B. Metzler seel. Sohn & Co. AG Invests $6.76 Million in Intercontinental Exchange Inc. $ICE

Key Points

• B. Metzler seel. Sohn & Co. AG purchased 54,897 shares of Intercontinental Exchange in the second quarter, worth approximately $6.76 million. Institutional investors collectively own 89.3% of ICE’s outstanding stock.
• Analysts maintain a generally positive outlook, with one Strong Buy, nine Buy and two Hold ratings. The stock has a “Moderate Buy” consensus rating and an average price target of $183.33.
• Intercontinental Exchange exceeded quarterly expectations, reporting $1.90 in EPS versus the $1.84 consensus and $3.61 billion in revenue. Revenue rose 4.8% year over year, while insiders sold 20,200 shares worth about $3.04 million over the past 90 days.

B. Metzler seel. Sohn & Co. AG purchased a new position in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 54,897 shares of the financial services provider's stock, valued at approximately $6,758,000.

A number of other institutional investors have also modified their holdings of ICE. Silvant Capital Management LLC acquired a new position in Intercontinental Exchange during the 2nd quarter worth approximately $50,000. LaSalle St. Investment Advisors LLC purchased a new stake in shares of Intercontinental Exchange during the 2nd quarter worth $326,000. Mystic Asset Management Inc. purchased a new stake in shares of Intercontinental Exchange during the 2nd quarter worth $1,316,000. Advisors Preferred LLC acquired a new position in shares of Intercontinental Exchange during the second quarter worth $1,509,000. Finally, Oxford Financial Group LTD. LLC purchased a new position in Intercontinental Exchange in the second quarter valued at $543,000. 89.30% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on ICE shares. The Goldman Sachs Group cut 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. UBS Group reiterated a "buy" rating and issued a $195.00 price target (up from $190.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $178.00 price objective on shares of Intercontinental Exchange in a report on Friday, July 31st. Barclays restated an "overweight" rating and issued a $182.00 target price (up from $180.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. Finally, Piper Sandler cut their price target on shares of Intercontinental Exchange from $211.00 to $190.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $183.33.

Insider Buying and Selling at Intercontinental Exchange

In related news, General Counsel Andrew J. Surdykowski sold 4,573 shares of the business's stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $151.56, for a total transaction of $693,083.88. Following the completion of the sale, the general counsel owned 45,473 shares of the company's stock, valued at $6,891,887.88. This represents a 9.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William Jefferson Hague sold 1,333 shares of Intercontinental Exchange stock in a transaction dated Friday, June 12th. The shares were 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 approximately $2,807,608.72. This represents a 6.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 20,200 shares of company stock valued at $3,035,385. Corporate insiders own 0.84% of the company's stock.

Intercontinental Exchange Stock Up 1.7%

Shares of NYSE ICE opened at $161.29 on Friday. Intercontinental Exchange Inc. has a 1 year low of $121.79 and a 1 year high of $181.65. The firm's 50 day moving average price is $142.34 and its 200 day moving average price is $151.69. The firm has a market cap of $90.55 billion, a P/E ratio of 22.78, a price-to-earnings-growth ratio of 1.56 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 (NYSE:ICE - Get Free Report) last released its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $2.63 billion. Intercontinental Exchange had a return on equity of 14.95% and a net margin of 30.08%.The company's quarterly revenue was up 4.8% compared to the same quarter last year. During the same period last year, the business posted $1.81 EPS. As a group, sell-side analysts anticipate that Intercontinental Exchange Inc. will post 8.11 earnings per share for the current year.

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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