Intercontinental Exchange Inc. $ICE Shares Bought by Bridges Investment Management Inc.

Key Points

• Bridges Investment Management boosted its stake in Intercontinental Exchange by 3.8% in the fourth quarter, buying 14,225 additional shares and bringing its total holding to 392,973 shares valued at about $63.6 million.
• Several other institutional investors also modestly increased their positions, and overall 89.3% of ICE shares are held by institutions and hedge funds.
• ICE reported strong quarterly results, with earnings and revenue both topping estimates; the company also has a consensus Buy rating from analysts and a target price of $194.60, while shares recently traded down 1.7% to $142.53.

Bridges Investment Management Inc. increased its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 3.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 392,973 shares of the financial services provider's stock after purchasing an additional 14,225 shares during the period. Bridges Investment Management Inc. owned 0.07% of Intercontinental Exchange worth $63,646,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. ICONIQ Capital LLC raised its position in shares of Intercontinental Exchange by 2.2% during the 2nd quarter. ICONIQ Capital LLC now owns 2,621 shares of the financial services provider's stock worth $481,000 after purchasing an additional 56 shares during the last quarter. Mechanics Financial Corp raised its position in shares of Intercontinental Exchange by 1.0% during the 4th quarter. Mechanics Financial Corp now owns 6,138 shares of the financial services provider's stock worth $994,000 after purchasing an additional 60 shares during the last quarter. Mission Wealth Management LP raised its position in shares of 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 purchasing an additional 62 shares during the last quarter. Aaron Wealth Advisors LLC raised its position in shares of Intercontinental Exchange by 1.9% during the 4th quarter. Aaron Wealth Advisors LLC now owns 3,384 shares of the financial services provider's stock worth $548,000 after purchasing an additional 63 shares during the last quarter. Finally, Evergreen Capital Management LLC grew its stake in Intercontinental Exchange by 1.5% in the 4th quarter. Evergreen Capital Management LLC now owns 4,207 shares of the financial services provider's stock worth $681,000 after acquiring an additional 63 shares during the period. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Intercontinental Exchange news, Director Sharon Bowen sold 667 shares of the business's stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $151.28, for a total value of $100,903.76. Following the transaction, the director owned 15,077 shares in the company, valued at $2,280,848.56. The trade was a 4.24% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 4,573 shares of the business's stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $151.56, for a total transaction of $693,083.88. Following the completion of the transaction, the general counsel owned 45,473 shares in the company, valued at $6,891,887.88. This represents a 9.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 12,001 shares of company stock worth $1,847,820. 0.84% of the stock is owned by corporate insiders.

Intercontinental Exchange Stock Down 1.7%

Shares of Intercontinental Exchange stock opened at $142.53 on Wednesday. The company has a fifty day moving average price of $157.12 and a 200 day moving average price of $160.10. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63. Intercontinental Exchange Inc. has a twelve month low of $136.67 and a twelve month high of $189.35. The stock has a market cap of $80.60 billion, a price-to-earnings ratio of 20.75, a price-to-earnings-growth ratio of 1.39 and a beta of 0.92.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last announced 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 firm had revenue of $3.67 billion during the quarter, compared to analysts' expectations of $2.88 billion. During the same period in the prior year, the company earned $1.72 EPS. The firm's revenue was up 20.4% on a year-over-year basis. Equities research analysts forecast that Intercontinental Exchange Inc. will post 8.16 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ICE has been the subject of several recent analyst reports. UBS Group reaffirmed a "buy" rating and issued a $205.00 target price on shares of Intercontinental Exchange in a research note on Wednesday, May 20th. Barclays reissued an "overweight" rating and set a $201.00 price objective (up from $198.00) on shares of Intercontinental Exchange in a research note on Friday, May 1st. Piper Sandler reissued an "overweight" rating and set a $211.00 price objective (up from $195.00) on shares of Intercontinental Exchange in a research note on Wednesday, April 15th. 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 research note on Friday, March 6th. Finally, 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 research note on Friday, April 10th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $194.60.

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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