Harbour Capital Advisors LLC Grows Stock Position in Intercontinental Exchange Inc. $ICE

Key Points

• Harbour Capital Advisors LLC increased its stake in Intercontinental Exchange Inc. by 8.7%, owning 29,605 shares valued at approximately $5.38 million as of the latest SEC filing.
• Intercontinental Exchange reported a quarterly earnings per share (EPS) of $1.81, exceeding estimates, and its revenue reached $3.26 billion, marking a year-over-year increase of 9.8%.
• Insider transactions included CEO Jeffrey Sprecher selling 150,000 shares valued at over $27 million, indicating a 7.14% decrease in his ownership percentage.

Harbour Capital Advisors LLC grew its position in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 8.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 29,605 shares of the financial services provider's stock after acquiring an additional 2,378 shares during the quarter. Intercontinental Exchange comprises 1.1% of Harbour Capital Advisors LLC's holdings, making the stock its 20th largest position. Harbour Capital Advisors LLC's holdings in Intercontinental Exchange were worth $5,380,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Tsfg LLC lifted its position in shares of Intercontinental Exchange by 187.3% in the first quarter. Tsfg LLC now owns 158 shares of the financial services provider's stock valued at $27,000 after acquiring an additional 103 shares in the last quarter. Activest Wealth Management increased its holdings in shares of Intercontinental Exchange by 4,050.0% in the first quarter. Activest Wealth Management now owns 166 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 162 shares during the last quarter. Rakuten Securities Inc. increased its holdings in shares of Intercontinental Exchange by 595.8% in the first quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 143 shares during the last quarter. REAP Financial Group LLC increased its holdings in shares of Intercontinental Exchange by 116.7% in the fourth quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 91 shares during the last quarter. Finally, McClarren Financial Advisors Inc. acquired a new stake in shares of Intercontinental Exchange in the first quarter valued at approximately $30,000. Hedge funds and other institutional investors own 89.30% of the company's stock.

Intercontinental Exchange Stock Down 0.9%

Intercontinental Exchange stock opened at $169.65 on Friday. The company has a market capitalization of $97.11 billion, a P/E ratio of 32.56, a PEG ratio of 2.04 and a beta of 1.10. Intercontinental Exchange Inc. has a fifty-two week low of $142.29 and a fifty-two week high of $189.35. The stock has a 50-day simple moving average of $179.58 and a 200-day simple moving average of $174.95. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.01.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The financial services provider reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.77 by $0.04. The firm had revenue of $3.26 billion for the quarter, compared to analysts' expectations of $2.50 billion. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.The firm's revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.52 EPS. Equities research analysts expect that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Insider Transactions at Intercontinental Exchange

In related news, Director Duriya M. Farooqui sold 2,036 shares of the business's stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $178.34, for a total value of $363,100.24. Following the transaction, the director owned 14,299 shares in the company, valued at $2,550,083.66. The trade was a 12.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the business's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $183.09, for a total value of $27,463,500.00. Following the completion of the transaction, the chief executive officer owned 1,951,705 shares in the company, valued at $357,337,668.45. This trade represents a 7.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 231,669 shares of company stock worth $42,333,438 over the last three months. 1.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on ICE. Piper Sandler increased their price target on 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 target price on Intercontinental Exchange from $206.00 to $212.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Finally, UBS Group lifted their price objective on Intercontinental Exchange from $195.00 to $210.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Ten research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $194.92.

Intercontinental Exchange 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.

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