Hartford Investment Management Co. Trims Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Hartford Investment Management Co. lessened its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 1.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 36,134 shares of the financial services provider’s stock after selling 639 shares during the period. Hartford Investment Management Co.’s holdings in Intercontinental Exchange were worth $5,805,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in ICE. Vanguard Group Inc. increased its holdings in Intercontinental Exchange by 7.5% in the first quarter. Vanguard Group Inc. now owns 50,776,525 shares of the financial services provider’s stock valued at $6,978,218,000 after buying an additional 3,536,913 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Intercontinental Exchange by 4.3% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 5,280,194 shares of the financial services provider’s stock worth $725,657,000 after buying an additional 218,516 shares in the last quarter. Mawer Investment Management Ltd. grew its stake in Intercontinental Exchange by 0.6% in the 1st quarter. Mawer Investment Management Ltd. now owns 4,696,457 shares of the financial services provider’s stock valued at $645,434,000 after acquiring an additional 28,771 shares during the last quarter. Legal & General Group Plc raised its position in Intercontinental Exchange by 4.5% during the second quarter. Legal & General Group Plc now owns 4,453,286 shares of the financial services provider’s stock worth $609,609,000 after acquiring an additional 191,763 shares during the last quarter. Finally, Clearbridge Investments LLC lifted its holdings in shares of Intercontinental Exchange by 10.4% in the second quarter. Clearbridge Investments LLC now owns 3,019,195 shares of the financial services provider’s stock valued at $413,298,000 after purchasing an additional 284,664 shares in the last quarter. 89.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ICE. JPMorgan Chase & Co. raised their price objective on shares of Intercontinental Exchange from $151.00 to $171.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Piper Sandler lifted their price objective on Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price target on shares of Intercontinental Exchange in a report on Friday, October 4th. StockNews.com downgraded shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Monday. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $168.00 target price on shares of Intercontinental Exchange in a research note on Tuesday, August 6th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, Intercontinental Exchange has an average rating of “Moderate Buy” and an average target price of $172.80.

Insider Buying and Selling

In related news, CFO Warren Gardiner sold 750 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $161.43, for a total value of $121,072.50. Following the transaction, the chief financial officer now owns 16,576 shares in the company, valued at approximately $2,675,863.68. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Intercontinental Exchange news, CAO James W. Namkung sold 1,043 shares of the stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $150.00, for a total transaction of $156,450.00. Following the transaction, the chief accounting officer now directly owns 17,836 shares in the company, valued at $2,675,400. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Warren Gardiner sold 750 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $161.43, for a total transaction of $121,072.50. Following the completion of the sale, the chief financial officer now directly owns 16,576 shares of the company’s stock, valued at $2,675,863.68. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,532 shares of company stock valued at $1,358,709 in the last quarter. Company insiders own 1.10% of the company’s stock.

Intercontinental Exchange Trading Down 0.7 %

ICE traded down $1.21 during trading on Wednesday, hitting $164.73. 144,658 shares of the company’s stock were exchanged, compared to its average volume of 2,468,904. The stock has a 50 day moving average price of $161.03 and a 200 day moving average price of $146.73. Intercontinental Exchange, Inc. has a 1 year low of $104.49 and a 1 year high of $167.23. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.69. The firm has a market cap of $94.49 billion, a P/E ratio of 38.06, a price-to-earnings-growth ratio of 2.62 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, August 1st. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.03. Intercontinental Exchange had a return on equity of 12.70% and a net margin of 21.43%. The firm had revenue of $2.32 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same period in the prior year, the firm earned $1.43 EPS. The firm’s quarterly revenue was up 22.7% compared to the same quarter last year. As a group, analysts expect that Intercontinental Exchange, Inc. will post 6.08 EPS for the current fiscal year.

Intercontinental Exchange Company Profile

Intercontinental Exchange, Inc, together with its subsidiaries, engages in the provision of market infrastructure, data services, and technology solutions for financial institutions, corporations, and government entities in the United States, the United Kingdom, the European Union, Singapore, India, Abu Dhabi, Israel, and Canada.