Sompo Asset Management Co. Ltd. Sells 4,560 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Sompo Asset Management Co. Ltd. decreased its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 59.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,070 shares of the financial services provider’s stock after selling 4,560 shares during the quarter. Sompo Asset Management Co. Ltd.’s holdings in Intercontinental Exchange were worth $493,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Parnassus Investments LLC lifted its stake in 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 worth $1,259,213,000 after acquiring an additional 299,037 shares during the period. Legal & General Group Plc increased its position in Intercontinental Exchange by 4.5% during the 2nd quarter. Legal & General Group Plc now owns 4,453,286 shares of the financial services provider’s stock valued at $609,609,000 after buying an additional 191,763 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Intercontinental Exchange by 0.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,142,092 shares of the financial services provider’s stock valued at $504,746,000 after purchasing an additional 21,615 shares during the last quarter. Clearbridge Investments LLC raised its holdings in shares of Intercontinental Exchange by 10.4% in the second quarter. Clearbridge Investments LLC now owns 3,019,195 shares of the financial services provider’s stock worth $413,298,000 after buying an additional 284,664 shares during the last quarter. Finally, Raymond James & Associates raised its stake in Intercontinental Exchange by 11.1% in the 3rd quarter. Raymond James & Associates now owns 2,535,785 shares of the financial services provider’s stock worth $407,348,000 after acquiring an additional 253,324 shares during the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. JPMorgan Chase & Co. raised their price target on shares of Intercontinental Exchange from $171.00 to $188.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. TD Cowen began coverage on Intercontinental Exchange in a report on Thursday, September 26th. They issued a “buy” rating and a $182.00 price objective on the stock. Piper Sandler boosted their target price on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $168.00 price objective on shares of Intercontinental Exchange in a report on Tuesday, August 6th. Finally, The Goldman Sachs Group boosted their target price on Intercontinental Exchange from $171.00 to $185.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Intercontinental Exchange has a consensus rating of “Moderate Buy” and an average target price of $174.13.

Insider Activity

In other Intercontinental Exchange news, Director Judith A. Sprieser sold 1,941 shares of the stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $160.69, for a total value of $311,899.29. Following the sale, the director now owns 26,908 shares of the company’s stock, valued at $4,323,846.52. This trade represents a 6.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Christopher Scott Edmonds sold 602 shares of Intercontinental Exchange stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total value of $98,011.62. Following the completion of the transaction, the insider now owns 14,034 shares of the company’s stock, valued at $2,284,875.54. The trade was a 4.11 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,809 shares of company stock valued at $933,978. 1.10% of the stock is currently owned by company insiders.

Intercontinental Exchange Stock Up 0.6 %

Intercontinental Exchange stock opened at $159.29 on Monday. Intercontinental Exchange, Inc. has a fifty-two week low of $111.82 and a fifty-two week high of $167.99. The firm has a 50 day moving average price of $160.64 and a 200 day moving average price of $151.16. The company has a market capitalization of $91.46 billion, a PE ratio of 37.75, a price-to-earnings-growth ratio of 2.62 and a beta of 1.08. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.00 and a current ratio of 1.00.

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