Intercontinental Exchange Inc. $ICE Stock Holdings Increased by Acadian Asset Management LLC

Key Points

• Acadian Asset Management LLC increased its stake in Intercontinental Exchange Inc. by 9.7%, owning 510,004 shares valued at approximately $87.96 million after acquiring an additional 44,924 shares.
• Several institutional investors, including Vanguard Group and Price T Rowe Associates, have significantly boosted their holdings in Intercontinental Exchange during the first quarter, indicating strong institutional interest in the company.
• Intercontinental Exchange reported earnings per share of $1.81 for the last quarter, surpassing analysts' estimates of $1.77, and had a year-over-year revenue increase of 9.8%, reaching $3.26 billion.

Acadian Asset Management LLC increased its holdings in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 9.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 510,004 shares of the financial services provider's stock after buying an additional 44,924 shares during the period. Acadian Asset Management LLC owned about 0.09% of Intercontinental Exchange worth $87,961,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of ICE. Brighton Jones LLC boosted its holdings 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 valued at $514,000 after buying an additional 1,169 shares during the period. Jefferies Financial Group Inc. boosted its holdings in shares of Intercontinental Exchange by 5.5% in the 4th quarter. Jefferies Financial Group Inc. now owns 2,459 shares of the financial services provider's stock valued at $366,000 after buying an additional 128 shares during the period. Lighthouse Investment Partners LLC boosted its holdings in shares of Intercontinental Exchange by 1,711.9% in the 4th quarter. Lighthouse Investment Partners LLC now owns 38,213 shares of the financial services provider's stock valued at $5,694,000 after buying an additional 36,104 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Intercontinental Exchange by 27.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 90,008 shares of the financial services provider's stock valued at $13,412,000 after buying an additional 19,410 shares during the period. Finally, Morse Asset Management Inc boosted its holdings in shares of Intercontinental Exchange by 4.8% in the 4th quarter. Morse Asset Management Inc now owns 27,604 shares of the financial services provider's stock valued at $4,113,000 after buying an additional 1,255 shares during the period. 89.30% of the stock is owned by institutional investors and hedge funds.

Intercontinental Exchange Price Performance

Shares of NYSE:ICE traded down $2.16 during trading on Friday, reaching $174.02. The company had a trading volume of 2,300,528 shares, compared to its average volume of 2,489,475. The firm's fifty day moving average is $180.62 and its 200 day moving average is $174.97. The firm has a market capitalization of $99.61 billion, a PE ratio of 33.40, a price-to-earnings-growth ratio of 2.10 and a beta of 1.10. Intercontinental Exchange Inc. has a twelve month low of $142.29 and a twelve month high of $189.35. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.01.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The financial services provider reported $1.81 earnings per share for the quarter, topping analysts' consensus estimates of $1.77 by $0.04. The company had revenue of $3.26 billion during the quarter, compared to analyst estimates of $2.50 billion. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The business's revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.52 EPS. On average, equities analysts forecast that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Insider Buying and Selling

In related news, General Counsel Andrew J. Surdykowski sold 3,850 shares of the business's stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $178.33, for a total value of $686,570.50. Following the sale, the general counsel directly owned 46,293 shares in the company, valued at $8,255,430.69. The trade was a 7.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Duriya M. Farooqui sold 2,036 shares of the business's stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $178.34, for a total transaction of $363,100.24. Following the completion of the sale, the director owned 14,299 shares in the company, valued at $2,550,083.66. The trade was a 12.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 230,730 shares of company stock worth $42,171,892. Company insiders own 1.00% of the company's stock.

Analysts Set New Price Targets

ICE has been the subject of a number of analyst reports. UBS Group boosted their target price on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Piper Sandler increased their price objective on Intercontinental Exchange from $180.00 to $202.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. Finally, Barclays raised their target price on Intercontinental Exchange from $206.00 to $212.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Ten investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $194.92.

Intercontinental Exchange Profile

Intercontinental Exchange, Inc, together with its subsidiaries, engages in the provision of market infrastructure, data services, and technology solutions for financial institutions, corporations, and government entities in the United States, the United Kingdom, the European Union, Singapore, India, Abu Dhabi, Israel, and Canada.