Sendero Wealth Management LLC Cuts Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Sendero Wealth Management LLC trimmed its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 14.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,552 shares of the financial services provider’s stock after selling 7,485 shares during the period. Intercontinental Exchange makes up approximately 1.2% of Sendero Wealth Management LLC’s holdings, making the stock its 24th biggest holding. Sendero Wealth Management LLC’s holdings in Intercontinental Exchange were worth $7,317,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wellington Management Group LLP raised its stake in shares of Intercontinental Exchange by 35.0% in the fourth quarter. Wellington Management Group LLP now owns 16,397,991 shares of the financial services provider’s stock valued at $2,105,994,000 after acquiring an additional 4,251,371 shares during the period. Perpetual Ltd grew its holdings in shares of Intercontinental Exchange by 0.4% in the first quarter. Perpetual Ltd now owns 1,487,993 shares of the financial services provider’s stock worth $204,495,000 after purchasing an additional 6,272 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in Intercontinental Exchange by 819.7% in 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 buying an additional 122,169 shares during the period. Russell Investments Group Ltd. lifted its holdings in Intercontinental Exchange by 7.0% during the 1st quarter. Russell Investments Group Ltd. now owns 317,544 shares of the financial services provider’s stock valued at $43,617,000 after buying an additional 20,802 shares in the last quarter. Finally, Accent Capital Management LLC bought a new position in Intercontinental Exchange in the 4th quarter worth about $726,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ICE has been the subject of a number of research reports. Bank of America boosted their price target on Intercontinental Exchange from $168.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. 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. Citigroup upped their price target on Intercontinental Exchange from $160.00 to $162.00 and gave the stock a “buy” rating in a research report on Tuesday, July 9th. JPMorgan Chase & Co. raised their price objective on Intercontinental Exchange from $151.00 to $171.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Intercontinental Exchange from $152.00 to $154.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. Three analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $170.67.

Insider Activity

In other news, COO Stuart Glen Williams sold 468 shares of the company’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $162.81, for a total transaction of $76,195.08. Following the completion of the transaction, the chief operating officer now directly owns 13,530 shares of the company’s stock, valued at approximately $2,202,819.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, COO Stuart Glen Williams sold 468 shares of the business’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total value of $76,195.08. Following the completion of the sale, the chief operating officer now directly owns 13,530 shares of the company’s stock, valued at $2,202,819.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 2,048 shares of the business’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $159.57, for a total value of $326,799.36. Following the completion of the sale, the general counsel now directly owns 44,865 shares of the company’s stock, valued at $7,159,108.05. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,532 shares of company stock worth $1,507,309. 1.10% of the stock is currently owned by corporate insiders.

Intercontinental Exchange Trading Down 0.8 %

Shares of NYSE ICE traded down $1.32 during mid-day trading on Thursday, reaching $160.42. 455,807 shares of the company’s stock were exchanged, compared to its average volume of 2,479,906. The firm has a market capitalization of $92.01 billion, a price-to-earnings ratio of 37.09, a PEG ratio of 2.81 and a beta of 1.08. Intercontinental Exchange, Inc. has a 52-week low of $104.49 and a 52-week high of $164.18. The company’s 50-day moving average is $158.74 and its 200-day moving average is $144.93. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.99 and a current ratio of 0.99.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, August 1st. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.03. Intercontinental Exchange had a return on equity of 12.70% and a net margin of 21.43%. The firm had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.31 billion. During the same quarter in the prior year, the company earned $1.43 EPS. Intercontinental Exchange’s revenue was up 22.7% on a year-over-year basis. Analysts expect that Intercontinental Exchange, Inc. will post 6.04 EPS for the current fiscal year.

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.