First Trust Advisors LP Has $59.62 Million Stake in Intercontinental Exchange Inc. $ICE

Key Points

• First Trust Advisors LP increased its stake in Intercontinental Exchange by 10.6% in the first quarter, bringing its holdings to 379,035 shares valued at about $59.6 million.
• Analyst sentiment remains largely positive, with ICE holding an average rating of “Moderate Buy” and an average price target of $181.58, though several firms recently lowered their targets.
• Intercontinental Exchange reported strong quarterly results, beating EPS and revenue estimates; the company posted $2.35 EPS and $3.67 billion in revenue, with revenue up 20.4% year over year.

First Trust Advisors LP boosted its stake in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 10.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 379,035 shares of the financial services provider's stock after acquiring an additional 36,279 shares during the quarter. First Trust Advisors LP owned 0.07% of Intercontinental Exchange worth $59,615,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Brighton Jones LLC boosted its position in shares of Intercontinental Exchange by 51.3% during the fourth quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider's stock worth $514,000 after buying an additional 1,169 shares during the period. Empowered Funds LLC raised its position in Intercontinental Exchange by 9.0% in the 1st quarter. Empowered Funds LLC now owns 14,396 shares of the financial services provider's stock valued at $2,483,000 after buying an additional 1,189 shares during the last quarter. Sivia Capital Partners LLC raised its position in Intercontinental Exchange by 16.2% in the 2nd quarter. Sivia Capital Partners LLC now owns 2,078 shares of the financial services provider's stock valued at $381,000 after buying an additional 289 shares during the last quarter. NewEdge Advisors LLC lifted its stake in Intercontinental Exchange by 27.9% in the 2nd quarter. NewEdge Advisors LLC now owns 21,213 shares of the financial services provider's stock valued at $3,892,000 after acquiring an additional 4,628 shares in the last quarter. Finally, Treasurer of the State of North Carolina lifted its stake in Intercontinental Exchange by 2.4% in the 2nd quarter. Treasurer of the State of North Carolina now owns 266,496 shares of the financial services provider's stock valued at $48,894,000 after acquiring an additional 6,373 shares in the last quarter. 89.30% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ICE has been the subject of a number of recent research reports. Piper Sandler reduced their price target on Intercontinental Exchange from $211.00 to $190.00 and set an "overweight" rating for the company in a research report on Wednesday, July 15th. Weiss Ratings downgraded shares of Intercontinental Exchange from a "hold (c+)" rating to a "hold (c)" rating in a report on Wednesday, June 17th. Keefe, Bruyette & Woods started coverage on shares of Intercontinental Exchange in a research report on Wednesday, April 8th. They issued an "outperform" rating and a $190.00 price objective on the stock. Rothschild & Co Redburn set a $177.00 target price on shares of Intercontinental Exchange in a report on Thursday, June 11th. Finally, TD Cowen decreased their target price on shares of Intercontinental Exchange from $193.00 to $153.00 and set a "buy" rating for the company in a research report on Monday, June 22nd. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $181.58.

Insider Buying and Selling

In related news, CTO Mayur Kapani sold 4,271 shares of the firm's stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $155.42, for a total value of $663,798.82. Following the completion of the transaction, the chief technology officer directly owned 64,869 shares of the company's stock, valued at approximately $10,081,939.98. This trade represents a 6.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 4,573 shares of the firm's stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $151.56, for a total transaction of $693,083.88. Following the completion of the transaction, the general counsel directly owned 45,473 shares of the company's stock, valued at $6,891,887.88. This represents a 9.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 13,425 shares of company stock worth $2,046,324 in the last quarter. 0.84% of the stock is owned by company insiders.

Intercontinental Exchange Stock Performance

Shares of NYSE ICE opened at $145.93 on Friday. The stock has a 50 day moving average price of $139.50 and a 200 day moving average price of $154.08. Intercontinental Exchange Inc. has a 52 week low of $121.79 and a 52 week high of $189.35. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a market capitalization of $82.53 billion, a PE ratio of 21.24, a price-to-earnings-growth ratio of 1.51 and a beta of 0.94.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share for the quarter, beating analysts' consensus estimates of $2.23 by $0.12. The firm had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $2.88 billion. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The business's revenue was up 20.4% compared to the same quarter last year. During the same period last year, the company earned $1.72 earnings per share. Analysts predict that Intercontinental Exchange Inc. will post 8.01 earnings per share for the current fiscal year.

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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