abrdn plc Has $69.05 Million Stock Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

abrdn plc decreased its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 19.8% in the fourth quarter, HoldingsChannel reports. The firm owned 463,874 shares of the financial services provider’s stock after selling 114,760 shares during the period. abrdn plc’s holdings in Intercontinental Exchange were worth $69,045,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Wolff Wiese Magana LLC raised its holdings in shares of Intercontinental Exchange by 1,470.0% during the third quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 147 shares in the last quarter. Northwest Investment Counselors LLC acquired a new position in Intercontinental Exchange during the third quarter valued at approximately $26,000. Financial Management Professionals Inc. lifted its position in Intercontinental Exchange by 106.1% during the 3rd quarter. Financial Management Professionals Inc. now owns 169 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 87 shares during the last quarter. Capital Performance Advisors LLP bought a new stake in Intercontinental Exchange during the 3rd quarter valued at approximately $29,000. Finally, FSA Wealth Management LLC bought a new stake in shares of Intercontinental Exchange in the third quarter valued at approximately $31,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Intercontinental Exchange Stock Down 0.6 %

Shares of Intercontinental Exchange stock opened at $159.37 on Wednesday. The stock’s 50-day moving average is $153.14 and its 200 day moving average is $156.63. The firm has a market cap of $91.50 billion, a price-to-earnings ratio of 37.76, a PEG ratio of 3.06 and a beta of 1.11. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.00 and a quick ratio of 1.00. Intercontinental Exchange, Inc. has a one year low of $124.34 and a one year high of $167.99.

Insider Activity at Intercontinental Exchange

In related news, COO Stuart Glen Williams sold 750 shares of the stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $152.99, for a total transaction of $114,742.50. Following the completion of the transaction, the chief operating officer now owns 12,780 shares in the company, valued at approximately $1,955,212.20. This represents a 5.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Benjamin Jackson sold 5,828 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $160.00, for a total value of $932,480.00. Following the completion of the sale, the president now directly owns 156,163 shares of the company’s stock, valued at $24,986,080. This represents a 3.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,795 shares of company stock valued at $2,120,572. 1.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

ICE has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft boosted their price objective on Intercontinental Exchange from $160.00 to $163.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Morgan Stanley increased their price target on Intercontinental Exchange from $160.00 to $174.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Barclays lowered their price objective on shares of Intercontinental Exchange from $187.00 to $179.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. JPMorgan Chase & Co. cut their price target on Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of Intercontinental Exchange from $183.00 to $178.00 and set an “outperform” rating on the stock in a research note on Monday, January 13th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $175.27.

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.