Boston Common Asset Management LLC Sells 1,582 Shares of Intercontinental Exchange Inc. $ICE

Boston Common Asset Management LLC reduced its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 31.2% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 3,485 shares of the financial services provider’s stock after selling 1,582 shares during the quarter. Boston Common Asset Management LLC’s holdings in Intercontinental Exchange were worth $639,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Tsfg LLC grew its holdings in shares of Intercontinental Exchange by 187.3% during the 1st quarter. Tsfg LLC now owns 158 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 103 shares in the last quarter. Rakuten Securities Inc. increased its holdings in Intercontinental Exchange by 595.8% in the 1st quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider’s stock valued at $29,000 after buying an additional 143 shares during the period. Activest Wealth Management raised its position in shares of Intercontinental Exchange by 4,050.0% in the 1st quarter. Activest Wealth Management now owns 166 shares of the financial services provider’s stock valued at $29,000 after buying an additional 162 shares in the last quarter. McClarren Financial Advisors Inc. bought a new stake in shares of Intercontinental Exchange during the 1st quarter worth approximately $30,000. Finally, Global Trust Asset Management LLC acquired a new stake in shares of Intercontinental Exchange during the 1st quarter worth approximately $31,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Intercontinental Exchange Trading Up 0.9%

ICE opened at $162.47 on Monday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01. Intercontinental Exchange Inc. has a fifty-two week low of $142.29 and a fifty-two week high of $189.35. The company’s 50 day moving average price is $176.53 and its two-hundred day moving average price is $174.67. The firm has a market capitalization of $93.00 billion, a price-to-earnings ratio of 31.18, a PEG ratio of 1.98 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, July 31st. The financial services provider reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.04. The business had revenue of $3.26 billion during the quarter, compared to analyst estimates of $2.50 billion. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.Intercontinental Exchange’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period last year, the company earned $1.52 EPS. As a group, research analysts predict that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Insider Buying and Selling

In other news, General Counsel Andrew J. Surdykowski sold 3,850 shares of the company’s stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $178.33, for a total value of $686,570.50. Following the sale, the general counsel directly owned 46,293 shares of the company’s stock, valued at approximately $8,255,430.69. This represents a 7.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Judith A. Sprieser sold 2,900 shares of Intercontinental Exchange stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $174.51, for a total transaction of $506,079.00. Following the transaction, the director directly owned 18,169 shares of the company’s stock, valued at $3,170,672.19. This represents a 13.76% decrease in their position. The disclosure for this sale can be found here. Insiders sold 230,874 shares of company stock valued at $42,187,714 over the last 90 days. 1.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

ICE has been the subject of several recent analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Intercontinental Exchange in a research note on Saturday, September 27th. UBS Group upped their price objective on Intercontinental Exchange from $195.00 to $210.00 and gave the stock a “buy” rating in a research report on Tuesday, July 8th. Morgan Stanley reduced their price objective on Intercontinental Exchange from $192.00 to $188.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 1st. Barclays boosted their target price on Intercontinental Exchange from $206.00 to $212.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Finally, Piper Sandler raised their price target on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the company an “overweight” rating in a research note on Tuesday, July 15th. Nine equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $198.20.

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.