Hyperion Capital Advisors LP Takes $3.07 Million Position in Intercontinental Exchange Inc. $ICE

Key Points

• Hyperion Capital Advisors acquired 24,961 shares of Intercontinental Exchange worth approximately $3.07 million, making ICE its 18th-largest holding and about 1.4% of its portfolio. Institutional investors collectively own 89.3% of the company.
• Intercontinental Exchange exceeded quarterly expectations, reporting $1.90 in EPS versus the $1.84 consensus and $3.61 billion in revenue, with revenue up 4.8% year over year.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $183.33, although several firms recently lowered their targets. Company insiders sold 17,227 shares worth about $2.6 million during the last quarter.

Hyperion Capital Advisors LP acquired a new position in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 24,961 shares of the financial services provider's stock, valued at approximately $3,073,000. Intercontinental Exchange makes up approximately 1.4% of Hyperion Capital Advisors LP's holdings, making the stock its 18th biggest position.

Other large investors have also recently made changes to their positions in the company. ICONIQ Capital LLC raised its holdings in Intercontinental Exchange by 2.2% in the second quarter. ICONIQ Capital LLC now owns 2,621 shares of the financial services provider's stock valued at $481,000 after acquiring an additional 56 shares in the last quarter. Mission Wealth Management LP grew its holdings in Intercontinental Exchange by 2.4% during the 4th quarter. Mission Wealth Management LP now owns 2,611 shares of the financial services provider's stock worth $423,000 after acquiring an additional 62 shares in the last quarter. Johnson Financial Group LLC increased its position in shares of Intercontinental Exchange by 4.0% in the 4th quarter. Johnson Financial Group LLC now owns 1,710 shares of the financial services provider's stock valued at $277,000 after purchasing an additional 65 shares during the last quarter. Cornerstone Planning Group LLC increased its position in shares of Intercontinental Exchange by 33.5% in the 1st quarter. Cornerstone Planning Group LLC now owns 271 shares of the financial services provider's stock valued at $42,000 after purchasing an additional 68 shares during the last quarter. Finally, Burns J W & Co. Inc. NY raised its holdings in shares of Intercontinental Exchange by 0.6% in the 1st quarter. Burns J W & Co. Inc. NY now owns 12,189 shares of the financial services provider's stock valued at $1,917,000 after purchasing an additional 69 shares in the last quarter. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Intercontinental Exchange Price Performance

Shares of ICE opened at $162.89 on Tuesday. Intercontinental Exchange Inc. has a 1-year low of $121.79 and a 1-year high of $181.65. The stock has a market cap of $91.45 billion, a PE ratio of 23.01, a price-to-earnings-growth ratio of 1.57 and a beta of 0.92. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a fifty day moving average price of $142.80 and a 200 day moving average price of $151.54.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued its quarterly earnings data 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. The company had revenue of $3.61 billion for the quarter, compared to analyst estimates of $2.63 billion. Intercontinental Exchange had a return on equity of 14.95% and a net margin of 30.08%.The business's quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.81 earnings per share. As a group, sell-side analysts anticipate that Intercontinental Exchange Inc. will post 8.1 EPS for the current year.

Analyst Ratings Changes

ICE has been the subject of several recent analyst reports. Barclays reaffirmed an "overweight" rating and set a $182.00 price objective (up from $180.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. Piper Sandler dropped their target price on Intercontinental Exchange from $211.00 to $190.00 and set an "overweight" rating on the stock in a report on Wednesday, July 15th. Weiss Ratings cut Intercontinental Exchange from a "hold (c+)" rating to a "hold (c)" rating in a research note on Tuesday, August 11th. Morgan Stanley decreased their price target on Intercontinental Exchange from $187.00 to $163.00 and set an "equal weight" rating for the company in a report on Friday, July 10th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $178.00 price objective on shares of Intercontinental Exchange in a research report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Intercontinental Exchange has a consensus rating of "Moderate Buy" and a consensus target price of $183.33.

Insider Transactions at Intercontinental Exchange

In related news, SVP Douglas Foley sold 1,600 shares of the company's stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $160.00, for a total value of $256,000.00. Following the completion of the sale, the senior vice president directly owned 17,463 shares of the company's stock, valued at $2,794,080. This represents a 8.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Warren Gardiner sold 2,491 shares of the firm's stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $156.30, for a total value of $389,343.30. Following the transaction, the chief financial officer owned 22,698 shares in the company, valued at $3,547,697.40. This represents a 9.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 17,227 shares of company stock valued at $2,598,301 over the last quarter. Company 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.

Want to see what other hedge funds are holding ICE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Intercontinental Exchange Inc. (NYSE:ICE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source