AlphaQuest LLC Has $1.49 Million Stake in Intercontinental Exchange Inc. $ICE

AlphaQuest LLC decreased its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 39.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,116 shares of the financial services provider’s stock after selling 5,386 shares during the period. AlphaQuest LLC’s holdings in Intercontinental Exchange were worth $1,489,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in ICE. Vanguard Group Inc. increased its holdings in Intercontinental Exchange by 1.4% in the first quarter. Vanguard Group Inc. now owns 52,940,356 shares of the financial services provider’s stock worth $9,132,211,000 after buying an additional 712,179 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Intercontinental Exchange by 491.3% in the first 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 buying an additional 5,345,388 shares during the last quarter. Amundi increased its holdings in Intercontinental Exchange by 14.7% in the first quarter. Amundi now owns 6,315,706 shares of the financial services provider’s stock worth $1,060,574,000 after buying an additional 810,938 shares during the last quarter. Independent Franchise Partners LLP increased its holdings in Intercontinental Exchange by 0.5% in the first quarter. Independent Franchise Partners LLP now owns 6,192,424 shares of the financial services provider’s stock worth $1,068,193,000 after buying an additional 31,588 shares during the last quarter. Finally, Wellington Management Group LLP increased its holdings in Intercontinental Exchange by 113.9% in the first quarter. Wellington Management Group LLP now owns 5,943,363 shares of the financial services provider’s stock worth $1,025,230,000 after buying an additional 3,165,381 shares during the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on ICE shares. Raymond James Financial upgraded Intercontinental Exchange from an “outperform” rating to a “strong-buy” rating and set a $210.00 price objective on the stock in a report on Monday, October 13th. UBS Group increased their price target on Intercontinental Exchange from $195.00 to $210.00 and gave the company a “buy” rating in a report on Tuesday, July 8th. Keefe, Bruyette & Woods upgraded Intercontinental Exchange to a “moderate buy” rating in a report on Monday, October 6th. Piper Sandler increased their price target on Intercontinental Exchange from $180.00 to $202.00 and gave the company an “overweight” rating in a report on Tuesday, July 15th. Finally, Morgan Stanley lowered their price target on Intercontinental Exchange from $188.00 to $178.00 and set an “equal weight” rating on the stock in a report on Tuesday. One investment 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 data from MarketBeat, Intercontinental Exchange has an average rating of “Moderate Buy” and a consensus target price of $198.60.

Insider Buying and Selling

In other news, Director Judith A. Sprieser sold 2,900 shares of the stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $174.51, for a total value of $506,079.00. Following the completion of the sale, the director directly owned 18,169 shares of the company’s stock, valued at approximately $3,170,672.19. This represents a 13.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Duriya M. Farooqui sold 2,036 shares of the firm’s stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $178.34, for a total value of $363,100.24. Following the completion of the transaction, the director directly owned 14,299 shares of the company’s stock, valued at approximately $2,550,083.66. This trade represents a 12.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 240,162 shares of company stock valued at $43,642,652 in the last ninety days. Company insiders own 1.00% of the company’s stock.

Intercontinental Exchange Stock Up 0.2%

ICE opened at $157.71 on Friday. Intercontinental Exchange Inc. has a 1-year low of $142.29 and a 1-year high of $189.35. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $90.28 billion, a price-to-earnings ratio of 30.27, a P/E/G ratio of 2.20 and a beta of 1.08. The business has a 50 day moving average of $168.26 and a 200-day moving average of $173.41.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data 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. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.The company had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $2.50 billion. During the same period in the prior year, the business earned $1.52 earnings per share. Intercontinental Exchange’s revenue for the quarter was up 9.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

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.