Allspring Global Investments Holdings LLC Buys 78,556 Shares of Intercontinental Exchange Inc. $ICE

Allspring Global Investments Holdings LLC increased its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 8.9% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 964,925 shares of the financial services provider’s stock after purchasing an additional 78,556 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Intercontinental Exchange were worth $156,935,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Optivise Advisory Services LLC grew its stake in shares of Intercontinental Exchange by 3.1% during the second quarter. Optivise Advisory Services LLC now owns 1,794 shares of the financial services provider’s stock valued at $329,000 after buying an additional 54 shares during the last quarter. ICONIQ Capital LLC increased its stake in Intercontinental Exchange by 2.2% in the 2nd quarter. ICONIQ Capital LLC now owns 2,621 shares of the financial services provider’s stock worth $481,000 after buying an additional 56 shares during the period. Tritonpoint Wealth LLC lifted its holdings in Intercontinental Exchange by 1.4% during the 2nd quarter. Tritonpoint Wealth LLC now owns 4,347 shares of the financial services provider’s stock valued at $798,000 after buying an additional 58 shares in the last quarter. SBI Securities Co. Ltd. boosted its position in Intercontinental Exchange by 5.0% in the 2nd quarter. SBI Securities Co. Ltd. now owns 1,207 shares of the financial services provider’s stock valued at $221,000 after buying an additional 58 shares during the period. Finally, RB Capital Management LLC grew its stake in Intercontinental Exchange by 1.3% in the 2nd quarter. RB Capital Management LLC now owns 4,584 shares of the financial services provider’s stock worth $841,000 after acquiring an additional 59 shares in the last quarter. Institutional investors own 89.30% of the company’s stock.

Insider Activity

In related news, General Counsel Andrew J. Surdykowski sold 2,081 shares of Intercontinental Exchange stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $151.00, for a total value of $314,231.00. Following the sale, the general counsel directly owned 44,212 shares in the company, valued at approximately $6,676,012. The trade was a 4.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $153.08, for a total value of $22,962,000.00. Following the sale, the chief executive officer owned 1,801,705 shares of the company’s stock, valued at approximately $275,805,001.40. This trade represents a 7.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 176,150 shares of company stock worth $27,072,531. Company insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on ICE shares. JPMorgan Chase & Co. decreased their price target on shares of Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating for the company in a research note on Friday, October 31st. Keefe, Bruyette & Woods raised Intercontinental Exchange to a “moderate buy” rating in a research report on Monday, October 6th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Intercontinental Exchange in a report on Monday. Raymond James Financial upgraded Intercontinental Exchange from an “outperform” rating to a “strong-buy” rating and set a $210.00 price objective for the company in a research note on Monday, October 13th. Finally, UBS Group cut their target price on Intercontinental Exchange from $215.00 to $200.00 and set a “buy” rating on the stock in a research note on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating and ten have given a Buy rating to the company’s stock. According to MarketBeat, Intercontinental Exchange has a consensus rating of “Buy” and a consensus target price of $194.30.

Intercontinental Exchange Stock Performance

Shares of ICE stock opened at $163.14 on Wednesday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.61. The stock has a market cap of $93.02 billion, a PE ratio of 29.72, a price-to-earnings-growth ratio of 2.31 and a beta of 1.05. The business has a 50-day simple moving average of $156.02 and a 200-day simple moving average of $168.71. Intercontinental Exchange Inc. has a 52-week low of $142.29 and a 52-week high of $189.35.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, October 30th. The financial services provider reported $1.71 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.71. The business had revenue of $3.01 billion for the quarter, compared to analyst estimates of $2.49 billion. Intercontinental Exchange had a net margin of 25.24% and a return on equity of 13.79%. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.55 EPS. On average, equities analysts expect that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Profile

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.