Cinctive Capital Management LP Buys Shares of 47,454 Intercontinental Exchange Inc. $ICE

Cinctive Capital Management LP bought a new stake in Intercontinental Exchange Inc. (NYSE:ICEFree Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 47,454 shares of the financial services provider’s stock, valued at approximately $7,686,000.

A number of other institutional investors also recently bought and sold shares of the company. Claar Advisors LLC lifted its holdings in Intercontinental Exchange by 0.3% in the fourth quarter. Claar Advisors LLC now owns 57,654 shares of the financial services provider’s stock valued at $9,338,000 after acquiring an additional 150 shares during the period. City National Bank of Florida MSD lifted its holdings in Intercontinental Exchange by 10.7% in the fourth quarter. City National Bank of Florida MSD now owns 2,474 shares of the financial services provider’s stock valued at $401,000 after acquiring an additional 239 shares during the period. Aristotle Atlantic Partners LLC lifted its holdings in Intercontinental Exchange by 9.8% in the fourth quarter. Aristotle Atlantic Partners LLC now owns 194,429 shares of the financial services provider’s stock valued at $31,490,000 after acquiring an additional 17,433 shares during the period. Balyasny Asset Management L.P. lifted its holdings in Intercontinental Exchange by 175.7% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,176,627 shares of the financial services provider’s stock valued at $190,567,000 after acquiring an additional 749,783 shares during the period. Finally, Banco Bilbao Vizcaya Argentaria S.A. raised its stake in shares of Intercontinental Exchange by 18.6% in the fourth quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 42,139 shares of the financial services provider’s stock worth $6,837,000 after buying an additional 6,614 shares during the period. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Performance

NYSE:ICE opened at $134.41 on Thursday. 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 $133.73 and a 12-month high of $189.35. The stock has a 50-day moving average price of $152.67 and a 200 day moving average price of $158.94. The stock has a market capitalization of $76.01 billion, a P/E ratio of 19.56, a P/E/G ratio of 1.35 and a beta of 0.92.

Intercontinental Exchange (NYSE:ICEGet Free Report) last released its earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $2.88 billion. During the same quarter last year, the business posted $1.72 earnings per share. The firm’s revenue was up 20.4% on a year-over-year basis. Equities research analysts forecast that Intercontinental Exchange Inc. will post 8.16 EPS for the current fiscal year.

Insider Activity

In related news, CFO Warren Gardiner sold 2,490 shares of the stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $156.64, for a total transaction of $390,033.60. Following the completion of the sale, the chief financial officer owned 25,189 shares in the company, valued at approximately $3,945,604.96. This trade represents a 9.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 4,573 shares of the stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $151.56, for a total value of $693,083.88. Following the sale, the general counsel owned 45,473 shares of the company’s stock, valued at $6,891,887.88. This represents a 9.14% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 13,425 shares of company stock valued at $2,046,324 in the last three months. 0.84% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

ICE has been the topic of several recent research reports. Rothschild & Co Redburn set a $177.00 price objective on Intercontinental Exchange in a research note on Thursday, June 11th. Keefe, Bruyette & Woods initiated coverage on Intercontinental Exchange in a research note on Wednesday, April 8th. They issued an “outperform” rating and a $190.00 price objective on the stock. Piper Sandler reaffirmed 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. Deutsche Bank Aktiengesellschaft raised 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, Morgan Stanley raised their price objective on Intercontinental Exchange from $183.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Friday, April 10th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Intercontinental Exchange currently has an average rating of “Moderate Buy” and a consensus target price of $193.00.

Read Our Latest Stock Report on ICE

Intercontinental Exchange Company Profile

(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

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

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