Pacer Advisors Inc. Sells 12,204 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Pacer Advisors Inc. reduced its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 17.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 57,950 shares of the financial services provider’s stock after selling 12,204 shares during the period. Pacer Advisors Inc.’s holdings in Intercontinental Exchange were worth $8,635,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of ICE. Wolff Wiese Magana LLC grew its holdings in Intercontinental Exchange by 1,470.0% during the third quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 147 shares during the period. Northwest Investment Counselors LLC bought a new position in Intercontinental Exchange in the 3rd quarter worth $26,000. Financial Management Professionals Inc. increased its stake in Intercontinental Exchange by 106.1% in the 3rd quarter. Financial Management Professionals Inc. now owns 169 shares of the financial services provider’s stock worth $27,000 after buying an additional 87 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in Intercontinental Exchange during the third quarter valued at about $29,000. Finally, FSA Wealth Management LLC purchased a new position in shares of Intercontinental Exchange in the third quarter valued at about $31,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

Intercontinental Exchange Stock Performance

NYSE ICE opened at $157.25 on Thursday. The business’s 50 day moving average price is $153.07 and its 200-day moving average price is $156.32. Intercontinental Exchange, Inc. has a fifty-two week low of $124.34 and a fifty-two week high of $167.99. The company has a market cap of $90.29 billion, a P/E ratio of 37.26, a P/E/G ratio of 2.95 and a beta of 1.10. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.00 and a current ratio of 1.00.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.55. The business had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.35 billion. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The business’s revenue was up 17.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.46 earnings per share. Sell-side analysts predict that Intercontinental Exchange, Inc. will post 6.05 earnings per share for the current year.

Analyst Ratings Changes

ICE has been the topic of several recent analyst reports. Royal Bank of Canada reissued an “outperform” rating and set a $200.00 target price on shares of Intercontinental Exchange in a research note on Tuesday, January 7th. Barclays lowered their target price on shares of Intercontinental Exchange from $187.00 to $179.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. Raymond James cut shares of Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 target price for the company. in a research note on Monday, October 14th. Piper Sandler boosted their price target on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Finally, Morgan Stanley raised their price objective on Intercontinental Exchange from $160.00 to $174.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Intercontinental Exchange presently has a consensus rating of “Moderate Buy” and a consensus target price of $175.27.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, President Benjamin Jackson sold 5,828 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $160.00, for a total value of $932,480.00. Following the transaction, the president now owns 156,163 shares of the company’s stock, valued at $24,986,080. This represents a 3.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CTO Mayur Kapani sold 5,661 shares of the business’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $147.59, for a total transaction of $835,506.99. Following the sale, the chief technology officer now directly owns 66,548 shares of the company’s stock, valued at $9,821,819.32. This represents a 7.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 13,795 shares of company stock worth $2,120,572. Insiders own 1.10% of the company’s stock.

Intercontinental Exchange Profile

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.