Clearbridge Investments LLC increased its position in Intercontinental Exchange Inc. (NYSE:ICE – Free Report) by 48.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,269,826 shares of the financial services provider’s stock after acquiring an additional 744,388 shares during the period. Clearbridge Investments LLC’s holdings in Intercontinental Exchange were worth $367,621,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of ICE. Ares Financial Consulting LLC purchased a new position in Intercontinental Exchange during the fourth quarter valued at $25,000. Holos Integrated Wealth LLC purchased a new position in Intercontinental Exchange during the fourth quarter valued at $28,000. Steph & Co. lifted its position in Intercontinental Exchange by 104.7% during the fourth 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. Dorato Capital Management purchased a new position in Intercontinental Exchange during the fourth quarter valued at $29,000. Finally, Lloyd Advisory Services LLC. purchased a new position in Intercontinental Exchange during the fourth quarter valued at $30,000. Institutional investors own 89.30% of the company’s stock.
Intercontinental Exchange Price Performance
Shares of Intercontinental Exchange stock opened at $141.36 on Friday. The stock’s 50-day simple moving average is $155.83 and its 200-day simple moving average is $159.72. Intercontinental Exchange Inc. has a 52 week low of $136.67 and a 52 week high of $189.35. The company has a market capitalization of $79.94 billion, a price-to-earnings ratio of 20.58, a PEG ratio of 1.36 and a beta of 0.92. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63.
Analysts Set New Price Targets
Several equities analysts recently weighed in on the company. Weiss Ratings downgraded Intercontinental Exchange from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday. Morgan Stanley lifted their target price on Intercontinental Exchange from $183.00 to $187.00 and gave the company an “equal weight” rating in a research report on Friday, April 10th. Deutsche Bank Aktiengesellschaft upgraded Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 target price on the stock in a research report on Friday, March 6th. Barclays reiterated an “overweight” rating and set a $201.00 target price (up from $198.00) on shares of Intercontinental Exchange in a research report on Friday, May 1st. Finally, Piper Sandler reiterated an “overweight” rating and set a $211.00 target price (up from $195.00) on shares of Intercontinental Exchange in a research report on Wednesday, April 15th. One equities 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 company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $194.60.
Check Out Our Latest Analysis on ICE
Insiders Place Their Bets
In other news, Director Sharon Bowen sold 667 shares of the business’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $151.28, for a total value of $100,903.76. Following the transaction, the director directly owned 15,077 shares in the company, valued at $2,280,848.56. The trade was a 4.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Warren Gardiner sold 2,490 shares of the business’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $156.64, for a total value of $390,033.60. Following the completion of the transaction, the chief financial officer owned 25,189 shares in the company, valued at $3,945,604.96. The trade was a 9.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 12,001 shares of company stock valued at $1,847,820 over the last three months. Insiders own 0.84% of the company’s stock.
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.
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