J. Stern & Co. LLP grew its stake in Intercontinental Exchange Inc. (NYSE:ICE – Free Report) by 17,398.1% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 54,107,273 shares of the financial services provider’s stock after buying an additional 53,798,055 shares during the period. Intercontinental Exchange makes up 2.7% of J. Stern & Co. LLP’s investment portfolio, making the stock its 13th largest position. J. Stern & Co. LLP owned 0.10% of Intercontinental Exchange worth $8,763,214,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in ICE. Ares Financial Consulting LLC purchased a new position in shares of Intercontinental Exchange in the fourth quarter worth $25,000. Holos Integrated Wealth LLC acquired a new stake in shares of Intercontinental Exchange in the fourth quarter worth $28,000. Steph & Co. increased its stake in shares of Intercontinental Exchange by 104.7% in the fourth quarter. Steph & Co. now owns 174 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 89 shares during the period. Brooklands Fund Management Ltd acquired a new stake in shares of Intercontinental Exchange in the fourth quarter worth $28,000. Finally, Swiss RE Ltd. acquired a new stake in shares of Intercontinental Exchange in the fourth quarter worth $28,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.
Intercontinental Exchange Stock Up 0.6%
ICE stock opened at $140.95 on Wednesday. The firm has a market cap of $79.71 billion, a PE ratio of 20.52, a P/E/G ratio of 1.34 and a beta of 0.92. 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 firm’s fifty day moving average is $153.32 and its 200 day moving average is $159.10. Intercontinental Exchange Inc. has a one year low of $136.67 and a one year high of $189.35.
Wall Street Analysts Forecast Growth
ICE has been the topic of a number of research reports. Weiss Ratings lowered shares of Intercontinental Exchange from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, June 2nd. Piper Sandler reiterated an “overweight” rating and issued a $211.00 price objective (up from $195.00) on shares of Intercontinental Exchange in a research note on Wednesday, April 15th. Morgan Stanley increased their price objective on shares of Intercontinental Exchange from $183.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Friday, April 10th. Deutsche Bank Aktiengesellschaft upgraded shares of Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 price objective on the stock in a research note on Friday, March 6th. Finally, Rothschild & Co Redburn set a $177.00 price objective on shares of Intercontinental Exchange in a research note on Thursday, June 11th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $193.00.
Read Our Latest Research Report on Intercontinental Exchange
Insider Activity at Intercontinental Exchange
In related news, CTO Mayur Kapani sold 4,271 shares of the firm’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $155.42, for a total transaction of $663,798.82. Following the sale, the chief technology officer owned 64,869 shares in the company, valued at approximately $10,081,939.98. This trade represents a 6.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 4,573 shares of the firm’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $151.56, for a total transaction of $693,083.88. Following the sale, the general counsel owned 45,473 shares in the company, valued at approximately $6,891,887.88. This represents a 9.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 13,425 shares of company stock valued at $2,046,324 in the last quarter. 0.84% of the stock is currently owned by insiders.
About Intercontinental Exchange
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.
Read More
- Five stocks we like better than Intercontinental Exchange
- Gravity Check: Houston, SpaceX Has a Valuation Problem
- Strategy’s Bitcoin Rally Has a Hidden Engine
- Okta’s AI Moment May Be Bigger Than Investors Realize
- 3 Rate-Ready Stocks for the New Fed Chair’s First Big Test
Want to see what other hedge funds are holding ICE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Intercontinental Exchange Inc. (NYSE:ICE – Free Report).
Receive News & Ratings for Intercontinental Exchange Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intercontinental Exchange and related companies with MarketBeat.com's FREE daily email newsletter.
