Hixon Zuercher LLC Has $1.89 Million Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Hixon Zuercher LLC lowered its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 3.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,664 shares of the financial services provider’s stock after selling 396 shares during the period. Hixon Zuercher LLC’s holdings in Intercontinental Exchange were worth $1,887,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Crews Bank & Trust acquired a new position in shares of Intercontinental Exchange in the fourth quarter valued at approximately $2,675,000. Busey Bank grew its stake in shares of Intercontinental Exchange by 4.0% in the 4th quarter. Busey Bank now owns 2,965 shares of the financial services provider’s stock worth $442,000 after acquiring an additional 113 shares in the last quarter. Synergy Asset Management LLC lifted its holdings in Intercontinental Exchange by 331.1% during the fourth quarter. Synergy Asset Management LLC now owns 9,968 shares of the financial services provider’s stock worth $1,515,000 after acquiring an additional 7,656 shares during the period. Hanson & Doremus Investment Management bought a new position in shares of Intercontinental Exchange during the 4th quarter valued at approximately $55,000. Finally, Invesco LLC raised its position in shares of Intercontinental Exchange by 22.5% in the fourth quarter. Invesco LLC now owns 10,893 shares of the financial services provider’s stock valued at $1,623,000 after purchasing an additional 2,001 shares during the period. Institutional investors and hedge funds own 89.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ICE. JPMorgan Chase & Co. cut their target price on Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price objective on shares of Intercontinental Exchange in a research note on Tuesday, January 7th. Piper Sandler lifted their price target on Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Morgan Stanley raised their target price on shares of Intercontinental Exchange from $160.00 to $174.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Finally, Keefe, Bruyette & Woods decreased their target price on shares of Intercontinental Exchange from $183.00 to $178.00 and set an “outperform” rating for the company in a research report on Monday, January 13th. One equities 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’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $175.27.

Insider Activity

In other news, President Benjamin Jackson sold 5,828 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $160.00, for a total transaction of $932,480.00. Following the transaction, the president now directly owns 156,163 shares of the company’s stock, valued at approximately $24,986,080. This trade represents a 3.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 955 shares of the business’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $156.08, for a total value of $149,056.40. Following the transaction, the general counsel now directly owns 44,702 shares of the company’s stock, valued at approximately $6,977,088.16. The trade was a 2.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 13,795 shares of company stock valued at $2,120,572 in the last quarter. Company insiders own 1.10% of the company’s stock.

Intercontinental Exchange Stock Performance

Intercontinental Exchange stock opened at $159.45 on Friday. The firm’s 50 day simple moving average is $153.10 and its 200-day simple moving average is $156.33. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.00 and a quick ratio of 1.00. The company has a market cap of $91.55 billion, a P/E ratio of 37.78, a price-to-earnings-growth ratio of 3.01 and a beta of 1.10. Intercontinental Exchange, Inc. has a fifty-two week low of $124.34 and a fifty-two week high of $167.99.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, October 31st. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.55. The company had revenue of $2.35 billion during 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% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.46 EPS. As a group, equities research analysts predict that Intercontinental Exchange, Inc. will post 6.05 EPS for the current year.

Intercontinental Exchange Company 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.