Equitable Holdings Inc. Purchases Shares of 7,665 Intercontinental Exchange Inc. $ICE

Key Points

• Equitable Holdings purchased 7,665 shares of Intercontinental Exchange in the second quarter, valued at approximately $944,000. Institutional investors collectively own 89.30% of ICE’s outstanding stock.
• Analysts maintain a generally positive outlook, with one Strong Buy, nine Buy and two Hold ratings. The consensus rating is Moderate Buy, with an average price target of $183.33.
• ICE exceeded quarterly earnings expectations, reporting $1.90 in adjusted EPS versus the $1.84 consensus, while revenue rose 4.8% year over year to $3.61 billion. However, company insiders sold 23,141 shares worth about $3.55 million over the past 90 days.

Equitable Holdings Inc. purchased a new stake in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 7,665 shares of the financial services provider's stock, valued at approximately $944,000.

Several other large investors also recently made changes to their positions in the stock. Brooklands Fund Management Ltd bought a new position in Intercontinental Exchange during the 4th quarter worth about $28,000. Swiss RE Ltd. bought a new stake in shares of Intercontinental Exchange in the fourth quarter valued at about $28,000. Lloyd Advisory Services LLC. bought a new stake in shares of Intercontinental Exchange in the fourth quarter valued at about $30,000. Rakuten Securities Inc. acquired a new position in shares of Intercontinental Exchange during the second quarter worth about $26,000. Finally, Kemnay Advisory Services Inc. acquired a new position in shares of Intercontinental Exchange during the fourth quarter worth about $37,000. Institutional investors own 89.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on ICE shares. TD Cowen restated a "buy" rating and issued a $177.00 target price (up from $159.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. Rothschild & Co Redburn set a $177.00 price target on shares of Intercontinental Exchange in a research note on Thursday, June 11th. Raymond James Financial set a $208.00 price target on shares of Intercontinental Exchange in a research note on Monday, July 6th. Morgan Stanley lowered their target price on Intercontinental Exchange from $187.00 to $163.00 and set an "equal weight" rating on the stock in a research report on Friday, July 10th. Finally, Wall Street Zen raised Intercontinental Exchange from a "sell" rating to a "hold" rating in a research report on Saturday, August 22nd. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $183.33.

Intercontinental Exchange Trading Up 0.8%

Shares of Intercontinental Exchange stock opened at $162.46 on Friday. The company has a market capitalization of $91.20 billion, a price-to-earnings ratio of 22.95, a P/E/G ratio of 1.58 and a beta of 0.92. The business has a fifty day simple moving average of $144.90 and a two-hundred day simple moving average of $151.50. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01. Intercontinental Exchange Inc. has a 1 year low of $121.79 and a 1 year high of $177.76.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last released its earnings results on Thursday, July 30th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.06. Intercontinental Exchange had a return on equity of 14.95% and a net margin of 30.08%.The company had revenue of $3.61 billion for the quarter, compared to analyst estimates of $2.63 billion. During the same period in the prior year, the firm posted $1.81 EPS. Intercontinental Exchange's quarterly revenue was up 4.8% on a year-over-year basis. Research analysts forecast that Intercontinental Exchange Inc. will post 8.1 EPS for the current year.

Insider Activity at Intercontinental Exchange

In related news, CFO Warren Gardiner sold 2,491 shares of the company's stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $156.30, for a total transaction of $389,343.30. Following the completion of the transaction, the chief financial officer directly owned 22,698 shares in the company, valued at $3,547,697.40. This represents a 9.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 4,574 shares of the company's stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $161.77, for a total transaction of $739,935.98. Following the transaction, the general counsel owned 43,065 shares of the company's stock, valued at $6,966,625.05. This trade represents a 9.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 23,141 shares of company stock worth $3,554,192 in the last ninety days. Insiders own 0.84% of the company's stock.

Intercontinental Exchange 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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