38,200 Shares in Intercontinental Exchange Inc. $ICE Bought by WINTON GROUP Ltd

Key Points

• WINTON GROUP Ltd acquired 38,200 shares of Intercontinental Exchange, valued at approximately $4.7 million. Institutional investors collectively own 89.3% of ICE’s outstanding stock.
• ICE exceeded quarterly earnings expectations, reporting $1.90 in EPS versus the $1.84 consensus estimate and revenue of $3.61 billion. Revenue increased 4.8% year over year, with a 30.08% net margin.
• Analysts maintain a generally positive outlook, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $184.17, compared with a recent price of $155.73.

WINTON GROUP Ltd acquired a new stake in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 38,200 shares of the financial services provider's stock, valued at approximately $4,703,000.

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

Intercontinental Exchange Price Performance

NYSE ICE opened at $155.73 on Friday. The company has a market cap of $87.43 billion, a price-to-earnings ratio of 22.00, a PEG ratio of 1.52 and a beta of 0.93. 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 stock's fifty day moving average price is $150.64 and its 200 day moving average price is $151.71. Intercontinental Exchange Inc. has a 1 year low of $121.79 and a 1 year high of $176.59.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.90 EPS for the quarter, topping analysts' consensus estimates of $1.84 by $0.06. The company had revenue of $3.61 billion during the quarter, compared to analysts' expectations of $2.63 billion. Intercontinental Exchange had a return on equity of 14.95% and a net margin of 30.08%.The firm's revenue was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.81 EPS. As a group, equities research analysts forecast that Intercontinental Exchange Inc. will post 8.1 earnings per share for the current year.

Insider Activity

In other Intercontinental Exchange news, insider Christopher Edmonds sold 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $160.59, for a total transaction of $802,950.00. Following the completion of the transaction, the insider directly owned 14,367 shares of the company's stock, valued at approximately $2,307,196.53. This trade represents a 25.82% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel Andrew J. Surdykowski sold 4,574 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $161.77, for a total transaction of $739,935.98. Following the sale, the general counsel owned 43,065 shares of the company's stock, valued at approximately $6,966,625.05. The trade was a 9.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 39,579 shares of company stock valued at $6,217,715. 0.84% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Barclays reiterated an "overweight" rating and set a $182.00 price objective (up from $180.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. The Goldman Sachs Group reduced their target price on Intercontinental Exchange from $208.00 to $180.00 and set a "buy" rating on the stock in a research report on Tuesday, June 30th. Piper Sandler decreased their price target on Intercontinental Exchange from $211.00 to $190.00 and set an "overweight" rating for the company in a research note on Wednesday, July 15th. Morgan Stanley lowered their price target on Intercontinental Exchange from $187.00 to $163.00 and set an "equal weight" rating for the company in a report on Friday, July 10th. Finally, Raymond James Financial restated a "strong-buy" rating and set a $218.00 price objective on shares of Intercontinental Exchange in a report on Tuesday, September 1st. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $184.17.

Intercontinental Exchange Company Profile

Intercontinental Exchange, Inc NYSE: ICE operates global exchanges, clearinghouses, data services and technology platforms. The company provides marketplaces for trading and clearing a range of financial and commodity products, including energy, agricultural commodities, interest rates, credit and equities.

ICE owns and operates the New York Stock Exchange and related equity markets, as well as futures and options exchanges in North America and Europe. Its businesses also include ICE Data Services, which provides market data, analytics, connectivity and other information services to financial institutions and corporations.

Through ICE Mortgage Technology, the company offers software and digital platforms designed to support residential mortgage origination, processing, servicing and related workflows.

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