Corient Private Wealth LLC Has $99.46 Million Stake in Intercontinental Exchange Inc. $ICE

Key Points

• Corient Private Wealth LLC increased its stake in Intercontinental Exchange by 2.7% in the fourth quarter, ending with 613,491 shares valued at about $99.46 million.
• Institutional ownership remains very high, with hedge funds and other institutions holding 89.30% of ICE shares, while several other firms also added new positions during the quarter.
• Analysts remain constructive on ICE overall, with an average rating of “Moderate Buy” and an average price target of $193, even as the stock traded near $133.76 and below its 50-day and 200-day moving averages.

Corient Private Wealth LLC lifted its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 2.7% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 613,491 shares of the financial services provider's stock after purchasing an additional 16,211 shares during the period. Corient Private Wealth LLC owned 0.11% of Intercontinental Exchange worth $99,463,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Ares Financial Consulting LLC acquired a new position in shares of Intercontinental Exchange during the 4th quarter worth about $25,000. Holos Integrated Wealth LLC acquired a new position in shares of Intercontinental Exchange in the fourth quarter valued at approximately $28,000. Steph & Co. raised its stake in shares of Intercontinental Exchange by 104.7% in the 4th quarter. Steph & Co. now owns 174 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 89 shares during the period. Brooklands Fund Management Ltd acquired a new stake in Intercontinental Exchange in the 4th quarter valued at approximately $28,000. Finally, Swiss RE Ltd. acquired a new position in Intercontinental Exchange during the 4th quarter worth approximately $28,000. Institutional investors and hedge funds own 89.30% of the company's stock.

Analyst Upgrades and Downgrades

ICE has been the topic of several recent research reports. Barclays reiterated an "overweight" rating and issued a $201.00 price target (up from $198.00) on shares of Intercontinental Exchange in a research note on Friday, May 1st. Piper Sandler restated an "overweight" rating and issued a $211.00 price target (up from $195.00) on shares of Intercontinental Exchange in a research note on Wednesday, April 15th. Rothschild & Co Redburn set a $177.00 target price on shares of Intercontinental Exchange in a research report on Thursday, June 11th. Morgan Stanley lifted their price target on shares of Intercontinental Exchange from $183.00 to $187.00 and gave the company an "equal weight" rating in a research report on Friday, April 10th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Intercontinental Exchange from a "hold" rating to a "buy" rating and set a $188.00 price objective on the stock in a research note on Friday, March 6th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $193.00.

Intercontinental Exchange Stock Down 0.1%

Intercontinental Exchange stock opened at $133.76 on Friday. The firm's fifty day moving average is $151.34 and its 200 day moving average is $158.60. Intercontinental Exchange Inc. has a 12-month low of $132.84 and a 12-month high of $189.35. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $75.64 billion, a PE ratio of 19.47, a PEG ratio of 1.28 and a beta of 0.92.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The financial services provider reported $2.35 earnings per share for the quarter, topping the consensus estimate of $2.23 by $0.12. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The firm had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $2.88 billion. During the same quarter in the prior year, the company posted $1.72 earnings per share. The business's revenue was up 20.4% on a year-over-year basis. As a group, sell-side analysts predict that Intercontinental Exchange Inc. will post 8.16 EPS for the current fiscal year.

Insider Transactions at Intercontinental Exchange

In other news, CTO Mayur Kapani sold 4,271 shares of the stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $155.42, for a total transaction of $663,798.82. Following the completion of the transaction, the chief technology officer owned 64,869 shares in the company, valued at approximately $10,081,939.98. This represents a 6.18% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Sharon Bowen sold 667 shares of the firm's stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $151.28, for a total transaction of $100,903.76. Following the completion of the transaction, the director directly owned 15,077 shares of the company's stock, valued at approximately $2,280,848.56. The trade was a 4.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 13,425 shares of company stock valued at $2,046,324. Corporate insiders own 0.84% of the company's stock.

Intercontinental Exchange Company Profile

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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