Lawood & Co. Acquires Shares of 5,197 Intercontinental Exchange Inc. $ICE

Lawood & Co. acquired a new stake in shares of Intercontinental Exchange Inc. (NYSE:ICEFree Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,197 shares of the financial services provider’s stock, valued at approximately $842,000.

A number of other institutional investors also recently modified their holdings of the company. Brighton Jones LLC lifted its holdings in Intercontinental Exchange by 51.3% in the 4th quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider’s stock worth $514,000 after buying an additional 1,169 shares during the period. Empowered Funds LLC raised its holdings in shares of Intercontinental Exchange by 9.0% during the first quarter. Empowered Funds LLC now owns 14,396 shares of the financial services provider’s stock valued at $2,483,000 after acquiring an additional 1,189 shares in the last quarter. Sivia Capital Partners LLC lifted its stake in Intercontinental Exchange by 16.2% in the second quarter. Sivia Capital Partners LLC now owns 2,078 shares of the financial services provider’s stock worth $381,000 after acquiring an additional 289 shares during the period. NewEdge Advisors LLC boosted its holdings in Intercontinental Exchange by 27.9% in the second quarter. NewEdge Advisors LLC now owns 21,213 shares of the financial services provider’s stock valued at $3,892,000 after acquiring an additional 4,628 shares in the last quarter. Finally, Treasurer of the State of North Carolina lifted its position in shares of Intercontinental Exchange by 2.4% in the 2nd quarter. Treasurer of the State of North Carolina now owns 266,496 shares of the financial services provider’s stock worth $48,894,000 after purchasing an additional 6,373 shares during the period. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Wall Street Zen upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. Morgan Stanley increased their price objective on Intercontinental Exchange from $183.00 to $187.00 and gave the stock an “equal weight” rating in a report on Friday, April 10th. TD Cowen reiterated a “buy” rating on shares of Intercontinental Exchange in a research note on Friday, February 6th. Weiss Ratings lowered shares of Intercontinental Exchange from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, April 24th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $211.00 target price (up from $195.00) on shares of Intercontinental Exchange in a research note on Wednesday, April 15th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $194.10.

Check Out Our Latest Report on ICE

Insiders Place Their Bets

In other news, CTO Mayur Kapani sold 15,213 shares of the company’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $155.02, for a total value of $2,358,319.26. Following the transaction, the chief technology officer owned 64,869 shares in the company, valued at approximately $10,055,992.38. This represents a 19.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, General Counsel Andrew J. Surdykowski sold 4,571 shares of the stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $162.00, for a total transaction of $740,502.00. Following the sale, the general counsel owned 48,181 shares in the company, valued at approximately $7,805,322. The trade was a 8.67% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 330,835 shares of company stock valued at $51,275,650. 0.84% of the stock is owned by company insiders.

Intercontinental Exchange Price Performance

Shares of NYSE:ICE opened at $154.48 on Friday. The business has a fifty day moving average price of $159.26 and a 200-day moving average price of $159.94. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market capitalization of $87.36 billion, a PE ratio of 22.49, a PEG ratio of 1.44 and a beta of 0.96. Intercontinental Exchange Inc. has a 1-year low of $143.17 and a 1-year high of $189.35.

Intercontinental Exchange (NYSE:ICEGet Free Report) last announced its quarterly earnings results 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 company had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $2.88 billion. During the same quarter in the previous year, the business posted $1.72 EPS. Intercontinental Exchange’s revenue was up 20.4% compared to the same quarter last year. As a group, equities analysts expect that Intercontinental Exchange Inc. will post 8.16 EPS for the current fiscal year.

About Intercontinental Exchange

(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.

Further Reading

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

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