Alpha Cubed Investments LLC Has $13.44 Million Holdings in Intercontinental Exchange Inc. $ICE

Alpha Cubed Investments LLC trimmed its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 4.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 79,788 shares of the financial services provider’s stock after selling 3,363 shares during the quarter. Alpha Cubed Investments LLC’s holdings in Intercontinental Exchange were worth $13,443,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of ICE. Vanguard Group Inc. increased its holdings in shares of Intercontinental Exchange by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 53,685,491 shares of the financial services provider’s stock valued at $9,849,677,000 after acquiring an additional 745,135 shares during the last quarter. Geode Capital Management LLC boosted its position in Intercontinental Exchange by 1.2% during the second quarter. Geode Capital Management LLC now owns 12,438,154 shares of the financial services provider’s stock worth $2,270,657,000 after purchasing an additional 145,961 shares during the period. Norges Bank acquired a new position in Intercontinental Exchange during the second quarter valued at approximately $1,542,780,000. Sands Capital Management LLC raised its position in shares of Intercontinental Exchange by 97.3% in the second quarter. Sands Capital Management LLC now owns 5,313,039 shares of the financial services provider’s stock valued at $974,783,000 after purchasing an additional 2,620,310 shares during the period. Finally, Legal & General Group Plc lifted its stake in shares of Intercontinental Exchange by 4.1% in the second quarter. Legal & General Group Plc now owns 3,510,634 shares of the financial services provider’s stock worth $644,096,000 after buying an additional 137,685 shares during the last quarter. 89.30% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Judith A. Sprieser sold 3,700 shares of the firm’s stock in a transaction on Friday, December 5th. The stock was sold at an average price of $157.96, for a total value of $584,452.00. Following the completion of the transaction, the director directly owned 14,469 shares of the company’s stock, valued at $2,285,523.24. This trade represents a 20.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Mayur Kapani sold 5,345 shares of Intercontinental Exchange stock in a transaction on Monday, December 8th. The stock was sold at an average price of $156.67, for a total transaction of $837,401.15. Following the sale, the chief technology officer owned 65,240 shares in the company, valued at $10,221,150.80. This represents a 7.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 166,068 shares of company stock valued at $25,470,702 in the last ninety days. 1.00% of the stock is currently owned by insiders.

Intercontinental Exchange Trading Up 1.5%

Shares of ICE opened at $174.96 on Friday. Intercontinental Exchange Inc. has a 12-month low of $143.17 and a 12-month high of $189.35. 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 firm has a market capitalization of $99.76 billion, a price-to-earnings ratio of 31.87, a P/E/G ratio of 2.13 and a beta of 1.03. The stock’s 50-day moving average price is $163.64 and its 200 day moving average price is $167.03.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, October 30th. The financial services provider reported $1.71 EPS for the quarter, hitting analysts’ consensus estimates of $1.71. Intercontinental Exchange had a return on equity of 13.79% and a net margin of 25.24%.The company had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $2.49 billion. During the same quarter last year, the company earned $1.55 EPS. The company’s quarterly revenue was up 2.6% on a year-over-year basis. As a group, research analysts predict that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently issued reports on ICE shares. Raymond James Financial reiterated a “strong-buy” rating and issued a $211.00 target price on shares of Intercontinental Exchange in a research note on Tuesday, January 6th. Barclays set a $182.00 price target on shares of Intercontinental Exchange and gave the company an “overweight” rating in a report on Thursday, January 8th. Morgan Stanley set a $180.00 price target on Intercontinental Exchange and gave the company an “equal weight” rating in a research report on Thursday, January 15th. Piper Sandler reissued an “overweight” rating and set a $195.00 price objective (down previously from $202.00) on shares of Intercontinental Exchange in a research report on Wednesday, January 14th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $180.00 target price on shares of Intercontinental Exchange in a research note on Tuesday, January 6th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, Intercontinental Exchange has an average rating of “Buy” and an average target price of $193.50.

Intercontinental Exchange Company 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.