Intercontinental Exchange, Inc. (NYSE:ICE) Shares Sold by Avior Wealth Management LLC

Avior Wealth Management LLC reduced its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 2.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,212 shares of the financial services provider’s stock after selling 388 shares during the quarter. Avior Wealth Management LLC’s holdings in Intercontinental Exchange were worth $2,765,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. West Family Investments Inc. acquired a new stake in shares of Intercontinental Exchange in the 3rd quarter worth approximately $214,000. PNC Financial Services Group Inc. grew its holdings in Intercontinental Exchange by 4.5% in the third quarter. PNC Financial Services Group Inc. now owns 183,752 shares of the financial services provider’s stock valued at $29,518,000 after purchasing an additional 7,868 shares during the last quarter. Parnassus Investments LLC increased its position in shares of Intercontinental Exchange by 4.0% in the third quarter. Parnassus Investments LLC now owns 7,838,727 shares of the financial services provider’s stock valued at $1,259,213,000 after buying an additional 299,037 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Intercontinental Exchange during the 3rd quarter worth $19,279,000. Finally, SouthState Corp boosted its position in shares of Intercontinental Exchange by 7.0% in the 3rd quarter. SouthState Corp now owns 63,566 shares of the financial services provider’s stock worth $10,211,000 after buying an additional 4,140 shares in the last quarter. 89.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ICE has been the subject of several recent research reports. Royal Bank of Canada restated an “outperform” rating and set a $200.00 target price on shares of Intercontinental Exchange in a report on Friday, November 1st. Piper Sandler increased their price objective on Intercontinental Exchange from $170.00 to $180.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. The Goldman Sachs Group lifted their target price on shares of Intercontinental Exchange from $171.00 to $185.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. JPMorgan Chase & Co. lifted their price target on Intercontinental Exchange from $171.00 to $188.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and set a $168.00 price objective on shares of Intercontinental Exchange in a research note on Tuesday, August 6th. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $174.13.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, Director Martha A. Tirinnanzi sold 509 shares of Intercontinental Exchange stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $158.98, for a total value of $80,920.82. Following the completion of the transaction, the director now owns 3,958 shares of the company’s stock, valued at $629,242.84. The trade was a 11.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CAO James W. Namkung sold 1,171 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $160.00, for a total transaction of $187,360.00. Following the sale, the chief accounting officer now owns 16,665 shares of the company’s stock, valued at approximately $2,666,400. The trade was a 6.57 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,489 shares of company stock valued at $1,202,259. Insiders own 1.10% of the company’s stock.

Intercontinental Exchange Stock Performance

Shares of ICE opened at $157.93 on Wednesday. The firm has a market cap of $90.68 billion, a price-to-earnings ratio of 37.42, a PEG ratio of 2.57 and a beta of 1.08. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.68. The business’s 50 day moving average is $160.81 and its two-hundred day moving average is $150.63. Intercontinental Exchange, Inc. has a 52-week low of $110.64 and a 52-week high of $167.99.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.55. The firm had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.35 billion. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The firm’s quarterly revenue was up 17.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.46 earnings per share. Analysts forecast that Intercontinental Exchange, Inc. will post 6.07 EPS for the current fiscal year.

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.