Harbour Capital Advisors LLC Sells 862 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Harbour Capital Advisors LLC lowered its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 3.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 27,496 shares of the financial services provider’s stock after selling 862 shares during the quarter. Intercontinental Exchange comprises about 0.9% of Harbour Capital Advisors LLC’s holdings, making the stock its 29th biggest position. Harbour Capital Advisors LLC’s holdings in Intercontinental Exchange were worth $4,120,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. State Street Corp lifted its holdings in Intercontinental Exchange by 1.2% during the third quarter. State Street Corp now owns 23,651,598 shares of the financial services provider’s stock valued at $3,799,393,000 after purchasing an additional 281,503 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Intercontinental Exchange by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 11,555,615 shares of the financial services provider’s stock valued at $1,848,868,000 after buying an additional 169,922 shares in the last quarter. FMR LLC boosted its holdings in Intercontinental Exchange by 44.1% in the 3rd quarter. FMR LLC now owns 7,846,421 shares of the financial services provider’s stock worth $1,260,449,000 after buying an additional 2,401,630 shares during the period. Parnassus Investments LLC boosted its holdings in Intercontinental Exchange by 4.0% in the 3rd quarter. Parnassus Investments LLC now owns 7,838,727 shares of the financial services provider’s stock worth $1,259,213,000 after buying an additional 299,037 shares during the period. Finally, Franklin Resources Inc. increased its stake in Intercontinental Exchange by 8.0% in the 3rd quarter. Franklin Resources Inc. now owns 5,265,020 shares of the financial services provider’s stock worth $865,455,000 after buying an additional 390,332 shares in the last quarter. 89.30% of the stock is owned by hedge funds and other institutional investors.

Intercontinental Exchange Trading Up 0.6 %

Shares of ICE stock traded up $0.83 during trading hours on Monday, reaching $143.63. 1,618,419 shares of the stock were exchanged, compared to its average volume of 2,753,775. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.68. Intercontinental Exchange, Inc. has a 12-month low of $124.34 and a 12-month high of $167.99. The firm has a market capitalization of $82.47 billion, a price-to-earnings ratio of 34.04, a price-to-earnings-growth ratio of 2.57 and a beta of 1.10. The company’s 50-day moving average price is $154.09 and its 200-day moving average price is $155.43.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, October 31st. The financial services provider reported $1.55 EPS for the quarter, meeting analysts’ consensus estimates 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 analysts’ expectations of $2.35 billion. During the same quarter in the prior year, the firm posted $1.46 earnings per share. The company’s quarterly revenue was up 17.3% on a year-over-year basis. As a group, equities analysts anticipate that Intercontinental Exchange, Inc. will post 6.07 earnings per share for the current year.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 955 shares of the company’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $156.08, for a total value of $149,056.40. Following the completion of the sale, the general counsel now directly owns 44,702 shares in the company, valued at approximately $6,977,088.16. This represents a 2.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Stuart Glen Williams sold 750 shares of the stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $152.99, for a total value of $114,742.50. Following the transaction, the chief operating officer now directly owns 12,780 shares in the company, valued at $1,955,212.20. The trade was a 5.54 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,533 shares of company stock worth $1,196,279. 1.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

ICE has been the subject of a number of recent analyst reports. StockNews.com lowered Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Wednesday, January 8th. Piper Sandler upped their price target on Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. JPMorgan Chase & Co. lifted their price objective on shares of Intercontinental Exchange from $171.00 to $188.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. The Goldman Sachs Group raised their target price on shares of Intercontinental Exchange from $171.00 to $185.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Finally, Raymond James cut shares of Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 price target on the stock. in a research note on Monday, October 14th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, Intercontinental Exchange presently has an average rating of “Moderate Buy” and a consensus target price of $175.20.

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.