Intercontinental Exchange Inc. $ICE Holdings Trimmed by Provident Investment Management Inc.

Provident Investment Management Inc. reduced its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 3.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 286,342 shares of the financial services provider’s stock after selling 10,866 shares during the quarter. Intercontinental Exchange accounts for approximately 4.2% of Provident Investment Management Inc.’s investment portfolio, making the stock its 11th largest position. Provident Investment Management Inc.’s holdings in Intercontinental Exchange were worth $46,376,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ICE. ICONIQ Capital LLC lifted its holdings in Intercontinental Exchange by 2.2% in the 2nd quarter. ICONIQ Capital LLC now owns 2,621 shares of the financial services provider’s stock valued at $481,000 after acquiring an additional 56 shares during the last quarter. Mechanics Financial Corp grew its stake in shares of Intercontinental Exchange by 1.0% in the 4th quarter. Mechanics Financial Corp now owns 6,138 shares of the financial services provider’s stock worth $994,000 after purchasing an additional 60 shares during the last quarter. Aaron Wealth Advisors LLC raised its holdings in shares of Intercontinental Exchange by 1.9% in the 4th quarter. Aaron Wealth Advisors LLC now owns 3,384 shares of the financial services provider’s stock worth $548,000 after purchasing an additional 63 shares in the last quarter. Evergreen Capital Management LLC raised its holdings in shares of Intercontinental Exchange by 1.5% in the 4th quarter. Evergreen Capital Management LLC now owns 4,207 shares of the financial services provider’s stock worth $681,000 after purchasing an additional 63 shares in the last quarter. Finally, Sather Financial Group Inc lifted its stake in Intercontinental Exchange by 4.7% during the fourth quarter. Sather Financial Group Inc now owns 1,440 shares of the financial services provider’s stock valued at $233,000 after purchasing an additional 64 shares during the last quarter. 89.30% of the stock is currently owned by institutional investors.

Intercontinental Exchange Stock Up 1.2%

ICE stock opened at $157.76 on Tuesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market capitalization of $89.21 billion, a P/E ratio of 22.96, a P/E/G ratio of 1.44 and a beta of 0.96. Intercontinental Exchange Inc. has a 52-week low of $143.17 and a 52-week high of $189.35. The company’s 50 day simple moving average is $160.05 and its 200-day simple moving average is $160.02.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data 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. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The firm had revenue of $3.67 billion during the quarter, compared to analyst estimates of $2.88 billion. During the same quarter last year, the business posted $1.72 EPS. The company’s revenue was up 20.4% on a year-over-year basis. As a group, equities research analysts anticipate that Intercontinental Exchange Inc. will post 8.16 EPS for the current year.

Analyst Upgrades and Downgrades

ICE has been the subject of a number of research reports. Piper Sandler restated 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. Morgan Stanley increased their price objective on Intercontinental Exchange from $183.00 to $187.00 and gave the company an “equal weight” rating in a research report on Friday, April 10th. Barclays reissued an “overweight” rating and set a $201.00 price objective (up from $198.00) on shares of Intercontinental Exchange in a research note on Friday, May 1st. Weiss Ratings lowered Intercontinental Exchange from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, April 24th. Finally, Wall Street Zen raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $194.10.

Insider Buying and Selling

In other news, CFO Warren Gardiner sold 2,490 shares of the firm’s stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $154.00, for a total value of $383,460.00. Following the completion of the sale, the chief financial officer owned 27,679 shares of the company’s stock, valued at $4,262,566. This trade represents a 8.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, President Benjamin Jackson sold 3,865 shares of Intercontinental Exchange stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $153.73, for a total value of $594,166.45. Following the transaction, the president owned 165,304 shares in the company, valued at $25,412,183.92. This represents a 2.28% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 330,835 shares of company stock valued at $51,275,650. 0.84% of the stock is currently owned by company insiders.

Intercontinental Exchange 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.