Allspring Global Investments Holdings LLC Sells 214,398 Shares of Intercontinental Exchange Inc. $ICE

Allspring Global Investments Holdings LLC trimmed its position in Intercontinental Exchange Inc. (NYSE:ICE) by 22.6% in the first quarter, Holdings Channel.com reports. The institutional investor owned 736,188 shares of the financial services provider’s stock after selling 214,398 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Intercontinental Exchange were worth $116,377,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Ares Financial Consulting LLC acquired a new position in Intercontinental Exchange in the 4th quarter valued at $25,000. Holos Integrated Wealth LLC bought a new stake in Intercontinental Exchange during the fourth quarter valued at about $28,000. Steph & Co. grew its position in shares of Intercontinental Exchange by 104.7% in the fourth quarter. Steph & Co. now owns 174 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 89 shares during the last quarter. Brooklands Fund Management Ltd bought a new position in shares of Intercontinental Exchange in the fourth quarter worth about $28,000. Finally, Swiss RE Ltd. acquired a new position in shares of Intercontinental Exchange during the 4th quarter worth about $28,000. 89.30% of the stock is owned by institutional investors.

Intercontinental Exchange Stock Down 1.6%

Shares of NYSE:ICE opened at $139.55 on Friday. The company’s fifty day moving average is $140.83 and its 200-day moving average is $154.78. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01. Intercontinental Exchange Inc. has a 52 week low of $121.79 and a 52 week high of $189.35. The company has a market capitalization of $78.92 billion, a PE ratio of 20.31, a P/E/G ratio of 1.46 and a beta of 0.94.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, April 30th. The financial services provider reported $2.35 earnings per share for the quarter, topping the consensus estimate of $2.23 by $0.12. The firm had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $2.88 billion. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The company’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.72 earnings per share. Equities research analysts predict that Intercontinental Exchange Inc. will post 8.07 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 4,573 shares of Intercontinental Exchange stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $151.56, for a total value of $693,083.88. Following the completion of the transaction, the general counsel owned 45,473 shares in the company, valued at approximately $6,891,887.88. The trade was a 9.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Mayur Kapani sold 4,271 shares of the business’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $155.42, for a total value of $663,798.82. Following the completion of the transaction, the chief technology officer directly owned 64,869 shares in the company, valued at approximately $10,081,939.98. This represents a 6.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 13,425 shares of company stock worth $2,046,324 over the last ninety days. 0.84% of the stock is owned by insiders.

Analysts Set New Price Targets

ICE has been the topic of a number of research analyst reports. Morgan Stanley lowered their target price on Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating on the stock in a report on Friday, July 10th. UBS Group cut their price target on Intercontinental Exchange from $205.00 to $190.00 and set a “buy” rating for the company in a report on Tuesday, July 7th. TD Cowen reduced their price objective on Intercontinental Exchange from $193.00 to $153.00 and set a “buy” rating for the company in a research report on Monday, June 22nd. Piper Sandler lowered their price objective on shares of Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating on the stock in a research note on Wednesday. Finally, Rothschild & Co Redburn set a $177.00 target price on shares of Intercontinental Exchange in a research report on Thursday, June 11th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $181.58.

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.