving average of $163.57. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.02 and a quick ratio of 1.02. Intercontinental Exchange Inc. has a 1-year low of $143.17 and a 1-year high of $189.35.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, February 5th. The financial services provider reported $1.71 EPS for the quarter, beating analysts’ consensus estimates of $1.67 by $0.04. The business had revenue of $3.14 billion for the quarter, compared to analysts’ expectations of $2.51 billion. Intercontinental Exchange had a net margin of 26.23% and a return on equity of 13.99%. The business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period last year, the business earned $1.52 earnings per share. On average, sell-side analysts predict that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Wednesday, December 16th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Wednesday, December 16th. This represents a $2.08 annualized dividend and a yield of 1.3%. Intercontinental Exchange’s payout ratio is currently 33.28%.

Insiders Place Their Bets

In other Intercontinental Exchange news, CTO Mayur Kapani sold 15,213 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $155.02, for a total value of $2,358,319.26. Following the transaction, the chief technology officer directly owned 64,869 shares of the company’s stock, valued at $10,055,992.38. The trade was a 19.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Christopher Scott Edmonds sold 11,303 shares of the stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $153.82, for a total value of $1,738,627.46. Following the sale, the insider directly owned 14,266 shares of the company’s stock, valued at approximately $2,194,396.12. This trade represents a 44.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 354,492 shares of company stock valued at $55,139,102 over the last three months. 1.00% of the stock is currently owned by company insiders.

Intercontinental Exchange Company Profile

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.