Bank of New York Mellon Corp Decreases Stock Holdings in Intercontinental Exchange Inc. $ICE

Bank of New York Mellon Corp lowered its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 3.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,218,123 shares of the financial services provider’s stock after selling 116,616 shares during the period. Bank of New York Mellon Corp’s holdings in Intercontinental Exchange were worth $506,146,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Brighton Jones LLC grew its stake in shares of Intercontinental Exchange by 51.3% in the fourth quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider’s stock valued at $514,000 after buying an additional 1,169 shares in the last quarter. Empowered Funds LLC grew its position in Intercontinental Exchange by 9.0% in the first quarter. Empowered Funds LLC now owns 14,396 shares of the financial services provider’s stock valued at $2,483,000 after acquiring an additional 1,189 shares in the last quarter. Sivia Capital Partners LLC grew its position in Intercontinental Exchange by 16.2% in the second quarter. Sivia Capital Partners LLC now owns 2,078 shares of the financial services provider’s stock valued at $381,000 after acquiring an additional 289 shares in the last quarter. NewEdge Advisors LLC raised its stake in shares of Intercontinental Exchange by 27.9% during the second quarter. NewEdge Advisors LLC now owns 21,213 shares of the financial services provider’s stock valued at $3,892,000 after purchasing an additional 4,628 shares during the period. Finally, Treasurer of the State of North Carolina raised its stake in shares of Intercontinental Exchange by 2.4% during the second quarter. Treasurer of the State of North Carolina now owns 266,496 shares of the financial services provider’s stock valued at $48,894,000 after purchasing an additional 6,373 shares during the period. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Rothschild & Co Redburn set a $177.00 target price on shares of Intercontinental Exchange in a research note on Thursday, June 11th. Morgan Stanley dropped their price target on shares of Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating on the stock in a research note on Friday, July 10th. Weiss Ratings lowered shares of Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, June 17th. Piper Sandler decreased their price objective on shares of Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, The Goldman Sachs Group lowered their target price on Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating for the company in a research note on Tuesday, June 30th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Intercontinental Exchange has a consensus rating of “Moderate Buy” and a consensus target price of $181.58.

Insider Activity

In related news, Director William Jefferson Hague sold 1,333 shares of the firm’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $139.46, for a total transaction of $185,900.18. Following the transaction, the director directly owned 20,132 shares in the company, valued at $2,807,608.72. This trade represents a 6.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Sharon Bowen sold 667 shares of Intercontinental Exchange stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $151.28, for a total transaction of $100,903.76. Following the completion of the transaction, the director directly owned 15,077 shares of the company’s stock, valued at approximately $2,280,848.56. This represents a 4.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 13,425 shares of company stock valued at $2,046,324 over the last three months. Company insiders own 0.84% of the company’s stock.

Intercontinental Exchange Stock Performance

Shares of Intercontinental Exchange stock opened at $141.63 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01. Intercontinental Exchange Inc. has a 1 year low of $121.79 and a 1 year high of $189.35. The firm’s 50-day simple moving average is $141.16 and its 200-day simple moving average is $154.89. The firm has a market cap of $80.09 billion, a PE ratio of 20.62, a price-to-earnings-growth ratio of 1.43 and a beta of 0.94.

Intercontinental Exchange (NYSE:ICE) last posted 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 business had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $2.88 billion. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The company’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same period last year, the firm earned $1.72 earnings per share. Equities analysts forecast that Intercontinental Exchange Inc. will post 8.11 earnings per share for the current fiscal year.

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.