Vinva Investment Management Ltd Trims Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Vinva Investment Management Ltd lessened its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 6.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 21,720 shares of the financial services provider’s stock after selling 1,495 shares during the quarter. Vinva Investment Management Ltd’s holdings in Intercontinental Exchange were worth $3,445,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Financial Counselors Inc. lifted its stake in shares of Intercontinental Exchange by 188.0% during the 3rd quarter. Financial Counselors Inc. now owns 10,847 shares of the financial services provider’s stock worth $1,742,000 after purchasing an additional 7,081 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Intercontinental Exchange by 9.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,648,437 shares of the financial services provider’s stock worth $586,085,000 after purchasing an additional 305,220 shares during the period. Fiduciary Trust Co lifted its stake in shares of Intercontinental Exchange by 18.9% during the 3rd quarter. Fiduciary Trust Co now owns 18,279 shares of the financial services provider’s stock worth $2,936,000 after purchasing an additional 2,904 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Intercontinental Exchange by 1.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 237,764 shares of the financial services provider’s stock worth $38,194,000 after buying an additional 4,354 shares during the period. Finally, First Commonwealth Financial Corp PA raised its position in shares of Intercontinental Exchange by 3.0% in the 3rd quarter. First Commonwealth Financial Corp PA now owns 4,969 shares of the financial services provider’s stock worth $798,000 after buying an additional 145 shares during the period. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ICE. Barclays cut their target price on Intercontinental Exchange from $179.00 to $173.00 and set an “overweight” rating on the stock in a research report on Friday, November 1st. Piper Sandler increased their target price on Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. TD Cowen began coverage on Intercontinental Exchange in a research report on Thursday, September 26th. They issued a “buy” rating and a $182.00 target price on the stock. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $168.00 target price on shares of Intercontinental Exchange in a research report on Tuesday, August 6th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 target price on shares of Intercontinental Exchange in a research report on Friday, November 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $174.13.

Insider Activity

In related news, COO Stuart Glen Williams sold 468 shares of Intercontinental Exchange stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $162.81, for a total value of $76,195.08. Following the completion of the transaction, the chief operating officer now directly owns 13,530 shares in the company, valued at approximately $2,202,819.30. This trade represents a 3.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Warren Gardiner sold 750 shares of Intercontinental Exchange 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 completion of the transaction, the chief financial officer now owns 16,576 shares of the company’s stock, valued at $2,675,863.68. This trade represents a 4.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,696 shares of company stock worth $1,554,559 over the last ninety days. Corporate insiders own 1.10% of the company’s stock.

Intercontinental Exchange Stock Up 0.4 %

Shares of Intercontinental Exchange stock opened at $161.19 on Friday. The business has a 50-day moving average of $160.59 and a 200-day moving average of $151.66. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.00 and a quick ratio of 1.00. The company has a market capitalization of $92.55 billion, a PE ratio of 38.20, a P/E/G ratio of 2.66 and a beta of 1.08. Intercontinental Exchange, Inc. has a 1-year low of $111.82 and a 1-year high of $167.99.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, meeting the consensus estimate of $1.55. The company had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.35 billion. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The company’s revenue was up 17.3% on a year-over-year basis. During the same period last year, the firm earned $1.46 earnings per share. As a group, equities analysts forecast that Intercontinental Exchange, Inc. will post 6.07 EPS for the current fiscal year.

Intercontinental Exchange 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.