Thrive Wealth Management LLC Reduces Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Thrive Wealth Management LLC decreased its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 2.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,587 shares of the financial services provider’s stock after selling 89 shares during the period. Thrive Wealth Management LLC’s holdings in Intercontinental Exchange were worth $535,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Wealth Enhancement Advisory Services LLC lifted its holdings in Intercontinental Exchange by 1.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 35,151 shares of the financial services provider’s stock valued at $5,647,000 after buying an additional 366 shares in the last quarter. M&T Bank Corp raised its stake in shares of Intercontinental Exchange by 33.2% during the third quarter. M&T Bank Corp now owns 46,689 shares of the financial services provider’s stock valued at $7,500,000 after acquiring an additional 11,648 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. boosted its holdings in shares of Intercontinental Exchange by 9.2% in the fourth quarter. Dixon Mitchell Investment Counsel Inc. now owns 728,133 shares of the financial services provider’s stock valued at $108,515,000 after purchasing an additional 61,110 shares during the period. Toronto Dominion Bank grew its stake in Intercontinental Exchange by 1.6% in the third quarter. Toronto Dominion Bank now owns 310,560 shares of the financial services provider’s stock worth $49,888,000 after purchasing an additional 4,973 shares in the last quarter. Finally, Bright Rock Capital Management LLC purchased a new position in Intercontinental Exchange during the 4th quarter worth $4,470,000. 89.30% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 955 shares of Intercontinental Exchange stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $156.08, for a total transaction of $149,056.40. Following the completion of the sale, the general counsel now directly owns 44,702 shares in the company, valued at approximately $6,977,088.16. The trade was a 2.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, President Benjamin Jackson sold 5,828 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $160.00, for a total transaction of $932,480.00. Following the completion of the sale, the president now directly owns 156,163 shares in the company, valued at $24,986,080. This trade represents a 3.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,795 shares of company stock valued at $2,120,572. 1.10% of the stock is owned by company insiders.

Intercontinental Exchange Price Performance

Shares of ICE stock opened at $149.07 on Monday. Intercontinental Exchange, Inc. has a fifty-two week low of $124.34 and a fifty-two week high of $167.99. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a market capitalization of $85.59 billion, a price-to-earnings ratio of 35.33, a PEG ratio of 2.29 and a beta of 1.10. The stock’s 50-day simple moving average is $153.20 and its 200-day simple moving average is $155.63.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share 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 company had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter in the previous year, the firm earned $1.46 EPS. Intercontinental Exchange’s revenue was up 17.3% compared to the same quarter last year. As a group, equities analysts forecast that Intercontinental Exchange, Inc. will post 6.06 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. The Goldman Sachs Group upped their target price on Intercontinental Exchange from $171.00 to $185.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. TD Cowen began coverage on shares of Intercontinental Exchange in a research note on Thursday, September 26th. They issued a “buy” rating and a $182.00 price objective for the company. Bank of America boosted their price target 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. StockNews.com downgraded shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Wednesday, January 8th. Finally, Barclays cut their price objective on shares of Intercontinental Exchange from $187.00 to $179.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Intercontinental Exchange presently has a consensus rating of “Moderate Buy” and a consensus price target of $175.27.

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.