Harmony Asset Management LLC Cuts Stock Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Harmony Asset Management LLC reduced its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 23.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 14,276 shares of the financial services provider’s stock after selling 4,362 shares during the quarter. Harmony Asset Management LLC’s holdings in Intercontinental Exchange were worth $2,293,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in ICE. Hilltop Holdings Inc. acquired a new stake in shares of Intercontinental Exchange during the third quarter valued at about $1,405,000. Hollow Brook Wealth Management LLC acquired a new position in Intercontinental Exchange in the 3rd quarter valued at $222,000. Centiva Capital LP boosted its stake in Intercontinental Exchange by 114.0% during the third quarter. Centiva Capital LP now owns 8,883 shares of the financial services provider’s stock worth $1,427,000 after buying an additional 4,733 shares in the last quarter. Benjamin Edwards Inc. boosted its stake in Intercontinental Exchange by 150.4% in the third quarter. Benjamin Edwards Inc. now owns 7,191 shares of the financial services provider’s stock worth $1,155,000 after purchasing an additional 4,319 shares in the last quarter. Finally, Atom Investors LP acquired a new position in shares of Intercontinental Exchange in the 3rd quarter valued at $305,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Insider Activity

In other Intercontinental Exchange news, President Benjamin Jackson sold 5,828 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $160.00, for a total transaction of $932,480.00. Following the sale, the president now directly owns 156,163 shares in the company, valued at approximately $24,986,080. This trade represents a 3.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Warren Gardiner sold 750 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $161.43, for a total value of $121,072.50. Following the completion of the transaction, the chief financial officer now directly owns 16,576 shares in the company, valued at $2,675,863.68. The trade was a 4.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,696 shares of company stock worth $1,554,559 over the last quarter. Corporate insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on ICE shares. JPMorgan Chase & Co. upped their price objective on Intercontinental Exchange from $171.00 to $188.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Piper Sandler boosted their price target on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Barclays dropped their price target on Intercontinental Exchange from $179.00 to $173.00 and set an “overweight” rating for the company in a research note on Friday, November 1st. TD Cowen began coverage on Intercontinental Exchange in a report on Thursday, September 26th. They set a “buy” rating and a $182.00 price target on the stock. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $200.00 price target on shares of Intercontinental Exchange in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, Intercontinental Exchange presently has a consensus rating of “Moderate Buy” and an average target price of $174.13.

Intercontinental Exchange Stock Down 1.7 %

Intercontinental Exchange stock opened at $158.29 on Tuesday. The business’s 50-day moving average price is $160.62 and its 200 day moving average price is $152.07. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.68. The firm has a market cap of $90.89 billion, a price-to-earnings ratio of 37.51, a price-to-earnings-growth ratio of 2.66 and a beta of 1.08. Intercontinental Exchange, Inc. has a 52 week low of $111.82 and a 52 week high of $167.99.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, meeting the consensus estimate of $1.55. The business had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.35 billion. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The business’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.46 earnings per share. As a group, sell-side analysts anticipate 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.