Intech Investment Management LLC Grows Stock Position in Intercontinental Exchange Inc. $ICE

Intech Investment Management LLC increased its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICEFree Report) by 18.1% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 76,622 shares of the financial services provider’s stock after purchasing an additional 11,764 shares during the quarter. Intech Investment Management LLC’s holdings in Intercontinental Exchange were worth $12,410,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. ICONIQ Capital LLC lifted its position in Intercontinental Exchange by 2.2% during the second quarter. ICONIQ Capital LLC now owns 2,621 shares of the financial services provider’s stock worth $481,000 after buying an additional 56 shares during the period. Mechanics Financial Corp lifted its position in Intercontinental Exchange by 1.0% during the fourth quarter. Mechanics Financial Corp now owns 6,138 shares of the financial services provider’s stock worth $994,000 after buying an additional 60 shares during the period. Mission Wealth Management LP increased its stake in Intercontinental Exchange by 2.4% during the fourth quarter. Mission Wealth Management LP now owns 2,611 shares of the financial services provider’s stock worth $423,000 after acquiring an additional 62 shares during the last quarter. Aaron Wealth Advisors LLC increased its stake in Intercontinental Exchange by 1.9% during the fourth quarter. Aaron Wealth Advisors LLC now owns 3,384 shares of the financial services provider’s stock worth $548,000 after acquiring an additional 63 shares during the last quarter. Finally, Evergreen Capital Management LLC increased its stake in Intercontinental Exchange by 1.5% during the fourth quarter. Evergreen Capital Management LLC now owns 4,207 shares of the financial services provider’s stock worth $681,000 after acquiring an additional 63 shares during the last quarter. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Intercontinental Exchange Price Performance

ICE stock opened at $147.85 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01. Intercontinental Exchange Inc. has a 1 year low of $143.17 and a 1 year high of $189.35. The firm has a market cap of $83.61 billion, a P/E ratio of 21.52, a price-to-earnings-growth ratio of 1.38 and a beta of 0.96. The stock has a 50-day simple moving average of $157.38 and a 200-day simple moving average of $160.07.

Intercontinental Exchange (NYSE:ICEGet Free Report) last posted its earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.23 by $0.12. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The business had revenue of $3.67 billion during the quarter, compared to analyst estimates of $2.88 billion. During the same quarter last year, the firm earned $1.72 earnings per share. The company’s revenue for the quarter was up 20.4% compared to the same quarter last year. On average, equities analysts predict that Intercontinental Exchange Inc. will post 8.15 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, General Counsel Andrew J. Surdykowski sold 4,573 shares of the stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $151.56, for a total value of $693,083.88. Following the completion of the sale, the general counsel owned 45,473 shares in the company, valued at approximately $6,891,887.88. This trade represents a 9.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Sharon Bowen sold 667 shares of the stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $151.28, for a total value of $100,903.76. Following the completion of the sale, the director owned 15,077 shares of the company’s stock, valued at approximately $2,280,848.56. This trade represents a 4.24% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 12,001 shares of company stock worth $1,847,820 in the last ninety days. 0.84% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on ICE shares. Piper Sandler restated an “overweight” rating and set a $211.00 price target (up from $195.00) on shares of Intercontinental Exchange in a research note on Wednesday, April 15th. Weiss Ratings lowered Intercontinental Exchange from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, April 24th. Deutsche Bank Aktiengesellschaft upgraded Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 price target for the company in a research note on Friday, March 6th. Morgan Stanley upped their price target on Intercontinental Exchange from $183.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Friday, April 10th. Finally, Wall Street Zen upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $194.60.

View Our Latest Analysis on ICE

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Intercontinental Exchange Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Intercontinental Exchange (NYSE:ICE)

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