Intercontinental Exchange Inc. $ICE Position Reduced by Ruane Cunniff & Goldfarb L.P.

Ruane Cunniff & Goldfarb L.P. lessened its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 1.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,703,907 shares of the financial services provider’s stock after selling 39,384 shares during the period. Intercontinental Exchange accounts for about 6.8% of Ruane Cunniff & Goldfarb L.P.’s portfolio, making the stock its 6th largest position. Ruane Cunniff & Goldfarb L.P.’s holdings in Intercontinental Exchange were worth $437,925,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently added to or reduced their stakes in ICE. PNC Financial Services Group Inc. increased its position in Intercontinental Exchange by 5.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 191,658 shares of the financial services provider’s stock valued at $31,041,000 after purchasing an additional 10,742 shares during the period. M&G PLC increased its position in Intercontinental Exchange by 18.4% during the 3rd quarter. M&G PLC now owns 107,070 shares of the financial services provider’s stock valued at $17,988,000 after purchasing an additional 16,635 shares during the period. Dover Advisors LLC purchased a new position in Intercontinental Exchange during the 3rd quarter valued at about $710,000. Caprock Group LLC purchased a new position in Intercontinental Exchange during the 3rd quarter valued at about $2,788,000. Finally, Advisors Preferred LLC increased its position in Intercontinental Exchange by 284.5% during the 3rd quarter. Advisors Preferred LLC now owns 43,645 shares of the financial services provider’s stock valued at $7,098,000 after purchasing an additional 32,295 shares during the period. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Up 0.9%

Shares of Intercontinental Exchange stock opened at $140.26 on Friday. The firm’s 50 day moving average price is $154.22 and its 200-day moving average price is $159.27. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63. Intercontinental Exchange Inc. has a 52-week low of $136.67 and a 52-week high of $189.35. The company has a market cap of $79.32 billion, a P/E ratio of 20.42, a PEG ratio of 1.33 and a beta of 0.92.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, April 30th. The financial services provider reported $2.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.23 by $0.12. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The firm had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $2.88 billion. During the same quarter in the previous year, the firm earned $1.72 EPS. The company’s quarterly revenue was up 20.4% compared to the same quarter last year. On average, sell-side analysts predict that Intercontinental Exchange Inc. will post 8.16 EPS for the current fiscal year.

Insider Activity

In other news, CFO Warren Gardiner sold 2,490 shares of Intercontinental Exchange stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $156.64, for a total value of $390,033.60. Following the transaction, the chief financial officer owned 25,189 shares of the company’s stock, valued at $3,945,604.96. The trade was a 9.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Mayur Kapani sold 4,271 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $155.42, for a total transaction of $663,798.82. Following the completion of the transaction, the chief technology officer directly owned 64,869 shares in the company, valued at approximately $10,081,939.98. The trade was a 6.18% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 12,092 shares of company stock worth $1,860,424 in the last quarter. 0.84% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have commented on ICE. Barclays reissued an “overweight” rating and set a $201.00 target price (up from $198.00) on shares of Intercontinental Exchange in a research report on Friday, May 1st. Rothschild & Co Redburn set a $177.00 target price on shares of Intercontinental Exchange in a research report on Thursday. Piper Sandler reissued an “overweight” rating and set a $211.00 target price (up from $195.00) on shares of Intercontinental Exchange in a research report on Wednesday, April 15th. Deutsche Bank Aktiengesellschaft raised shares of Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 target price on the stock in a research report on Friday, March 6th. Finally, UBS Group reissued a “buy” rating and set a $205.00 target price on shares of Intercontinental Exchange in a research report on Wednesday, May 20th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $193.00.

Intercontinental Exchange Profile

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.