Cadence Bank Takes $233,000 Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Cadence Bank purchased a new position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) in the 3rd quarter, Holdings Channel reports. The institutional investor purchased 1,448 shares of the financial services provider’s stock, valued at approximately $233,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. M.D. Sass LLC purchased a new stake in Intercontinental Exchange in the 3rd quarter valued at approximately $49,829,000. J. Stern & Co. LLP acquired a new position in shares of Intercontinental Exchange in the third quarter worth $1,976,000. Avestar Capital LLC lifted its position in shares of Intercontinental Exchange by 6.1% in the third quarter. Avestar Capital LLC now owns 2,851 shares of the financial services provider’s stock valued at $458,000 after acquiring an additional 163 shares in the last quarter. Brooklyn Investment Group boosted its stake in shares of Intercontinental Exchange by 7.3% during the third quarter. Brooklyn Investment Group now owns 3,120 shares of the financial services provider’s stock valued at $501,000 after acquiring an additional 213 shares during the last quarter. Finally, Quantbot Technologies LP increased its position in Intercontinental Exchange by 130.6% during the 3rd quarter. Quantbot Technologies LP now owns 25,443 shares of the financial services provider’s stock worth $4,087,000 after purchasing an additional 14,412 shares in the last quarter. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Intercontinental Exchange

In other news, General Counsel Andrew J. Surdykowski sold 2,048 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $159.57, for a total transaction of $326,799.36. Following the sale, the general counsel now owns 44,865 shares in the company, valued at $7,159,108.05. This trade represents a 4.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Benjamin Jackson sold 5,828 shares of the company’s stock in a transaction 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 completion of the transaction, the president now owns 156,163 shares of the company’s stock, valued at $24,986,080. This trade represents a 3.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,696 shares of company stock valued at $1,554,559 over the last three months. 1.10% of the stock is owned by company insiders.

Intercontinental Exchange Trading Up 0.4 %

NYSE ICE opened at $161.19 on Friday. The firm has a market capitalization of $92.55 billion, a price-to-earnings ratio of 38.20, a PEG ratio of 2.64 and a beta of 1.08. 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, Inc. has a one year low of $111.82 and a one year high of $167.99. The company’s 50 day moving average price is $160.59 and its 200 day moving average price is $151.66.

Intercontinental Exchange (NYSE:ICE) last issued 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 net margin of 21.31% and a return on equity of 12.75%. The business had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter last year, the firm posted $1.46 EPS. The business’s revenue for the quarter was up 17.3% compared to the same quarter last year. On average, sell-side analysts predict that Intercontinental Exchange, Inc. will post 6.07 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ICE. The Goldman Sachs Group upped their target price 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. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $168.00 target price on shares of Intercontinental Exchange in a research note on Tuesday, August 6th. Royal Bank of Canada reissued an “outperform” rating and set a $200.00 price target on shares of Intercontinental Exchange in a research note on Friday, November 1st. Piper Sandler upped their target price on Intercontinental Exchange from $170.00 to $180.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Intercontinental Exchange from $160.00 to $163.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. One equities 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’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $174.13.

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.