Sendero Wealth Management LLC Has $7.32 Million Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

Sendero Wealth Management LLC cut its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 14.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 45,552 shares of the financial services provider’s stock after selling 7,485 shares during the quarter. Intercontinental Exchange comprises 1.2% of Sendero Wealth Management LLC’s holdings, making the stock its 24th biggest position. Sendero Wealth Management LLC’s holdings in Intercontinental Exchange were worth $7,317,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of ICE. Vanguard Group Inc. increased its position in shares of Intercontinental Exchange by 7.5% during the 1st quarter. Vanguard Group Inc. now owns 50,776,525 shares of the financial services provider’s stock worth $6,978,218,000 after purchasing an additional 3,536,913 shares during the last quarter. Wellington Management Group LLP increased its holdings in Intercontinental Exchange by 35.0% during the fourth quarter. Wellington Management Group LLP now owns 16,397,991 shares of the financial services provider’s stock worth $2,105,994,000 after buying an additional 4,251,371 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Intercontinental Exchange by 4.3% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 5,280,194 shares of the financial services provider’s stock worth $725,657,000 after acquiring an additional 218,516 shares in the last quarter. Mawer Investment Management Ltd. lifted its stake in Intercontinental Exchange by 0.6% in the first quarter. Mawer Investment Management Ltd. now owns 4,696,457 shares of the financial services provider’s stock valued at $645,434,000 after acquiring an additional 28,771 shares during the last quarter. Finally, Legal & General Group Plc raised its holdings in shares of Intercontinental Exchange by 4.5% in the 2nd quarter. Legal & General Group Plc now owns 4,453,286 shares of the financial services provider’s stock valued at $609,609,000 after purchasing an additional 191,763 shares during the period. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Christopher Scott Edmonds sold 1,000 shares of the company’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $148.60, for a total transaction of $148,600.00. Following the transaction, the insider now directly owns 14,636 shares of the company’s stock, valued at $2,174,909.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, COO Stuart Glen Williams sold 468 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at approximately $2,202,819.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Christopher Scott Edmonds sold 1,000 shares of Intercontinental Exchange stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $148.60, for a total transaction of $148,600.00. Following the transaction, the insider now owns 14,636 shares in the company, valued at approximately $2,174,909.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,532 shares of company stock worth $1,507,309 over the last three months. 1.10% of the stock is currently owned by corporate insiders.

Intercontinental Exchange Trading Down 0.8 %

ICE traded down $1.32 during trading on Thursday, hitting $160.42. 455,807 shares of the stock traded hands, compared to its average volume of 2,479,906. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.99. The firm has a 50-day moving average of $158.74 and a 200 day moving average of $144.93. The firm has a market capitalization of $92.01 billion, a P/E ratio of 37.09, a price-to-earnings-growth ratio of 2.81 and a beta of 1.08. Intercontinental Exchange, Inc. has a 12-month low of $104.49 and a 12-month high of $164.18.

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

Analysts Set New Price Targets

A number of analysts have issued reports on ICE shares. The Goldman Sachs Group boosted their price objective on shares of Intercontinental Exchange from $171.00 to $185.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Piper Sandler boosted their price target on Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft raised their target price on Intercontinental Exchange from $152.00 to $154.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. JPMorgan Chase & Co. boosted their price target on shares of Intercontinental Exchange from $151.00 to $171.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Finally, Bank of America boosted their price objective on Intercontinental Exchange from $168.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Three research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $170.67.

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.