Milford Funds Ltd. purchased a new stake in shares of Intercontinental Exchange Inc. (NYSE:ICE – Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 155,075 shares of the financial services provider’s stock, valued at approximately $25,116,000.
A number of other hedge funds and other institutional investors have also modified their holdings of ICE. Ares Financial Consulting LLC bought a new position in shares of Intercontinental Exchange during the 4th quarter valued at $25,000. Holos Integrated Wealth LLC bought a new position in shares of Intercontinental Exchange during the 4th quarter valued at $28,000. Steph & Co. raised its holdings in shares of Intercontinental Exchange by 104.7% during the 4th quarter. Steph & Co. now owns 174 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 89 shares in the last quarter. Swiss RE Ltd. bought a new position in shares of Intercontinental Exchange during the 4th quarter valued at $28,000. Finally, Dorato Capital Management bought a new position in shares of Intercontinental Exchange during the 4th quarter valued at $29,000. Institutional investors own 89.30% of the company’s stock.
Intercontinental Exchange Stock Performance
NYSE:ICE opened at $140.26 on Friday. The firm’s 50-day moving average is $154.22 and its 200-day moving average is $159.27. Intercontinental Exchange Inc. has a 52-week low of $136.67 and a 52-week high of $189.35. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market cap of $79.32 billion, a price-to-earnings ratio of 20.42, a PEG ratio of 1.33 and a beta of 0.92.
Insider Buying and Selling at Intercontinental Exchange
In other news, CFO Warren Gardiner sold 2,490 shares of Intercontinental Exchange stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $156.64, for a total transaction of $390,033.60. Following the sale, the chief financial officer directly owned 25,189 shares in the company, valued at approximately $3,945,604.96. The trade was a 9.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sharon Bowen sold 667 shares of Intercontinental Exchange stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $151.28, for a total transaction of $100,903.76. Following the sale, the director owned 15,077 shares in the company, valued at approximately $2,280,848.56. This trade represents a 4.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 12,092 shares of company stock valued at $1,860,424 in the last 90 days. Insiders own 0.84% of the company’s stock.
Analyst Ratings Changes
A number of research analysts have recently weighed in on ICE shares. Rothschild & Co Redburn set a $177.00 price target on shares of Intercontinental Exchange in a report on Thursday. Deutsche Bank Aktiengesellschaft upgraded shares of Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 target price on the stock in a report on Friday, March 6th. Keefe, Bruyette & Woods began coverage on shares of Intercontinental Exchange in a report on Wednesday, April 8th. They issued an “outperform” rating and a $190.00 target price on the stock. UBS Group reiterated a “buy” rating and issued a $205.00 target price on shares of Intercontinental Exchange in a report on Wednesday, May 20th. Finally, Barclays reiterated an “overweight” rating and issued a $201.00 target price (up from $198.00) on shares of Intercontinental Exchange in a report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Intercontinental Exchange presently has a consensus rating of “Moderate Buy” and a consensus price target of $193.00.
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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