Thrive Wealth Management LLC Lowers Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Thrive Wealth Management LLC lowered its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 2.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,587 shares of the financial services provider’s stock after selling 89 shares during the period. Thrive Wealth Management LLC’s holdings in Intercontinental Exchange were worth $535,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Fairscale Capital LLC acquired a new position in Intercontinental Exchange in the 2nd quarter worth about $25,000. Wolff Wiese Magana LLC raised its stake in shares of Intercontinental Exchange by 1,470.0% during the 3rd quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock worth $25,000 after buying an additional 147 shares during the period. Northwest Investment Counselors LLC purchased a new position in shares of Intercontinental Exchange during the 3rd quarter valued at approximately $26,000. Financial Management Professionals Inc. grew its stake in Intercontinental Exchange by 106.1% in the 3rd quarter. Financial Management Professionals Inc. now owns 169 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 87 shares during the period. Finally, Capital Performance Advisors LLP purchased a new stake in Intercontinental Exchange in the 3rd quarter worth $29,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, COO Stuart Glen Williams sold 750 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $152.99, for a total value of $114,742.50. Following the sale, the chief operating officer now directly owns 12,780 shares of the company’s stock, valued at approximately $1,955,212.20. The trade was a 5.54 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Mayur Kapani sold 5,661 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $147.59, for a total transaction of $835,506.99. Following the transaction, the chief technology officer now directly owns 66,548 shares of the company’s stock, 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 three months, insiders sold 13,795 shares of company stock worth $2,120,572. Company insiders own 1.10% of the company’s stock.

Intercontinental Exchange Trading Down 0.8 %

Shares of ICE opened at $149.07 on Monday. Intercontinental Exchange, Inc. has a 12-month low of $124.34 and a 12-month high of $167.99. The firm has a market capitalization of $85.59 billion, a P/E ratio of 35.33, a P/E/G ratio of 2.29 and a beta of 1.10. The firm has a 50-day moving average price of $153.20 and a 200 day moving average price of $155.63. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.68.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly 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 during the quarter, compared to analysts’ expectations of $2.35 billion. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The business’s revenue for the quarter was up 17.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.46 EPS. Sell-side analysts forecast that Intercontinental Exchange, Inc. will post 6.06 EPS for the current year.

Analysts Set New Price Targets

ICE has been the topic of several recent analyst reports. StockNews.com downgraded shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Wednesday, January 8th. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 price objective on shares of Intercontinental Exchange in a report on Tuesday, January 7th. Raymond James cut Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 target price for the company. in a report on Monday, October 14th. JPMorgan Chase & Co. decreased their target price on Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating on the stock in a research report on Friday. Finally, Morgan Stanley increased their price objective on Intercontinental Exchange from $160.00 to $174.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. One 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. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $175.27.

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.