Chesapeake Wealth Management Decreases Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Chesapeake Wealth Management decreased its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 1.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,030 shares of the financial services provider’s stock after selling 75 shares during the quarter. Chesapeake Wealth Management’s holdings in Intercontinental Exchange were worth $601,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Ballentine Partners LLC boosted its stake in shares of Intercontinental Exchange by 1.8% during the 4th quarter. Ballentine Partners LLC now owns 6,004 shares of the financial services provider’s stock worth $895,000 after acquiring an additional 109 shares in the last quarter. Ulland Investment Advisors LLC boosted its stake in shares of Intercontinental Exchange by 21.1% during the 4th quarter. Ulland Investment Advisors LLC now owns 6,526 shares of the financial services provider’s stock worth $972,000 after acquiring an additional 1,136 shares in the last quarter. Cove Private Wealth LLC boosted its stake in shares of Intercontinental Exchange by 275.0% during the 4th quarter. Cove Private Wealth LLC now owns 5,625 shares of the financial services provider’s stock worth $838,000 after acquiring an additional 4,125 shares in the last quarter. Guinness Asset Management LTD boosted its stake in shares of Intercontinental Exchange by 9.9% during the 4th quarter. Guinness Asset Management LTD now owns 273,299 shares of the financial services provider’s stock worth $40,724,000 after acquiring an additional 24,660 shares in the last quarter. Finally, UMB Bank n.a. boosted its stake in shares of Intercontinental Exchange by 21.6% during the 4th quarter. UMB Bank n.a. now owns 13,399 shares of the financial services provider’s stock worth $1,997,000 after acquiring an additional 2,381 shares in the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Trading Down 0.8 %

Shares of ICE opened at $149.07 on Tuesday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $85.59 billion, a P/E ratio of 35.33, a price-to-earnings-growth ratio of 2.84 and a beta of 1.10. The stock’s fifty day simple moving average is $153.20 and its 200 day simple moving average is $155.73. Intercontinental Exchange, Inc. has a twelve month low of $124.34 and a twelve month high of $167.99.

Intercontinental Exchange (NYSE:ICE) last issued 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. The business had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.35 billion. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The business’s quarterly revenue was up 17.3% on a year-over-year basis. During the same period last year, the company posted $1.46 EPS. On average, equities research analysts forecast that Intercontinental Exchange, Inc. will post 6.06 earnings per share for the current year.

Insider Buying and Selling

In other Intercontinental Exchange news, insider Christopher Scott Edmonds sold 601 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $147.73, for a total value of $88,785.73. Following the transaction, the insider now directly owns 12,922 shares of the company’s stock, valued at $1,908,967.06. This trade represents a 4.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Mayur Kapani sold 5,661 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $147.59, for a total value of $835,506.99. Following the completion of the transaction, the chief technology officer now directly owns 66,548 shares in the company, valued at $9,821,819.32. This trade represents a 7.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 13,795 shares of company stock valued at $2,120,572. 1.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

ICE has been the topic of a number of recent research reports. TD Cowen initiated coverage on Intercontinental Exchange in a research note on Thursday, September 26th. They issued a “buy” rating and a $182.00 target price on the stock. The Goldman Sachs Group increased their target price on Intercontinental Exchange from $171.00 to $185.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Morgan Stanley increased their target price on Intercontinental Exchange from $160.00 to $174.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Piper Sandler increased their target price on Intercontinental Exchange from $170.00 to $180.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Finally, Barclays lowered their target price on Intercontinental Exchange from $187.00 to $179.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $175.27.

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.