Crescent Grove Advisors LLC Sells 25,137 Shares of Intercontinental Exchange Inc. $ICE

Crescent Grove Advisors LLC lowered its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 16.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 127,363 shares of the financial services provider’s stock after selling 25,137 shares during the period. Intercontinental Exchange accounts for 1.9% of Crescent Grove Advisors LLC’s portfolio, making the stock its 12th largest position. Crescent Grove Advisors LLC’s holdings in Intercontinental Exchange were worth $20,032,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently bought and sold shares of the stock. Ares Financial Consulting LLC acquired a new position in Intercontinental Exchange during the 4th quarter worth $25,000. Brooklands Fund Management Ltd acquired a new stake in shares of Intercontinental Exchange in the 4th quarter valued at $28,000. Dorato Capital Management acquired a new stake in shares of Intercontinental Exchange in the 4th quarter valued at $29,000. Swiss RE Ltd. bought a new stake in shares of Intercontinental Exchange during the fourth quarter worth $28,000. Finally, Steph & Co. raised its position in shares of Intercontinental Exchange by 104.7% during the fourth quarter. Steph & Co. now owns 174 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 89 shares during the last quarter. Institutional investors own 89.30% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Weiss Ratings lowered Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, June 17th. Piper Sandler lowered their price objective on Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating for the company in a research report on Wednesday. Morgan Stanley dropped their price objective on Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating for the company in a report on Friday, July 10th. The Goldman Sachs Group cut their target price on shares of Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating on the stock in a research report on Tuesday, June 30th. Finally, TD Cowen reduced their target price on shares of Intercontinental Exchange from $193.00 to $153.00 and set a “buy” rating on the stock in a research note on Monday, June 22nd. One 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 company. According to data from MarketBeat, Intercontinental Exchange currently has an average rating of “Moderate Buy” and a consensus price target of $181.58.

Intercontinental Exchange Stock Performance

Shares of Intercontinental Exchange stock opened at $139.55 on Friday. The firm has a fifty day moving average of $140.83 and a two-hundred day moving average of $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. The stock has a market capitalization of $78.92 billion, a price-to-earnings ratio of 20.31, a PEG ratio of 1.44 and a beta of 0.94. Intercontinental Exchange Inc. has a 52 week low of $121.79 and a 52 week high of $189.35.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.23 by $0.12. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The business had revenue of $3.67 billion for the quarter, compared to analyst estimates of $2.88 billion. During the same period last year, the company earned $1.72 EPS. The firm’s revenue was up 20.4% on a year-over-year basis. As a group, equities research analysts predict that Intercontinental Exchange Inc. will post 8.07 EPS for the current year.

Insider Transactions at Intercontinental Exchange

In other news, Director William Jefferson Hague sold 1,333 shares of the business’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $139.46, for a total transaction of $185,900.18. Following the completion of the transaction, the director directly owned 20,132 shares in the company, valued at approximately $2,807,608.72. The trade was a 6.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 4,573 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $151.56, for a total value of $693,083.88. Following the completion of the sale, the general counsel directly owned 45,473 shares of the company’s stock, valued at approximately $6,891,887.88. This trade represents a 9.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 13,425 shares of company stock valued at $2,046,324. Corporate insiders own 0.84% of the company’s stock.

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.