Intercontinental Exchange Inc. $ICE Shares Acquired by AlphaCore Capital LLC

Key Points

• AlphaCore Capital sharply increased its stake in Intercontinental Exchange, boosting its position by 563.2% in the fourth quarter to 28,929 shares worth about $4.69 million.
• Large institutional investors remain heavily invested in ICE, with firms like Vanguard and State Street also adding shares; overall, 89.3% of the stock is owned by institutions and hedge funds.
• Wall Street sentiment is mostly positive, as analysts maintain a Buy consensus on ICE with a price target of $194.10, while the company also recently reported quarterly EPS and revenue that beat estimates.

AlphaCore Capital LLC grew its position in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 563.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,929 shares of the financial services provider's stock after purchasing an additional 24,567 shares during the period. AlphaCore Capital LLC's holdings in Intercontinental Exchange were worth $4,685,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Intercontinental Exchange by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 54,153,170 shares of the financial services provider's stock valued at $8,770,647,000 after buying an additional 413,639 shares during the period. State Street Corp raised its holdings in shares of Intercontinental Exchange by 0.8% during the 3rd quarter. State Street Corp now owns 24,816,744 shares of the financial services provider's stock valued at $4,181,125,000 after buying an additional 194,325 shares during the period. Wellington Management Group LLP raised its holdings in shares of Intercontinental Exchange by 64.7% during the 3rd quarter. Wellington Management Group LLP now owns 10,354,224 shares of the financial services provider's stock valued at $1,744,480,000 after buying an additional 4,067,922 shares during the period. Capital World Investors raised its holdings in shares of Intercontinental Exchange by 15.2% during the 3rd quarter. Capital World Investors now owns 7,028,964 shares of the financial services provider's stock valued at $1,184,238,000 after buying an additional 928,047 shares during the period. Finally, Sands Capital Management LLC raised its holdings in shares of Intercontinental Exchange by 6.9% during the 3rd quarter. Sands Capital Management LLC now owns 5,677,266 shares of the financial services provider's stock valued at $956,506,000 after buying an additional 364,227 shares during the period. 89.30% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on ICE shares. Barclays reiterated an "overweight" rating and set a $201.00 target price (up from $198.00) on shares of Intercontinental Exchange in a report on Friday, May 1st. Piper Sandler reiterated an "overweight" rating and set a $211.00 target price (up from $195.00) on shares of Intercontinental Exchange in a report on Wednesday, April 15th. TD Cowen reiterated a "buy" rating on shares of Intercontinental Exchange in a report on Friday, February 6th. Weiss Ratings downgraded Intercontinental Exchange from a "buy (b)" rating to a "buy (b-)" rating in a report on Friday, April 24th. Finally, Wall Street Zen upgraded Intercontinental Exchange from a "sell" rating to a "hold" rating in a report on Saturday, February 7th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $194.10.

Intercontinental Exchange Price Performance

ICE stock opened at $154.48 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63. Intercontinental Exchange Inc. has a 52-week low of $143.17 and a 52-week high of $189.35. The stock's 50 day moving average is $159.26 and its two-hundred day moving average is $159.94. The company has a market capitalization of $87.36 billion, a PE ratio of 22.49, a P/E/G ratio of 1.43 and a beta of 0.96.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The financial services provider reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.23 by $0.12. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The company had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $2.88 billion. During the same period in the previous year, the business earned $1.72 EPS. Intercontinental Exchange's revenue for the quarter was up 20.4% compared to the same quarter last year. Analysts predict that Intercontinental Exchange Inc. will post 8.16 earnings per share for the current fiscal year.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, insider Lynn C. Martin sold 13,456 shares of Intercontinental Exchange 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 sale, the insider directly owned 54,319 shares in the company, valued at $8,357,521.34. The trade was a 19.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Christopher Scott Edmonds sold 11,303 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $153.82, for a total value of $1,738,627.46. Following the sale, the insider owned 14,266 shares in the company, valued at $2,194,396.12. This represents a 44.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 330,835 shares of company stock worth $51,275,650 over the last ninety days. Company insiders own 0.84% of the company's stock.

About Intercontinental Exchange

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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