US Bancorp DE Has $22.25 Million Stake in Intercontinental Exchange Inc. $ICE

US Bancorp DE decreased its position in Intercontinental Exchange Inc. (NYSE:ICE) by 2.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 121,277 shares of the financial services provider’s stock after selling 2,759 shares during the quarter. US Bancorp DE’s holdings in Intercontinental Exchange were worth $22,251,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Intercontinental Exchange by 1.4% in the first quarter. Vanguard Group Inc. now owns 52,940,356 shares of the financial services provider’s stock valued at $9,132,211,000 after acquiring an additional 712,179 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Intercontinental Exchange by 491.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,433,497 shares of the financial services provider’s stock valued at $1,109,780,000 after acquiring an additional 5,345,388 shares during the last quarter. Amundi increased its position in shares of Intercontinental Exchange by 14.7% in the first quarter. Amundi now owns 6,315,706 shares of the financial services provider’s stock valued at $1,060,574,000 after acquiring an additional 810,938 shares during the last quarter. Independent Franchise Partners LLP increased its position in shares of Intercontinental Exchange by 0.5% in the first quarter. Independent Franchise Partners LLP now owns 6,192,424 shares of the financial services provider’s stock valued at $1,068,193,000 after acquiring an additional 31,588 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in shares of Intercontinental Exchange by 113.9% in the first quarter. Wellington Management Group LLP now owns 5,943,363 shares of the financial services provider’s stock valued at $1,025,230,000 after acquiring an additional 3,165,381 shares during the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Intercontinental Exchange Trading Down 1.1%

Shares of NYSE:ICE opened at $157.51 on Friday. Intercontinental Exchange Inc. has a 12-month low of $142.29 and a 12-month high of $189.35. The business has a 50 day moving average of $174.01 and a 200-day moving average of $174.13. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.61. The stock has a market cap of $90.16 billion, a PE ratio of 30.23, a P/E/G ratio of 1.94 and a beta of 1.08.

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

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Piper Sandler lifted their target price on Intercontinental Exchange from $180.00 to $202.00 and gave the company an “overweight” rating in a research report on Tuesday, July 15th. Barclays reaffirmed an “overweight” rating and issued a $201.00 target price (down previously from $212.00) on shares of Intercontinental Exchange in a research report on Wednesday. Keefe, Bruyette & Woods raised Intercontinental Exchange to a “moderate buy” rating in a research report on Monday, October 6th. UBS Group boosted their price target on Intercontinental Exchange from $195.00 to $210.00 and gave the stock a “buy” rating in a research report on Tuesday, July 8th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Intercontinental Exchange in a research report on Wednesday. Nine equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $197.10.

Insider Buying and Selling

In other news, CEO Jeffrey C. Sprecher sold 150,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $183.09, for a total value of $27,463,500.00. Following the transaction, the chief executive officer owned 1,951,705 shares of the company’s stock, valued at approximately $357,337,668.45. This represents a 7.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Andrew J. Surdykowski sold 3,850 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the general counsel directly owned 46,293 shares in the company, valued at $8,255,430.69. The trade was a 7.68% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 240,956 shares of company stock valued at $43,789,542 in the last ninety days. 1.00% of the stock is currently owned by company insiders.

About Intercontinental Exchange

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.