Corient Private Wealth LP purchased a new stake in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 426,413 shares of the financial services provider's stock, valued at approximately $52,496,000. Corient Private Wealth LP owned 0.08% of Intercontinental Exchange as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also modified their holdings of ICE. Bank of America Corp DE bought a new position in shares of Intercontinental Exchange in the second quarter worth $521,557,000. Port Capital LLC acquired a new position in shares of Intercontinental Exchange in the 2nd quarter worth approximately $44,384,000. Caisse de depot et placement du Quebec bought a new stake in shares of Intercontinental Exchange in the 2nd quarter worth approximately $174,466,000. Odyssean LLC lifted its stake in Intercontinental Exchange by 131.7% during the second quarter. Odyssean LLC now owns 21,154 shares of the financial services provider's stock valued at $2,604,000 after purchasing an additional 12,024 shares during the last quarter. Finally, Man Group plc acquired a new stake in Intercontinental Exchange during the second quarter valued at approximately $49,706,000. Institutional investors and hedge funds own 89.30% of the company's stock.
Intercontinental Exchange Trading Down 0.5%
Shares of NYSE ICE opened at $161.19 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63. Intercontinental Exchange Inc. has a one year low of $121.79 and a one year high of $177.76. The business has a 50-day moving average price of $144.32 and a two-hundred day moving average price of $151.43. The firm has a market capitalization of $90.49 billion, a PE ratio of 22.77, a PEG ratio of 1.57 and a beta of 0.92.
Intercontinental Exchange (NYSE:ICE - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.84 by $0.06. The business had revenue of $3.61 billion during the quarter, compared to analyst estimates of $2.63 billion. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The firm's revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.81 earnings per share. As a group, analysts predict that Intercontinental Exchange Inc. will post 8.1 earnings per share for the current fiscal year.
Analysts Set New Price Targets
A number of brokerages have recently commented on ICE. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $178.00 price objective on shares of Intercontinental Exchange in a research report on Friday, July 31st. Raymond James Financial set a $208.00 target price on Intercontinental Exchange in a report on Monday, July 6th. TD Cowen reaffirmed a "buy" rating and set a $177.00 target price (up from $159.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. Piper Sandler reduced their target price on Intercontinental Exchange from $211.00 to $190.00 and set an "overweight" rating for the company in a report on Wednesday, July 15th. Finally, Weiss Ratings raised Intercontinental Exchange from a "hold (c)" rating to a "hold (c+)" rating in a research note on Tuesday. One 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 company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $183.33.
View Our Latest Stock Report on Intercontinental Exchange
Insider Activity at Intercontinental Exchange
In other Intercontinental Exchange news, Director William Jefferson Hague sold 1,333 shares of the company's stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $139.46, for a total value of $185,900.18. Following the transaction, the director directly owned 20,132 shares of the company's stock, valued at $2,807,608.72. This represents a 6.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Warren Gardiner sold 2,491 shares of Intercontinental Exchange stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $156.30, for a total value of $389,343.30. Following the sale, the chief financial officer owned 22,698 shares of the company's stock, valued at approximately $3,547,697.40. This represents a 9.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 17,227 shares of company stock valued at $2,598,301. Insiders own 0.84% of the company's stock.
Intercontinental Exchange Company Profile
(
Free Report)
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.
Further Reading
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).
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