NewEdge Wealth LLC acquired a new stake in shares of Intercontinental Exchange Inc. (NYSE:ICE – Free Report) in the second quarter, HoldingsChannel reports. The fund acquired 17,597 shares of the financial services provider’s stock, valued at approximately $2,166,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Intercontinental Exchange by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 54,153,170 shares of the financial services provider’s stock valued at $8,770,647,000 after acquiring an additional 413,639 shares in the last quarter. J. Stern & Co. LLP grew its stake in Intercontinental Exchange by 17,398.1% in the fourth quarter. J. Stern & Co. LLP now owns 54,107,273 shares of the financial services provider’s stock worth $8,763,214,000 after purchasing an additional 53,798,055 shares in the last quarter. BlackRock Inc. bought a new stake in Intercontinental Exchange in the second quarter valued at about $6,245,085,000. State Street Corp increased its holdings in Intercontinental Exchange by 3.4% in the fourth quarter. State Street Corp now owns 25,653,952 shares of the financial services provider’s stock valued at $4,154,914,000 after buying an additional 837,208 shares during the last quarter. Finally, Morgan Stanley raised its stake in Intercontinental Exchange by 1.0% during the fourth quarter. Morgan Stanley now owns 15,875,593 shares of the financial services provider’s stock valued at $2,571,212,000 after buying an additional 158,450 shares in the last quarter. 89.30% of the stock is currently owned by hedge funds and other institutional investors.
Intercontinental Exchange Trading Up 0.9%
NYSE:ICE opened at $158.68 on Friday. The stock has a market cap of $89.08 billion, a price-to-earnings ratio of 22.41, a PEG ratio of 1.55 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. Intercontinental Exchange Inc. has a 1 year low of $121.79 and a 1 year high of $181.65. The business has a fifty day moving average of $141.92 and a 200-day moving average of $151.63.
Insider Transactions at Intercontinental Exchange
In related news, SVP Douglas Foley sold 7,300 shares of Intercontinental Exchange stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $148.88, for a total transaction of $1,086,824.00. Following the transaction, the senior vice president directly owned 19,063 shares of the company’s stock, valued at $2,838,099.44. The trade was a 27.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William Jefferson Hague sold 1,333 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $139.46, for a total transaction of $185,900.18. Following the completion of the sale, the director owned 20,132 shares in the company, valued at $2,807,608.72. The trade was a 6.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 17,709 shares of company stock valued at $2,646,042 in the last quarter. Company insiders own 0.84% of the company’s stock.
Analysts Set New Price Targets
Several equities analysts recently issued reports on the company. Rothschild & Co Redburn set a $177.00 price objective on Intercontinental Exchange in a research note on Thursday, June 11th. TD Cowen reiterated a “buy” rating and set a $177.00 target price (up from $159.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. The Goldman Sachs Group dropped their target price on shares of Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $178.00 price target on shares of Intercontinental Exchange in a research report on Friday, July 31st. Finally, Wall Street Zen lowered shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $183.33.
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.
Featured Articles
- Five stocks we like better than Intercontinental Exchange
- 3 Energy Stocks Raising Dividends as the Sector Surges
- 5 Reasons the S&P 500 Could Keep Rallying Through Year-End
- Walmart’s Post-Earnings Drop Could Be a Buying Opportunity
- The Trade Desk’s Earnings Miss Raises a Bigger Question About Its AI Future
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.
