Wellspring Financial Advisors LLC bought a new stake in Intercontinental Exchange Inc. (NYSE:ICE – Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 8,667 shares of the financial services provider’s stock, valued at approximately $1,404,000.
Several other institutional investors have also recently added to or reduced their stakes in ICE. Zions Bancorporation National Association UT grew its holdings in Intercontinental Exchange by 550.0% in the 4th quarter. Zions Bancorporation National Association UT now owns 2,197 shares of the financial services provider’s stock valued at $356,000 after buying an additional 1,859 shares during the period. Motley Fool Asset Management LLC grew its holdings in Intercontinental Exchange by 34.2% in the 4th quarter. Motley Fool Asset Management LLC now owns 53,037 shares of the financial services provider’s stock valued at $8,590,000 after buying an additional 13,520 shares during the period. North Dallas Bank & Trust Co. purchased a new stake in Intercontinental Exchange in the 4th quarter valued at about $965,000. Pettyjohn Wood & White Inc. grew its holdings in Intercontinental Exchange by 4.1% in the 4th quarter. Pettyjohn Wood & White Inc. now owns 19,314 shares of the financial services provider’s stock valued at $3,128,000 after buying an additional 766 shares during the period. Finally, LGT Capital Partners LTD. grew its holdings in Intercontinental Exchange by 12.5% in the 4th quarter. LGT Capital Partners LTD. now owns 243,138 shares of the financial services provider’s stock valued at $39,379,000 after buying an additional 26,925 shares during the period. Institutional investors and hedge funds own 89.30% of the company’s stock.
Analyst Ratings Changes
Several analysts have commented on ICE shares. Piper Sandler restated an “overweight” rating and issued a $211.00 price target (up from $195.00) on shares of Intercontinental Exchange in a report on Wednesday, April 15th. Keefe, Bruyette & Woods started coverage on Intercontinental Exchange in a report on Wednesday, April 8th. They issued an “outperform” rating and a $190.00 price target for the company. UBS Group restated a “buy” rating and issued a $205.00 price target on shares of Intercontinental Exchange in a report on Wednesday, May 20th. Weiss Ratings cut Intercontinental Exchange from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, June 2nd. Finally, Barclays restated an “overweight” rating and issued a $201.00 price target (up from $198.00) on shares of Intercontinental Exchange in a report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Intercontinental Exchange currently has an average rating of “Moderate Buy” and a consensus price target of $194.60.
Insider Transactions at Intercontinental Exchange
In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 4,573 shares of the company’s stock in a transaction that occurred on 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 transaction, the general counsel owned 45,473 shares in the company, valued at $6,891,887.88. This represents a 9.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sharon Bowen sold 667 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $151.28, for a total value of $100,903.76. Following the completion of the transaction, the director owned 15,077 shares of the company’s stock, valued at approximately $2,280,848.56. This 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 over the last 90 days. Company insiders own 0.84% of the company’s stock.
Intercontinental Exchange Stock Down 0.8%
Shares of NYSE:ICE opened at $140.45 on Thursday. 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 $136.67 and a 1 year high of $189.35. The stock has a market capitalization of $79.43 billion, a P/E ratio of 20.44, a PEG ratio of 1.36 and a beta of 0.92. The stock has a 50-day simple moving average of $154.94 and a 200-day simple moving average of $159.52.
Intercontinental Exchange (NYSE:ICE – Get Free Report) last issued its 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 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 analysts’ expectations of $2.88 billion. During the same quarter in the previous year, the business earned $1.72 EPS. The company’s revenue for the quarter was up 20.4% on a year-over-year basis. Equities analysts forecast that Intercontinental Exchange Inc. will post 8.16 earnings per share for the current year.
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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