Accent Capital Management LLC Reduces Stock Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Accent Capital Management LLC cut its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 74.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,673 shares of the financial services provider’s stock after selling 4,781 shares during the quarter. Accent Capital Management LLC’s holdings in Intercontinental Exchange were worth $269,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Quintet Private Bank Europe S.A. raised its stake in shares of Intercontinental Exchange by 13.8% during the 3rd quarter. Quintet Private Bank Europe S.A. now owns 511 shares of the financial services provider’s stock worth $82,000 after buying an additional 62 shares during the period. Raleigh Capital Management Inc. raised its position in Intercontinental Exchange by 26.4% during the third quarter. Raleigh Capital Management Inc. now owns 302 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 63 shares during the period. Integrated Advisors Network LLC raised its position in Intercontinental Exchange by 4.0% during the third quarter. Integrated Advisors Network LLC now owns 1,714 shares of the financial services provider’s stock worth $275,000 after acquiring an additional 66 shares during the period. American National Bank lifted its holdings in Intercontinental Exchange by 13.8% during the second quarter. American National Bank now owns 569 shares of the financial services provider’s stock valued at $78,000 after purchasing an additional 69 shares in the last quarter. Finally, Catalyst Capital Advisors LLC grew its position in shares of Intercontinental Exchange by 6.2% in the third quarter. Catalyst Capital Advisors LLC now owns 1,197 shares of the financial services provider’s stock valued at $192,000 after purchasing an additional 70 shares during the period. Institutional investors and hedge funds own 89.30% of the company’s stock.

Intercontinental Exchange Trading Down 0.6 %

ICE opened at $155.55 on Friday. The business’s 50 day moving average price is $160.97 and its 200 day moving average price is $150.07. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a market capitalization of $89.31 billion, a PE ratio of 36.86, a P/E/G ratio of 2.57 and a beta of 1.08. Intercontinental Exchange, Inc. has a one year low of $110.64 and a one year high of $167.99.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, October 31st. The financial services provider reported $1.55 EPS for the quarter, meeting 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 company’s quarterly revenue was up 17.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.46 EPS. As a group, equities research analysts expect that Intercontinental Exchange, Inc. will post 6.07 EPS for the current year.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

ICE has been the subject of several research analyst reports. Barclays reduced their price target on shares of Intercontinental Exchange from $179.00 to $173.00 and set an “overweight” rating for the company in a research report on Friday, November 1st. Raymond James downgraded Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 target price on the stock. in a research report on Monday, October 14th. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $168.00 price target on shares of Intercontinental Exchange in a research report on Tuesday, August 6th. Piper Sandler raised their price objective on Intercontinental Exchange from $170.00 to $180.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Intercontinental Exchange from $160.00 to $163.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, Intercontinental Exchange has a consensus rating of “Moderate Buy” and a consensus price target of $174.13.

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.