Brookwood Investment Group LLC Acquires Shares of 1,243 Intercontinental Exchange Inc. $ICE

Brookwood Investment Group LLC acquired a new stake in Intercontinental Exchange Inc. (NYSE:ICE) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 1,243 shares of the financial services provider’s stock, valued at approximately $228,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Intercontinental Exchange by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 52,940,356 shares of the financial services provider’s stock valued at $9,132,211,000 after purchasing an additional 712,179 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Intercontinental Exchange by 491.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,433,497 shares of the financial services provider’s stock worth $1,109,780,000 after acquiring an additional 5,345,388 shares in the last quarter. Amundi boosted its stake in shares of Intercontinental Exchange by 14.7% during the 1st quarter. Amundi now owns 6,315,706 shares of the financial services provider’s stock worth $1,060,574,000 after acquiring an additional 810,938 shares in the last quarter. Independent Franchise Partners LLP boosted its stake in shares of Intercontinental Exchange by 0.5% during the 1st quarter. Independent Franchise Partners LLP now owns 6,192,424 shares of the financial services provider’s stock worth $1,068,193,000 after acquiring an additional 31,588 shares in the last quarter. Finally, Wellington Management Group LLP boosted its stake in shares of Intercontinental Exchange by 113.9% during the 1st quarter. Wellington Management Group LLP now owns 5,943,363 shares of the financial services provider’s stock worth $1,025,230,000 after acquiring an additional 3,165,381 shares in the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Analysts Set New Price Targets

ICE has been the topic of several research analyst reports. JPMorgan Chase & Co. boosted their price target on Intercontinental Exchange from $195.00 to $203.00 and gave the stock an “overweight” rating in a research note on Thursday, September 25th. Weiss Ratings reissued a “buy (b)” rating on shares of Intercontinental Exchange in a research note on Wednesday, October 8th. Piper Sandler boosted their price target on Intercontinental Exchange from $180.00 to $202.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 15th. Barclays reissued an “overweight” rating and set a $201.00 price target (down previously from $212.00) on shares of Intercontinental Exchange in a research note on Wednesday, October 8th. Finally, Raymond James Financial raised Intercontinental Exchange from an “outperform” rating to a “strong-buy” rating and set a $210.00 price target on the stock in a research note on Monday, October 13th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Intercontinental Exchange currently has a consensus rating of “Moderate Buy” and an average price target of $198.60.

Intercontinental Exchange Price Performance

ICE stock opened at $157.25 on Wednesday. Intercontinental Exchange Inc. has a 1 year low of $142.29 and a 1 year high of $189.35. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.01. The stock’s 50 day moving average price is $167.48 and its 200 day moving average price is $173.71. The firm has a market cap of $90.01 billion, a P/E ratio of 30.18, a PEG ratio of 2.23 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, July 31st. The financial services provider reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.77 by $0.04. The company had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $2.50 billion. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.Intercontinental Exchange’s revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.52 EPS. On average, sell-side analysts expect that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CTO Mayur Kapani sold 10,082 shares of the company’s stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $158.88, for a total transaction of $1,601,828.16. Following the completion of the sale, the chief technology officer directly owned 65,240 shares in the company, valued at $10,365,331.20. This represents a 13.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, General Counsel Andrew J. Surdykowski sold 3,850 shares of the company’s stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $178.33, for a total value of $686,570.50. Following the sale, the general counsel owned 46,293 shares of the company’s stock, valued at approximately $8,255,430.69. The trade was a 7.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 240,162 shares of company stock worth $43,642,652 in the last three months. 1.00% of the stock is currently owned by insiders.

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.