Caldwell Investment Management Ltd. Takes $12.30 Million Position in Intercontinental Exchange Inc. $ICE

Caldwell Investment Management Ltd. bought a new stake in Intercontinental Exchange Inc. (NYSE:ICE) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 100,000 shares of the financial services provider’s stock, valued at approximately $12,302,000. Intercontinental Exchange comprises approximately 8.1% of Caldwell Investment Management Ltd.’s investment portfolio, making the stock its 5th biggest position.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ICE. PNC Financial Services Group Inc. raised its holdings in Intercontinental Exchange by 5.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 191,658 shares of the financial services provider’s stock valued at $31,041,000 after buying an additional 10,742 shares during the period. BlackRock Inc. purchased a new stake in Intercontinental Exchange during the second quarter worth approximately $6,245,085,000. USS Investment Management Ltd increased its position in shares of Intercontinental Exchange by 37.2% in the first quarter. USS Investment Management Ltd now owns 946,920 shares of the financial services provider’s stock worth $148,960,000 after acquiring an additional 256,851 shares in the last quarter. Walter Public Investments Inc. increased its position in shares of Intercontinental Exchange by 13.8% in the fourth quarter. Walter Public Investments Inc. now owns 124,993 shares of the financial services provider’s stock worth $20,244,000 after acquiring an additional 15,129 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Intercontinental Exchange by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 54,153,170 shares of the financial services provider’s stock valued at $8,770,647,000 after acquiring an additional 413,639 shares during the period. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ICE has been the topic of a number of recent research reports. Raymond James Financial set a $208.00 price objective on Intercontinental Exchange in a research note on Monday, July 6th. Wall Street Zen upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Saturday. Piper Sandler dropped their target price on Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating on the stock in a report on Wednesday, July 15th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $178.00 price target on shares of Intercontinental Exchange in a research report on Friday, July 31st. Finally, Morgan Stanley decreased their price target on Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating for the company in a report on Friday, July 10th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Intercontinental Exchange currently has a consensus rating of “Moderate Buy” and a consensus price target of $183.33.

Intercontinental Exchange Stock Up 1.7%

Shares of Intercontinental Exchange stock opened at $161.29 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $90.55 billion, a price-to-earnings ratio of 22.78, a PEG ratio of 1.56 and a beta of 0.92. Intercontinental Exchange Inc. has a twelve month low of $121.79 and a twelve month high of $181.65. The business’s 50 day simple moving average is $142.34 and its 200-day simple moving average is $151.69.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.84 by $0.06. The company had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $2.63 billion. Intercontinental Exchange had a return on equity of 14.95% and a net margin of 30.08%.The business’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.81 earnings per share. Equities research analysts forecast that Intercontinental Exchange Inc. will post 8.11 earnings per share for the current year.

Insider Activity at Intercontinental Exchange

In other news, Director William Jefferson Hague sold 1,333 shares of the company’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $139.46, for a total transaction of $185,900.18. Following the completion of the sale, the director directly owned 20,132 shares of the company’s stock, valued at $2,807,608.72. This represents a 6.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Warren Gardiner sold 2,491 shares of the stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $156.30, for a total value of $389,343.30. Following the completion of the transaction, the chief financial officer owned 22,698 shares of the company’s stock, valued at $3,547,697.40. This trade represents a 9.89% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 20,200 shares of company stock worth $3,035,385. 0.84% of the stock is owned by corporate insiders.

Intercontinental Exchange Company 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.