Nicholas Company Inc. grew its holdings in Intercontinental Exchange Inc. (NYSE:ICE – Free Report) by 10.1% in the fourth quarter, HoldingsChannel reports. The fund owned 437,155 shares of the financial services provider’s stock after buying an additional 40,240 shares during the period. Intercontinental Exchange accounts for 1.2% of Nicholas Company Inc.’s portfolio, making the stock its 21st largest position. Nicholas Company Inc.’s holdings in Intercontinental Exchange were worth $70,802,000 at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of the business. National Mutual Insurance Federation of Agricultural Cooperatives boosted its position in shares of Intercontinental Exchange by 26.9% in the fourth quarter. National Mutual Insurance Federation of Agricultural Cooperatives now owns 203,000 shares of the financial services provider’s stock valued at $32,878,000 after acquiring an additional 43,000 shares during the period. Swiss Life Asset Management Ltd boosted its position in shares of Intercontinental Exchange by 9.4% in the fourth quarter. Swiss Life Asset Management Ltd now owns 111,178 shares of the financial services provider’s stock valued at $18,006,000 after acquiring an additional 9,510 shares during the period. Naples Global Advisors LLC boosted its position in shares of Intercontinental Exchange by 18.9% in the fourth quarter. Naples Global Advisors LLC now owns 16,951 shares of the financial services provider’s stock valued at $2,745,000 after acquiring an additional 2,694 shares during the period. Income Insurance Ltd bought a new stake in Intercontinental Exchange during the fourth quarter worth about $276,000. Finally, Altman Advisors Inc. lifted its position in Intercontinental Exchange by 0.8% during the fourth quarter. Altman Advisors Inc. now owns 13,149 shares of the financial services provider’s stock worth $2,130,000 after purchasing an additional 103 shares during the period. Institutional investors own 89.30% of the company’s stock.
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on ICE shares. Barclays reaffirmed an “overweight” rating and set a $201.00 price objective (up from $198.00) on shares of Intercontinental Exchange in a research report on Friday, May 1st. Piper Sandler reaffirmed an “overweight” rating and set a $211.00 price objective (up from $195.00) on shares of Intercontinental Exchange in a research report on Wednesday, April 15th. Wall Street Zen raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. TD Cowen reaffirmed a “buy” rating on shares of Intercontinental Exchange in a research report on Friday, February 6th. Finally, Keefe, Bruyette & Woods started coverage on shares of Intercontinental Exchange in a research report on Wednesday, April 8th. They set an “outperform” rating and a $190.00 price objective for the company. One equities research 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, Intercontinental Exchange has a consensus rating of “Buy” and an average price target of $194.10.
Intercontinental Exchange Stock Down 0.0%
ICE stock opened at $155.76 on Monday. The stock has a market capitalization of $88.09 billion, a P/E ratio of 22.67, a price-to-earnings-growth ratio of 1.44 and a beta of 0.96. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63. Intercontinental Exchange Inc. has a 12 month low of $143.17 and a 12 month high of $189.35. The firm has a 50-day moving average price of $160.25 and a 200-day moving average price of $160.01.
Intercontinental Exchange (NYSE:ICE – Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The financial services provider reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.23 by $0.12. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The company had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $2.88 billion. During the same quarter in the prior year, the firm posted $1.72 earnings per share. The firm’s revenue was up 20.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Intercontinental Exchange Inc. will post 8.16 EPS for the current fiscal year.
Insider Buying and Selling
In other news, insider Christopher Scott Edmonds sold 11,303 shares of the company’s stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $153.82, for a total value of $1,738,627.46. Following the completion of the transaction, the insider owned 14,266 shares of the company’s stock, valued at $2,194,396.12. This represents a 44.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Lynn C. Martin sold 13,456 shares of the company’s stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $153.86, for a total value of $2,070,340.16. Following the completion of the transaction, the insider directly owned 54,319 shares of the company’s stock, valued at $8,357,521.34. This represents a 19.85% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 343,696 shares of company stock valued at $53,397,715 over the last three months. Insiders own 0.84% of the company’s stock.
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.
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