Intercontinental Exchange Inc. $ICE Holdings Increased by Thurston Springer Miller Herd & Titak Inc.

Key Points

• Thurston Springer Miller Herd & Titak Inc. increased its stake in Intercontinental Exchange by 15.3%, owning 15,883 shares valued at approximately $2.9 million after purchasing an additional 2,102 shares in Q2.
• Major analysts like Barclays and Piper Sandler have raised their price targets for ICE, with Barclays now at $212 and Piper Sandler at $202, indicating strong buy sentiments for the stock.
• Intercontinental Exchange reported earnings of $1.81 per share, exceeding estimates and reflecting a 9.8% year-over-year revenue growth to $3.26 billion for the quarter ending July 31.

Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 15.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,883 shares of the financial services provider's stock after buying an additional 2,102 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.'s holdings in Intercontinental Exchange were worth $2,914,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. RB Capital Management LLC raised its position in shares of Intercontinental Exchange by 1.3% during the 2nd quarter. RB Capital Management LLC now owns 4,584 shares of the financial services provider's stock worth $841,000 after buying an additional 59 shares in the last quarter. Norway Savings Bank raised its position in shares of Intercontinental Exchange by 2.5% during the 2nd quarter. Norway Savings Bank now owns 16,058 shares of the financial services provider's stock worth $2,946,000 after buying an additional 388 shares in the last quarter. Doliver Advisors LP raised its position in shares of Intercontinental Exchange by 23.2% during the 2nd quarter. Doliver Advisors LP now owns 5,654 shares of the financial services provider's stock worth $1,037,000 after buying an additional 1,063 shares in the last quarter. AG2R LA Mondiale Gestion D Actifs bought a new stake in shares of Intercontinental Exchange during the 1st quarter worth about $3,835,000. Finally, Voya Investment Management LLC raised its position in shares of Intercontinental Exchange by 12.4% during the 1st quarter. Voya Investment Management LLC now owns 1,917,983 shares of the financial services provider's stock worth $330,602,000 after buying an additional 211,555 shares in the last quarter. 89.30% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ICE has been the topic of a number of recent analyst reports. Barclays boosted their price target on shares of Intercontinental Exchange from $206.00 to $212.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Piper Sandler boosted their target price on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. Finally, UBS Group boosted their target price on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Ten investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $194.92.

Intercontinental Exchange Stock Down 1.2%

NYSE ICE opened at $174.02 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01. The company's 50 day simple moving average is $180.62 and its 200 day simple moving average is $174.99. Intercontinental Exchange Inc. has a 12 month low of $142.29 and a 12 month high of $189.35. The company has a market capitalization of $99.61 billion, a P/E ratio of 33.40, a PEG ratio of 2.10 and a beta of 1.10.

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

Insiders Place Their Bets

In other news, Director Duriya M. Farooqui sold 2,036 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $178.34, for a total value of $363,100.24. Following the transaction, the director directly owned 14,299 shares of the company's stock, valued at $2,550,083.66. This trade represents a 12.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Judith A. Sprieser sold 2,900 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $174.51, for a total transaction of $506,079.00. Following the completion of the transaction, the director directly owned 18,169 shares in the company, valued at approximately $3,170,672.19. This trade represents a 13.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 230,730 shares of company stock valued at $42,171,892 over the last 90 days. 1.00% of the stock is owned by corporate insiders.

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.

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 and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.