Claro Advisors LLC Decreases Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Claro Advisors LLC trimmed its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 11.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,398 shares of the financial services provider’s stock after selling 177 shares during the quarter. Claro Advisors LLC’s holdings in Intercontinental Exchange were worth $225,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Adero Partners LLC bought a new stake in shares of Intercontinental Exchange in the 3rd quarter worth about $224,000. GoalVest Advisory LLC lifted its stake in Intercontinental Exchange by 15.8% in the third quarter. GoalVest Advisory LLC now owns 753 shares of the financial services provider’s stock worth $121,000 after purchasing an additional 103 shares during the last quarter. Sather Financial Group Inc purchased a new position in shares of Intercontinental Exchange during the third quarter valued at approximately $221,000. Vaughan Nelson Investment Management L.P. grew its stake in shares of Intercontinental Exchange by 4.9% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 1,522,172 shares of the financial services provider’s stock valued at $244,522,000 after buying an additional 70,565 shares during the last quarter. Finally, Maxwell Wealth Strategies Inc. raised its holdings in shares of Intercontinental Exchange by 21.3% in the third quarter. Maxwell Wealth Strategies Inc. now owns 18,213 shares of the financial services provider’s stock worth $2,875,000 after buying an additional 3,193 shares during the period. Institutional investors own 89.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Barclays dropped their price objective on Intercontinental Exchange from $179.00 to $173.00 and set an “overweight” rating for the company in a report on Friday, November 1st. TD Cowen began coverage on shares of Intercontinental Exchange in a report on Thursday, September 26th. They issued a “buy” rating and a $182.00 price target on the stock. Bank of America lifted their price objective on shares of Intercontinental Exchange from $168.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Piper Sandler upped their target price on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Finally, JPMorgan Chase & Co. raised their target price on shares of Intercontinental Exchange from $171.00 to $188.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $174.13.

Intercontinental Exchange Price Performance

Shares of ICE stock opened at $157.93 on Wednesday. The company has a market cap of $90.68 billion, a P/E ratio of 37.42, a PEG ratio of 2.57 and a beta of 1.08. 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 stock’s 50-day moving average is $160.81 and its 200 day moving average is $150.63. Intercontinental Exchange, Inc. has a 1-year low of $110.64 and a 1-year high of $167.99.

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

Insider Activity

In other news, insider Christopher Scott Edmonds sold 602 shares of the business’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total transaction of $98,011.62. Following the sale, the insider now directly owns 14,034 shares of the company’s stock, valued at $2,284,875.54. The trade was a 4.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 2,048 shares of Intercontinental Exchange stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $159.57, for a total value of $326,799.36. Following the sale, the general counsel now directly owns 44,865 shares of the company’s stock, valued at approximately $7,159,108.05. This represents a 4.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,489 shares of company stock worth $1,202,259 over the last 90 days. 1.10% of the stock is currently owned by corporate insiders.

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.