19,125 Shares in Intercontinental Exchange Inc. $ICE Bought by Lmcg Investments LLC

Key Points

• Lmcg Investments LLC established a new stake of 19,125 shares in Intercontinental Exchange, valued at about $3.10 million, as institutional investors now own roughly 89.30% of the company.
• ICE posted quarterly EPS of $2.35 (beating estimates by $0.12) and revenue of $3.67 billion, up 20.4% year-over-year, indicating strong growth momentum.
• Analysts carry an average Buy rating with a consensus price target of $194.10, versus a current share price near $153.57, while insiders have sold about $53.4 million of stock over the past 90 days.

Lmcg Investments LLC acquired a new stake in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 19,125 shares of the financial services provider's stock, valued at approximately $3,097,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ICE. Brighton Jones LLC increased its holdings in Intercontinental Exchange by 51.3% in the fourth quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider's stock valued at $514,000 after buying an additional 1,169 shares in the last quarter. Empowered Funds LLC increased its holdings in Intercontinental Exchange by 9.0% in the first quarter. Empowered Funds LLC now owns 14,396 shares of the financial services provider's stock valued at $2,483,000 after buying an additional 1,189 shares in the last quarter. Sivia Capital Partners LLC increased its holdings in Intercontinental Exchange by 16.2% in the second quarter. Sivia Capital Partners LLC now owns 2,078 shares of the financial services provider's stock valued at $381,000 after buying an additional 289 shares in the last quarter. NewEdge Advisors LLC increased its holdings in Intercontinental Exchange by 27.9% in the second quarter. NewEdge Advisors LLC now owns 21,213 shares of the financial services provider's stock valued at $3,892,000 after buying an additional 4,628 shares in the last quarter. Finally, Treasurer of the State of North Carolina increased its holdings in Intercontinental Exchange by 2.4% in the second quarter. Treasurer of the State of North Carolina now owns 266,496 shares of the financial services provider's stock valued at $48,894,000 after buying an additional 6,373 shares in the last quarter. Hedge funds and other institutional investors own 89.30% of the company's stock.

Analysts Set New Price Targets

ICE has been the subject of a number of recent analyst reports. Barclays reaffirmed an "overweight" rating and issued a $201.00 price objective (up from $198.00) on shares of Intercontinental Exchange in a report on Friday, May 1st. Keefe, Bruyette & Woods began coverage on shares of Intercontinental Exchange in a research note on Wednesday, April 8th. They set an "outperform" rating and a $190.00 target price for the company. Morgan Stanley boosted their target price on shares of Intercontinental Exchange from $183.00 to $187.00 and gave the stock an "equal weight" rating in a research note on Friday, April 10th. Weiss Ratings cut shares of Intercontinental Exchange from a "buy (b)" rating to a "buy (b-)" rating in a research note on Friday, April 24th. 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 note on Wednesday, April 15th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, Intercontinental Exchange currently has an average rating of "Buy" and a consensus price target of $194.10.

Intercontinental Exchange Stock Performance

NYSE:ICE opened at $153.57 on Thursday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market capitalization of $86.84 billion, a price-to-earnings ratio of 22.35, a PEG ratio of 1.43 and a beta of 0.96. The company's 50-day moving average is $160.23 and its two-hundred day moving average is $159.99. Intercontinental Exchange Inc. has a 1-year low of $143.17 and a 1-year high of $189.35.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The financial services provider reported $2.35 EPS for the quarter, topping the consensus estimate of $2.23 by $0.12. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The firm had revenue of $3.67 billion for the quarter, compared to analyst estimates of $2.88 billion. During the same period in the prior year, the business posted $1.72 EPS. The business's revenue for the quarter was up 20.4% compared to the same quarter last year. Analysts forecast that Intercontinental Exchange Inc. will post 8.16 EPS for the current year.

Insider Activity at Intercontinental Exchange

In related news, General Counsel Andrew J. Surdykowski sold 4,571 shares of the stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $162.00, for a total value of $740,502.00. Following the transaction, the general counsel directly owned 48,181 shares of the company's stock, valued at $7,805,322. This trade represents a 8.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Warren Gardiner sold 2,490 shares of Intercontinental Exchange stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $154.00, for a total transaction of $383,460.00. Following the sale, the chief financial officer owned 27,679 shares in the company, valued at $4,262,566. This represents a 8.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 343,696 shares of company stock worth $53,397,715 over the last 90 days. 0.84% of the stock is currently owned by corporate insiders.

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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