Diversified Trust Co Raises Position in Intercontinental Exchange Inc. $ICE

Key Points

• Diversified Trust Co increased its stake in Intercontinental Exchange Inc. by 67.7% in Q2, owning 16,878 shares valued at $3.1 million after acquiring an additional 6,814 shares.
• Insider selling activity included General Counsel Andrew J. Surdykowski selling 3,850 shares at an average price of $178.33, and Director Judith A. Sprieser selling 2,900 shares at an average price of $174.51, together reducing their holdings by significant percentages.
• Intercontinental Exchange's stock opened at $169.65, with analysts setting new price targets; Piper Sandler raised theirs to $202.00, while UBS Group set theirs at $210.00, reflecting a “Moderate Buy” consensus among analysts.

Diversified Trust Co boosted its stake in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 67.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,878 shares of the financial services provider's stock after buying an additional 6,814 shares during the quarter. Diversified Trust Co's holdings in Intercontinental Exchange were worth $3,097,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. RB Capital Management LLC lifted its stake in Intercontinental Exchange by 1.3% in the 2nd quarter. RB Capital Management LLC now owns 4,584 shares of the financial services provider's stock valued at $841,000 after buying an additional 59 shares in the last quarter. Chemistry Wealth Management LLC raised its holdings in Intercontinental Exchange by 0.8% in the 2nd quarter. Chemistry Wealth Management LLC now owns 7,847 shares of the financial services provider's stock valued at $1,440,000 after acquiring an additional 60 shares during the last quarter. Fielder Capital Group LLC raised its holdings in Intercontinental Exchange by 2.2% in the 1st quarter. Fielder Capital Group LLC now owns 2,808 shares of the financial services provider's stock valued at $484,000 after acquiring an additional 61 shares during the last quarter. E Fund Management Co. Ltd. raised its holdings in Intercontinental Exchange by 4.2% in the 1st quarter. E Fund Management Co. Ltd. now owns 1,500 shares of the financial services provider's stock valued at $259,000 after acquiring an additional 61 shares during the last quarter. Finally, Berkeley Capital Partners LLC raised its holdings in Intercontinental Exchange by 1.1% in the 1st quarter. Berkeley Capital Partners LLC now owns 5,639 shares of the financial services provider's stock valued at $973,000 after acquiring an additional 62 shares during the last quarter. 89.30% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, General Counsel Andrew J. Surdykowski sold 3,850 shares of the business's stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $178.33, for a total transaction of $686,570.50. Following the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Judith A. Sprieser sold 2,900 shares of the business's stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $174.51, for a total transaction of $506,079.00. Following the transaction, the director owned 18,169 shares in the company, valued at approximately $3,170,672.19. This trade represents a 13.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 231,669 shares of company stock valued at $42,333,438. 1.00% of the stock is owned by insiders.

Intercontinental Exchange Price Performance

Shares of ICE opened at $169.65 on Friday. Intercontinental Exchange Inc. has a 1-year low of $142.29 and a 1-year high of $189.35. The stock has a market cap of $97.11 billion, a PE ratio of 32.56, a price-to-earnings-growth ratio of 2.02 and a beta of 1.10. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a fifty day moving average price of $179.58 and a 200 day moving average price of $174.98.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last announced its earnings results on Thursday, July 31st. The financial services provider reported $1.81 EPS 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 analysts' expectations of $2.50 billion. During the same period in the prior year, the company earned $1.52 earnings per share. The business's revenue was up 9.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Analysts Set New Price Targets

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

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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