Ninety One UK Ltd Buys 283,799 Shares of Intercontinental Exchange Inc. $ICE

Ninety One UK Ltd boosted its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 23.1% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 1,513,558 shares of the financial services provider’s stock after acquiring an additional 283,799 shares during the period. Ninety One UK Ltd’s holdings in Intercontinental Exchange were worth $277,692,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Advisors Capital Management LLC boosted its holdings in shares of Intercontinental Exchange by 25.0% during the 1st quarter. Advisors Capital Management LLC now owns 1,978 shares of the financial services provider’s stock worth $341,000 after buying an additional 396 shares in the last quarter. Capital Investment Advisory Services LLC bought a new position in shares of Intercontinental Exchange during the 1st quarter worth approximately $349,000. Sequoia Financial Advisors LLC boosted its holdings in shares of Intercontinental Exchange by 18.3% during the 1st quarter. Sequoia Financial Advisors LLC now owns 12,168 shares of the financial services provider’s stock worth $2,099,000 after buying an additional 1,879 shares in the last quarter. Ritholtz Wealth Management boosted its holdings in shares of Intercontinental Exchange by 52.3% during the 1st quarter. Ritholtz Wealth Management now owns 7,953 shares of the financial services provider’s stock worth $1,372,000 after buying an additional 2,732 shares in the last quarter. Finally, First American Bank boosted its holdings in shares of Intercontinental Exchange by 2.1% during the 1st quarter. First American Bank now owns 76,332 shares of the financial services provider’s stock worth $13,167,000 after buying an additional 1,580 shares in the last quarter. 89.30% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ICE. JPMorgan Chase & Co. increased their price target on Intercontinental Exchange from $195.00 to $203.00 and gave the stock an “overweight” rating in a report on Thursday, September 25th. Piper Sandler upped their target price on Intercontinental Exchange from $180.00 to $202.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 15th. Barclays upped their target price on Intercontinental Exchange from $206.00 to $212.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Finally, UBS Group upped their target price on Intercontinental Exchange from $195.00 to $210.00 and gave the stock a “buy” rating in a research report on Tuesday, July 8th. Nine equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $197.36.

Intercontinental Exchange Trading Up 0.2%

NYSE ICE opened at $168.26 on Wednesday. The firm has a market capitalization of $96.32 billion, a P/E ratio of 32.30, a PEG ratio of 2.01 and a beta of 1.10. The business has a fifty day simple moving average of $177.79 and a 200 day simple moving average of $174.91. Intercontinental Exchange Inc. has a 12 month low of $142.29 and a 12 month high of $189.35. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, July 31st. The financial services provider reported $1.81 EPS for the quarter, beating analysts’ consensus estimates of $1.77 by $0.04. The business had revenue of $3.26 billion during the quarter, compared to analyst estimates of $2.50 billion. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.Intercontinental Exchange’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.52 EPS. On average, analysts predict that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Judith A. Sprieser sold 2,900 shares of the stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $174.51, for a total value of $506,079.00. Following the completion of the sale, the director directly owned 18,169 shares of the company’s stock, valued at approximately $3,170,672.19. This represents a 13.76% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 3,850 shares of the stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $178.33, for a total value of $686,570.50. Following the completion of the sale, the general counsel directly owned 46,293 shares of the company’s stock, valued at $8,255,430.69. The trade was a 7.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 230,874 shares of company stock worth $42,187,714 in the last three months. 1.00% of the stock is owned by corporate insiders.

Intercontinental Exchange Company Profile

Intercontinental Exchange, Inc, together with its subsidiaries, engages in the provision of market infrastructure, data services, and technology solutions for financial institutions, corporations, and government entities in the United States, the United Kingdom, the European Union, Singapore, India, Abu Dhabi, Israel, and Canada.