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

EagleClaw Capital Managment LLC cut its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 1.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 66,540 shares of the financial services provider’s stock after selling 725 shares during the period. Intercontinental Exchange comprises about 1.8% of EagleClaw Capital Managment LLC’s holdings, making the stock its 13th largest position. EagleClaw Capital Managment LLC’s holdings in Intercontinental Exchange were worth $10,689,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. lifted its stake in Intercontinental Exchange by 819.7% in the 2nd quarter. Assenagon Asset Management S.A. now owns 137,074 shares of the financial services provider’s stock valued at $18,764,000 after buying an additional 122,169 shares in the last quarter. BDF Gestion purchased a new stake in Intercontinental Exchange during the 2nd quarter worth about $2,849,000. LRI Investments LLC acquired a new position in Intercontinental Exchange in the 1st quarter valued at about $137,000. Burke & Herbert Bank & Trust Co. purchased a new position in Intercontinental Exchange in the 2nd quarter valued at about $1,366,000. Finally, Blue Trust Inc. boosted its stake in shares of Intercontinental Exchange by 312.4% during the 2nd quarter. Blue Trust Inc. now owns 5,180 shares of the financial services provider’s stock worth $712,000 after purchasing an additional 3,924 shares during the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $168.00 price objective on shares of Intercontinental Exchange in a research report on Tuesday, August 6th. Barclays cut their price target on Intercontinental Exchange from $179.00 to $173.00 and set an “overweight” rating for the company in a report on Friday, November 1st. JPMorgan Chase & Co. raised their price objective on Intercontinental Exchange from $171.00 to $188.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Raymond James lowered Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 target price for the company. in a research note on Monday, October 14th. Finally, Piper Sandler increased their target price on Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $174.13.

Intercontinental Exchange Trading Up 0.2 %

ICE stock traded up $0.24 during midday trading on Wednesday, reaching $157.93. 2,847,512 shares of the company’s stock traded hands, compared to its average volume of 2,577,285. 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 fifty-two week low of $110.64 and a fifty-two week high of $167.99. The business has a 50-day moving average price of $160.81 and a two-hundred day moving average price of $150.63. The company has a market capitalization of $90.68 billion, a P/E ratio of 37.42, a PEG ratio of 2.57 and a beta of 1.08.

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

Insider Buying and Selling

In other news, Director Martha A. Tirinnanzi sold 509 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 3,958 shares in the company, valued at approximately $629,242.84. This represents a 11.39 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 2,048 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $159.57, for a total transaction of $326,799.36. Following the sale, the general counsel now directly owns 44,865 shares of the company’s stock, valued at $7,159,108.05. The trade was a 4.37 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,489 shares of company stock valued at $1,202,259. Corporate insiders own 1.10% of the company’s stock.

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.