Resources Management Corp CT ADV Sells 15,813 Shares of Intercontinental Exchange Inc. $ICE

Resources Management Corp CT ADV cut its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 56.2% in the 4th quarter, HoldingsChannel reports. The fund owned 12,319 shares of the financial services provider’s stock after selling 15,813 shares during the period. Resources Management Corp CT ADV’s holdings in Intercontinental Exchange were worth $1,995,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in ICE. PNC Financial Services Group Inc. increased its holdings in Intercontinental Exchange by 5.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 191,658 shares of the financial services provider’s stock worth $31,041,000 after acquiring an additional 10,742 shares during the period. M&G PLC increased its holdings in Intercontinental Exchange by 18.4% during the 3rd quarter. M&G PLC now owns 107,070 shares of the financial services provider’s stock worth $17,988,000 after acquiring an additional 16,635 shares during the period. Dover Advisors LLC bought a new stake in Intercontinental Exchange during the 3rd quarter worth approximately $710,000. Advisors Preferred LLC increased its holdings in Intercontinental Exchange by 284.5% during the 3rd quarter. Advisors Preferred LLC now owns 43,645 shares of the financial services provider’s stock worth $7,098,000 after acquiring an additional 32,295 shares during the period. Finally, Vanguard Group Inc. increased its holdings in Intercontinental Exchange by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 54,153,170 shares of the financial services provider’s stock worth $8,770,647,000 after acquiring an additional 413,639 shares during the period. 89.30% of the stock is owned by institutional investors.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, Director Sharon Bowen sold 667 shares of the stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $151.28, for a total transaction of $100,903.76. Following the completion of the sale, the director owned 15,077 shares of the company’s stock, valued at $2,280,848.56. This represents a 4.24% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CTO Mayur Kapani sold 4,271 shares of the stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $155.42, for a total transaction of $663,798.82. Following the sale, the chief technology officer directly owned 64,869 shares of the company’s stock, valued at $10,081,939.98. The trade was a 6.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 12,092 shares of company stock worth $1,860,424 in the last quarter. 0.84% of the stock is currently owned by company insiders.

Intercontinental Exchange Price Performance

Shares of NYSE:ICE opened at $140.26 on Monday. The company’s fifty day moving average price is $154.22 and its 200-day moving average price is $159.32. The firm has a market capitalization of $79.32 billion, a price-to-earnings ratio of 20.42, a PEG ratio of 1.35 and a beta of 0.92. Intercontinental Exchange Inc. has a one year low of $136.67 and a one year high of $189.35. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, April 30th. The financial services provider reported $2.35 EPS for the quarter, topping analysts’ consensus estimates of $2.23 by $0.12. The firm had revenue of $3.67 billion for the quarter, compared to analyst estimates of $2.88 billion. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The business’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.72 EPS. On average, equities research analysts anticipate that Intercontinental Exchange Inc. will post 8.16 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. UBS Group reaffirmed a “buy” rating and set a $205.00 target price on shares of Intercontinental Exchange in a report on Wednesday, May 20th. Keefe, Bruyette & Woods assumed coverage on shares of Intercontinental Exchange in a report on Wednesday, April 8th. They set an “outperform” rating and a $190.00 target price on the stock. Piper Sandler reaffirmed an “overweight” rating and set a $211.00 target price (up from $195.00) on shares of Intercontinental Exchange in a report on Wednesday, April 15th. Weiss Ratings lowered shares of Intercontinental Exchange from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, June 2nd. Finally, Morgan Stanley upped their target price on shares of Intercontinental Exchange from $183.00 to $187.00 and gave the stock an “equal weight” rating in a report on Friday, April 10th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $193.00.

About Intercontinental Exchange

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.