Harel Insurance Investments & Financial Services Ltd. Has $723,000 Stock Position in Intercontinental Exchange Inc. $ICE

Key Points

• Harel Insurance lowered its stake in Intercontinental Exchange by 98.3% in Q4, selling 251,980 shares and now holds 4,463 shares valued at $723,000.
• Intercontinental Exchange reported quarterly EPS of $2.35 (beating estimates) and revenue of $3.67 billion, up 20.4% year‑over‑year.
• Analysts have a consensus rating of Buy with an average target price of $194.10, and several firms recently raised price targets or upgraded their recommendations.

Harel Insurance Investments & Financial Services Ltd. lowered its stake in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 98.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 4,463 shares of the financial services provider's stock after selling 251,980 shares during the period. Harel Insurance Investments & Financial Services Ltd.'s holdings in Intercontinental Exchange were worth $723,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of ICE. Ares Financial Consulting LLC acquired a new position in Intercontinental Exchange in the 4th quarter valued at about $25,000. Holos Integrated Wealth LLC acquired a new position in Intercontinental Exchange in the 4th quarter valued at about $28,000. Steph & Co. grew its stake in Intercontinental Exchange by 104.7% in the 4th quarter. Steph & Co. now owns 174 shares of the financial services provider's stock valued at $28,000 after buying an additional 89 shares during the last quarter. Dorato Capital Management acquired a new position in Intercontinental Exchange in the 4th quarter valued at about $29,000. Finally, Caitlin John LLC bought a new stake in Intercontinental Exchange in the 3rd quarter valued at about $32,000. Institutional investors and hedge funds own 89.30% of the company's stock.

Analyst Ratings Changes

A number of research firms have issued reports on ICE. Keefe, Bruyette & Woods began coverage on shares of Intercontinental Exchange in a report on Wednesday, April 8th. They issued an "outperform" rating and a $190.00 price objective for the company. Barclays reissued an "overweight" rating and issued a $201.00 price objective (up from $198.00) on shares of Intercontinental Exchange in a report on Friday, May 1st. Morgan Stanley boosted their price objective on shares of Intercontinental Exchange from $183.00 to $187.00 and gave the company an "equal weight" rating in a report on Friday, April 10th. Piper Sandler reissued an "overweight" rating and issued a $211.00 price objective (up from $195.00) on shares of Intercontinental Exchange in a report on Wednesday, April 15th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Intercontinental Exchange from a "hold" rating to a "buy" rating and set a $188.00 price objective for the company in a report on Friday, March 6th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Intercontinental Exchange presently has a consensus rating of "Buy" and an average target price of $194.10.

Insider Buying and Selling at Intercontinental Exchange

In related news, President Benjamin Jackson sold 12,861 shares of the company's stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $165.00, for a total transaction of $2,122,065.00. Following the completion of the transaction, the president directly owned 165,692 shares in the company, valued at $27,339,180. This represents a 7.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Lynn C. Martin sold 13,456 shares of the company's stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $153.86, for a total transaction of $2,070,340.16. Following the transaction, the insider owned 54,319 shares of the company's stock, valued at approximately $8,357,521.34. This represents a 19.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 343,696 shares of company stock worth $53,397,715 over the last 90 days. 0.84% of the stock is owned by corporate insiders.

Intercontinental Exchange Stock Performance

Shares of Intercontinental Exchange stock opened at $153.57 on Thursday. The company has a 50 day moving average of $160.23 and a 200-day moving average of $159.99. Intercontinental Exchange Inc. has a 1-year low of $143.17 and a 1-year high of $189.35. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63. The company has a market cap of $86.84 billion, a PE ratio of 22.35, a price-to-earnings-growth ratio of 1.43 and a beta of 0.96.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share for the quarter, topping analysts' consensus estimates of $2.23 by $0.12. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The company had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $2.88 billion. During the same quarter in the prior year, the firm posted $1.72 EPS. The firm's quarterly revenue was up 20.4% on a year-over-year basis. As a group, equities research analysts forecast that Intercontinental Exchange Inc. will post 8.16 earnings per share for the current fiscal year.

Intercontinental Exchange Company 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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