Ballentine Partners LLC Buys 1,802 Shares of Intercontinental Exchange Inc. $ICE

Key Points

• Ballentine Partners LLC increased its stake in Intercontinental Exchange Inc. by 30.4% during the second quarter, acquiring an additional 1,802 shares which brought their total holdings to 7,737 shares valued at approximately $1.42 million.
• Wall Street analysts remain optimistic about ICE with multiple firms boosting their price targets; JPMorgan Chase raised its target from $195 to $203, while Barclays increased its target from $206 to $212.
• Intercontinental Exchange reported earnings per share of $1.81 for the last quarter, surpassing the consensus estimate of $1.77, and achieved a revenue of $3.26 billion, significantly above the expected $2.50 billion.

Ballentine Partners LLC increased its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 30.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,737 shares of the financial services provider's stock after acquiring an additional 1,802 shares during the quarter. Ballentine Partners LLC's holdings in Intercontinental Exchange were worth $1,420,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of ICE. Norden Group LLC bought a new position in shares of Intercontinental Exchange in the second quarter worth approximately $243,000. Fortitude Family Office LLC boosted its position in Intercontinental Exchange by 40.8% during the 2nd quarter. Fortitude Family Office LLC now owns 435 shares of the financial services provider's stock valued at $80,000 after buying an additional 126 shares during the period. IronOak Wealth LLC. purchased a new position in shares of Intercontinental Exchange in the second quarter valued at about $964,000. GAMMA Investing LLC raised its stake in shares of Intercontinental Exchange by 21.3% during the second quarter. GAMMA Investing LLC now owns 15,928 shares of the financial services provider's stock valued at $2,922,000 after acquiring an additional 2,799 shares during the last quarter. Finally, Clear Harbor Asset Management LLC raised its stake in shares of Intercontinental Exchange by 11.0% during the second quarter. Clear Harbor Asset Management LLC now owns 2,206 shares of the financial services provider's stock valued at $405,000 after acquiring an additional 219 shares during the last quarter. 89.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ICE. JPMorgan Chase & Co. boosted their price target on Intercontinental Exchange from $195.00 to $203.00 and gave the company an "overweight" rating in a report on Thursday. Barclays lifted their price objective on Intercontinental Exchange from $206.00 to $212.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Piper Sandler upped their target price on Intercontinental Exchange from $180.00 to $202.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. Finally, UBS Group lifted their price target on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Nine equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $197.36.

Intercontinental Exchange Stock Down 0.5%

NYSE:ICE opened at $167.20 on Friday. Intercontinental Exchange Inc. has a 1-year low of $142.29 and a 1-year high of $189.35. The company has a market capitalization of $95.71 billion, a PE ratio of 32.09, a P/E/G ratio of 2.00 and a beta of 1.10. The firm's 50-day moving average price is $178.56 and its 200-day moving average price is $174.90. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01.

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

Insider Buying and Selling at Intercontinental Exchange

In related news, Director Judith A. Sprieser sold 2,900 shares of the stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $174.51, for a total transaction of $506,079.00. Following the sale, the director directly owned 18,169 shares of the company's stock, valued at approximately $3,170,672.19. This represents a 13.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Duriya M. Farooqui sold 2,036 shares of Intercontinental Exchange stock in a transaction dated 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 transaction, the director directly owned 14,299 shares of the company's stock, valued at $2,550,083.66. This trade represents a 12.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 231,669 shares of company stock valued at $42,333,438 in the last ninety days. Corporate insiders own 1.00% of the company's stock.

About Intercontinental Exchange

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.

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