Intercontinental Exchange Inc. $ICE Shares Bought by Visualize Group LP

Key Points

• Visualize Group LP increased its stake in Intercontinental Exchange Inc. by 80.0% during the first quarter, owning 156,100 shares valued at approximately $26.9 million.
• Multiple institutional investors adjusted their positions in Intercontinental Exchange, with increases ranging from 187.3% to 4,050.0% during the first quarter.
• Wall Street analysts have shown positive outlooks for the stock, with ten analysts giving a "Buy" rating and recent price targets raised to between $202.00 and $212.00.

Visualize Group LP grew its stake in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 80.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 156,100 shares of the financial services provider's stock after buying an additional 69,400 shares during the period. Intercontinental Exchange makes up approximately 8.9% of Visualize Group LP's holdings, making the stock its 6th biggest position. Visualize Group LP's holdings in Intercontinental Exchange were worth $26,927,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Tsfg LLC lifted its position in shares of Intercontinental Exchange by 187.3% during the 1st quarter. Tsfg LLC now owns 158 shares of the financial services provider's stock worth $27,000 after purchasing an additional 103 shares during the last quarter. Activest Wealth Management lifted its position in shares of Intercontinental Exchange by 4,050.0% during the 1st quarter. Activest Wealth Management now owns 166 shares of the financial services provider's stock worth $29,000 after purchasing an additional 162 shares during the last quarter. Rakuten Securities Inc. lifted its position in shares of Intercontinental Exchange by 595.8% during the 1st quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider's stock worth $29,000 after purchasing an additional 143 shares during the last quarter. REAP Financial Group LLC lifted its position in shares of Intercontinental Exchange by 116.7% during the 4th quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider's stock worth $25,000 after purchasing an additional 91 shares during the last quarter. Finally, McClarren Financial Advisors Inc. acquired a new position in shares of Intercontinental Exchange during the 1st quarter worth about $30,000. Institutional investors and hedge funds own 89.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ICE. UBS Group boosted their price objective on Intercontinental Exchange from $195.00 to $210.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. Piper Sandler boosted their price objective on Intercontinental Exchange from $180.00 to $202.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 15th. Finally, Barclays boosted their price target on Intercontinental Exchange from $206.00 to $212.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Ten research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $194.92.

Insider Buying and Selling at Intercontinental Exchange

In related news, CFO Warren Gardiner sold 1,570 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $178.45, for a total transaction of $280,166.50. Following the sale, the chief financial officer directly owned 22,106 shares in the company, valued at $3,944,815.70. This represents a 6.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Duriya M. Farooqui sold 2,036 shares of the stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $178.34, for a total value of $363,100.24. Following the sale, the director owned 14,299 shares in the company, valued at approximately $2,550,083.66. This trade represents a 12.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 227,830 shares of company stock worth $41,668,789 over the last 90 days. Company insiders own 1.00% of the company's stock.

Intercontinental Exchange Trading Down 0.2%

ICE stock opened at $174.26 on Monday. Intercontinental Exchange Inc. has a 1-year low of $142.29 and a 1-year high of $189.35. The firm has a market cap of $99.75 billion, a P/E ratio of 33.45, a P/E/G ratio of 2.08 and a beta of 1.10. The business's 50 day moving average is $181.49 and its 200-day moving average is $174.88. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61.

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

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.

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