Brown Lisle Cummings Inc. Cuts Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

Brown Lisle Cummings Inc. decreased its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 0.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 59,488 shares of the financial services provider’s stock after selling 412 shares during the period. Intercontinental Exchange makes up about 2.6% of Brown Lisle Cummings Inc.’s investment portfolio, making the stock its 6th largest holding. Brown Lisle Cummings Inc.’s holdings in Intercontinental Exchange were worth $8,864,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Quintet Private Bank Europe S.A. raised its holdings in Intercontinental Exchange by 13.8% during the third quarter. Quintet Private Bank Europe S.A. now owns 511 shares of the financial services provider’s stock worth $82,000 after acquiring an additional 62 shares in the last quarter. Raleigh Capital Management Inc. increased its position in shares of Intercontinental Exchange by 26.4% during the 3rd quarter. Raleigh Capital Management Inc. now owns 302 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 63 shares during the last quarter. Integrated Advisors Network LLC raised its stake in shares of Intercontinental Exchange by 4.0% during the 3rd quarter. Integrated Advisors Network LLC now owns 1,714 shares of the financial services provider’s stock worth $275,000 after purchasing an additional 66 shares in the last quarter. Commons Capital LLC boosted its holdings in shares of Intercontinental Exchange by 1.2% in the 4th quarter. Commons Capital LLC now owns 5,949 shares of the financial services provider’s stock valued at $886,000 after buying an additional 69 shares during the last quarter. Finally, Catalyst Capital Advisors LLC grew its stake 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 buying an additional 70 shares in the last quarter. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Intercontinental Exchange Price Performance

NYSE:ICE opened at $160.40 on Tuesday. Intercontinental Exchange, Inc. has a 52 week low of $124.34 and a 52 week high of $167.99. 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 firm’s 50-day simple moving average is $153.12 and its 200 day simple moving average is $156.54. The firm has a market cap of $92.10 billion, a price-to-earnings ratio of 38.01, a P/E/G ratio of 3.06 and a beta of 1.11.

Insider Transactions at Intercontinental Exchange

In other news, President Benjamin Jackson sold 5,828 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $160.00, for a total transaction of $932,480.00. Following the completion of the sale, the president now directly owns 156,163 shares in the company, valued at approximately $24,986,080. This represents a 3.60 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CTO Mayur Kapani sold 5,661 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was 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 owns 66,548 shares in the company, valued at $9,821,819.32. The trade was a 7.84 % decrease in their position. The disclosure for this sale can be found here. Over 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.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Morgan Stanley boosted their price objective on shares of Intercontinental Exchange from $160.00 to $174.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. StockNews.com downgraded Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Wednesday, January 8th. JPMorgan Chase & Co. cut their price objective on Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Keefe, Bruyette & Woods reduced their target price on Intercontinental Exchange from $183.00 to $178.00 and set an “outperform” rating for the company in a research note on Monday, January 13th. Finally, Piper Sandler increased their price target on Intercontinental Exchange from $170.00 to $180.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.