Y Intercept Hong Kong Ltd acquired a new stake in Intercontinental Exchange Inc. (NYSE:ICE – Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 49,359 shares of the financial services provider’s stock, valued at approximately $7,763,000.
A number of other institutional investors have also recently added to or reduced their stakes in the business. Ares Financial Consulting LLC bought a new position in shares of Intercontinental Exchange during the fourth quarter valued at $25,000. Brooklands Fund Management Ltd bought a new stake in shares of Intercontinental Exchange in the fourth quarter worth $28,000. Dorato Capital Management bought a new stake in shares of Intercontinental Exchange in the fourth quarter worth $29,000. Swiss RE Ltd. acquired a new stake in Intercontinental Exchange in the fourth quarter valued at $28,000. Finally, Steph & Co. increased its holdings in Intercontinental Exchange by 104.7% in 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 during the period. 89.30% of the stock is owned by institutional investors.
Intercontinental Exchange Stock Performance
ICE stock opened at $132.57 on Friday. The stock has a 50-day moving average price of $144.62 and a 200-day moving average price of $156.46. Intercontinental Exchange Inc. has a 1-year low of $121.79 and a 1-year 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 0.63. The firm has a market cap of $74.97 billion, a PE ratio of 19.30, a price-to-earnings-growth ratio of 1.24 and a beta of 0.94.
Analyst Upgrades and Downgrades
ICE has been the topic of several recent research reports. Barclays reaffirmed an “overweight” rating and set a $201.00 target price (up from $198.00) on shares of Intercontinental Exchange in a report on Friday, May 1st. The Goldman Sachs Group lowered their price objective on Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating for the company in a research report on Tuesday. 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. 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, Piper Sandler reissued 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, nine have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Intercontinental Exchange currently has a consensus rating of “Moderate Buy” and a consensus target price of $188.58.
Get Our Latest Stock Analysis on ICE
Insider Transactions at Intercontinental Exchange
In other news, Director Sharon Bowen sold 667 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $151.28, for a total transaction of $100,903.76. Following the completion of the sale, the director owned 15,077 shares of the company’s stock, valued at $2,280,848.56. This trade represents a 4.24% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel Andrew J. Surdykowski sold 4,573 shares of Intercontinental Exchange 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 completion of 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. In the last 90 days, insiders sold 13,425 shares of company stock valued at $2,046,324. 0.84% of the stock is owned by insiders.
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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