First Manhattan CO. LLC. Buys 7,147 Shares of Intercontinental Exchange Inc. $ICE

Key Points

• First Manhattan CO. LLC. increased its stake in Intercontinental Exchange Inc. by 0.6%, owning a total of 1,151,974 shares valued at approximately $198.7 million.
• Several hedge funds raised their holdings in Intercontinental Exchange, with Brighton Jones LLC increasing its stake by 51.3% in the fourth quarter.
• Analysts have generally given the stock a rating of "Moderate Buy", with ten saying "Buy" and two indicating "Hold", and an average target price of $194.92.

First Manhattan CO. LLC. boosted its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 0.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,151,974 shares of the financial services provider's stock after buying an additional 7,147 shares during the period. First Manhattan CO. LLC. owned approximately 0.20% of Intercontinental Exchange worth $198,716,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Tsfg LLC boosted its stake in Intercontinental Exchange by 187.3% during the first quarter. Tsfg LLC now owns 158 shares of the financial services provider's stock valued at $27,000 after buying an additional 103 shares during the period. Activest Wealth Management boosted its stake in Intercontinental Exchange by 4,050.0% during the first quarter. Activest Wealth Management now owns 166 shares of the financial services provider's stock valued at $29,000 after buying an additional 162 shares during the period. Rakuten Securities Inc. boosted its stake in Intercontinental Exchange by 595.8% during the first quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider's stock valued at $29,000 after buying an additional 143 shares during the period. REAP Financial Group LLC boosted its stake in Intercontinental Exchange by 116.7% during the fourth quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider's stock valued at $25,000 after buying an additional 91 shares during the period. Finally, McClarren Financial Advisors Inc. bought a new stake in Intercontinental Exchange during the first quarter valued at $30,000. Institutional investors own 89.30% of the company's stock.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, Director Martha A. Tirinnanzi sold 610 shares of the company's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $179.76, for a total transaction of $109,653.60. Following the transaction, the director owned 3,519 shares in the company, valued at approximately $632,575.44. This represents a 14.77% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Warren Gardiner sold 1,570 shares of the company's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $178.45, for a total value of $280,166.50. Following the transaction, the chief financial officer owned 22,106 shares in the company, valued at $3,944,815.70. This trade represents a 6.63% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 227,830 shares of company stock worth $41,668,789. 1.00% of the stock is owned by corporate insiders.

Intercontinental Exchange Trading Down 0.2%

ICE traded down $0.26 during midday trading on Friday, reaching $174.26. 3,104,192 shares of the company's stock traded hands, compared to its average volume of 2,714,532. The firm has a fifty day moving average of $181.49 and a two-hundred day moving average of $174.77. The stock has a market capitalization of $99.75 billion, a price-to-earnings ratio of 33.45, a P/E/G ratio of 2.08 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. Intercontinental Exchange Inc. has a 52 week low of $142.29 and a 52 week high of $189.35.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last released its quarterly 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 return on equity of 13.66% and a net margin of 23.92%.The business had revenue of $3.26 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same quarter in the prior year, the company posted $1.52 EPS. Intercontinental Exchange's quarterly revenue was up 9.8% compared to the same quarter last year. On average, equities analysts anticipate that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Analyst Ratings Changes

ICE has been the subject of several research analyst reports. Piper Sandler lifted their price target on Intercontinental Exchange from $180.00 to $202.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 15th. Barclays upped their price objective on 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 upped their price objective on 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 issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $194.92.

Intercontinental Exchange Company Profile

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.