Freedom Investment Management Inc. Sells 275 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Freedom Investment Management Inc. trimmed its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 16.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 1,397 shares of the financial services provider’s stock after selling 275 shares during the period. Freedom Investment Management Inc.’s holdings in Intercontinental Exchange were worth $224,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Assenagon Asset Management S.A. lifted its stake in shares of Intercontinental Exchange by 819.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 137,074 shares of the financial services provider’s stock worth $18,764,000 after acquiring an additional 122,169 shares during the last quarter. BDF Gestion bought a new stake in shares of Intercontinental Exchange during the 2nd quarter worth approximately $2,849,000. Burke & Herbert Bank & Trust Co. bought a new stake in shares of Intercontinental Exchange during the 2nd quarter worth approximately $1,366,000. Blue Trust Inc. lifted its stake in shares of Intercontinental Exchange by 312.4% during the 2nd quarter. Blue Trust Inc. now owns 5,180 shares of the financial services provider’s stock worth $712,000 after acquiring an additional 3,924 shares during the last quarter. Finally, GDS Wealth Management lifted its stake in shares of Intercontinental Exchange by 5.3% during the 3rd quarter. GDS Wealth Management now owns 103,412 shares of the financial services provider’s stock worth $16,612,000 after acquiring an additional 5,226 shares during the last quarter. 89.30% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Intercontinental Exchange news, CFO Warren Gardiner sold 750 shares of Intercontinental Exchange stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $161.43, for a total transaction of $121,072.50. Following the completion of the sale, the chief financial officer now owns 16,576 shares of the company’s stock, valued at approximately $2,675,863.68. The trade was a 4.33 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Andrew J. Surdykowski sold 2,048 shares of Intercontinental Exchange stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $159.57, for a total value of $326,799.36. Following the sale, the general counsel now directly owns 44,865 shares of the company’s stock, valued at approximately $7,159,108.05. This represents a 4.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,696 shares of company stock worth $1,554,559 in the last ninety days. 1.10% of the stock is owned by insiders.

Intercontinental Exchange Trading Down 0.1 %

Shares of NYSE:ICE opened at $160.96 on Monday. Intercontinental Exchange, Inc. has a 12-month low of $111.82 and a 12-month high of $167.99. The business’s fifty day simple moving average is $160.62 and its 200-day simple moving average is $152.07. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $92.42 billion, a PE ratio of 38.14, a P/E/G ratio of 2.66 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, hitting the consensus estimate of $1.55. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The firm had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same period in the previous year, the business earned $1.46 EPS. The firm’s revenue for the quarter was up 17.3% on a year-over-year basis. As a group, equities research analysts predict that Intercontinental Exchange, Inc. will post 6.07 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on ICE shares. Deutsche Bank Aktiengesellschaft raised their price target on Intercontinental Exchange from $160.00 to $163.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. Royal Bank of Canada reissued an “outperform” rating and set a $200.00 price target on shares of Intercontinental Exchange in a research note on Friday, November 1st. Barclays reduced their price objective on Intercontinental Exchange from $179.00 to $173.00 and set an “overweight” rating on the stock in a report on Friday, November 1st. Bank of America raised their price objective on Intercontinental Exchange from $168.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Finally, Piper Sandler raised their price objective on Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Intercontinental Exchange has a consensus rating of “Moderate Buy” and a consensus target price of $174.13.

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.