Yousif Capital Management LLC Sells 4,501 Shares of Intercontinental Exchange Inc. $ICE

Yousif Capital Management LLC trimmed its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 7.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 58,799 shares of the financial services provider’s stock after selling 4,501 shares during the period. Yousif Capital Management LLC’s holdings in Intercontinental Exchange were worth $8,939,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new position in shares of Intercontinental Exchange during the second quarter worth about $6,245,085,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Intercontinental Exchange in the second quarter worth about $714,869,000. Flossbach Von Storch SE acquired a new stake in shares of Intercontinental Exchange in the second quarter valued at about $649,900,000. Bank of America Corp DE acquired a new stake in shares of Intercontinental Exchange in the second quarter valued at about $521,557,000. Finally, Jupiter Topco LLC acquired a new stake in shares of Intercontinental Exchange in the second quarter valued at about $474,012,000. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Intercontinental Exchange Stock Down 0.7%

ICE stock opened at $162.73 on Friday. The firm’s 50-day moving average is $157.26 and its two-hundred day moving average is $150.89. The company has a market capitalization of $91.36 billion, a price-to-earnings ratio of 22.98, a price-to-earnings-growth ratio of 1.50 and a beta of 0.94. Intercontinental Exchange Inc. has a 52 week low of $121.79 and a 52 week high of $176.05. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.84 by $0.06. Intercontinental Exchange had a return on equity of 14.95% and a net margin of 30.08%. The firm had revenue of $3.61 billion during the quarter, compared to analyst estimates of $2.63 billion. During the same period last year, the company posted $1.81 EPS. The firm’s quarterly revenue was up 4.8% on a year-over-year basis. On average, analysts forecast that Intercontinental Exchange Inc. will post 8.20 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Intercontinental Exchange news, President Benjamin Jackson sold 12,862 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $160.09, for a total value of $2,059,077.58. Following the completion of the transaction, the president directly owned 164,264 shares in the company, valued at $26,297,023.76. This trade represents a 7.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CTO Mayur Kapani sold 4,271 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $151.20, for a total transaction of $645,775.20. Following the completion of the transaction, the chief technology officer directly owned 67,988 shares in the company, valued at approximately $10,279,785.60. This trade represents a 5.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 41,179 shares of company stock valued at $6,473,715. Company insiders own 0.84% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Barclays restated an “overweight” rating and issued a $189.00 target price (up from $182.00) on shares of Intercontinental Exchange in a research note on Wednesday, October 7th. Wall Street Zen raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Saturday, October 10th. TD Cowen boosted their price objective on shares of Intercontinental Exchange from $166.00 to $167.00 and gave the stock a “hold” rating in a report on Monday, October 12th. Piper Sandler reissued an “overweight” rating and issued a $195.00 price objective (up from $190.00) on shares of Intercontinental Exchange in a research report on Friday, October 2nd. Finally, Weiss Ratings raised shares of Intercontinental Exchange from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $186.31.

Intercontinental Exchange Profile

Intercontinental Exchange, Inc (NYSE:ICE) is a global operator of exchanges, clearinghouses, data services and technology platforms. The company owns and operates the New York Stock Exchange and other exchanges serving equity, options, futures and over-the-counter markets. Its marketplaces support trading in areas including energy, agricultural commodities, interest rates, currencies, equity indexes and individual stocks.

ICE also provides clearing and settlement services that help manage counterparty and transaction risk, along with market data, analytics, connectivity and other technology solutions for financial institutions and businesses.