Burford Brothers Inc. Reduces Holdings in Intercontinental Exchange Inc. $ICE

Burford Brothers Inc. decreased its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 2.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,412 shares of the financial services provider’s stock after selling 66 shares during the quarter. Burford Brothers Inc.’s holdings in Intercontinental Exchange were worth $443,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Tsfg LLC raised its stake in 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 acquiring an additional 103 shares during the period. Activest Wealth Management raised its stake in Intercontinental Exchange by 4,050.0% during the 1st quarter. Activest Wealth Management now owns 166 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 162 shares during the period. Hilltop National Bank bought a new stake in Intercontinental Exchange during the 2nd quarter worth approximately $31,000. McClarren Financial Advisors Inc. bought a new stake in Intercontinental Exchange during the 1st quarter worth approximately $30,000. Finally, Accredited Wealth Management LLC bought a new stake in Intercontinental Exchange during the 1st quarter worth approximately $33,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Insider Buying and Selling

In related news, CTO Mayur Kapani sold 10,082 shares of the business’s stock in a transaction on Wednesday, October 8th. The shares were sold at an average price of $158.88, for a total value of $1,601,828.16. Following the sale, the chief technology officer owned 65,240 shares in the company, valued at approximately $10,365,331.20. The trade was a 13.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Douglas Foley sold 1,600 shares of the business’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $175.62, for a total transaction of $280,992.00. Following the completion of the sale, the senior vice president owned 25,796 shares in the company, valued at $4,530,293.52. This represents a 5.84% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 240,956 shares of company stock valued at $43,789,542 in the last three months. Corporate insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on ICE shares. Morgan Stanley decreased their target price on shares of 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 restated an “overweight” rating and set a $201.00 target price (down previously from $212.00) on shares of Intercontinental Exchange in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods upgraded shares of Intercontinental Exchange to a “moderate buy” rating in a research note on Monday, October 6th. Piper Sandler raised their target price on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 15th. Finally, UBS Group lifted their price objective on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the company a “buy” rating in a research report on Tuesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $199.60.

Intercontinental Exchange Trading Up 0.1%

Intercontinental Exchange stock opened at $153.52 on Friday. The stock has a market cap of $87.88 billion, a P/E ratio of 29.47, a PEG ratio of 2.14 and a beta of 1.08. 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 1 year low of $142.29 and a 1 year high of $189.35. The firm’s 50 day moving average price is $170.86 and its 200-day moving average price is $173.54.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, July 31st. The financial services provider reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.77 by $0.04. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The firm had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $2.50 billion. During the same quarter last year, the business posted $1.52 earnings per share. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. On average, equities analysts predict that Intercontinental Exchange Inc. will post 6.73 earnings per share 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.