Intercontinental Exchange Inc. $ICE Stock Holdings Lifted by Cerity Partners LLC

Key Points

• Cerity Partners LLC increased its stake in Intercontinental Exchange by 5.5% in the fourth quarter, adding 14,577 shares to bring its total holding to 279,857 shares worth about $45.3 million.
• Several insiders sold shares recently, including CFO Warren Gardiner and CTO Mayur Kapani, with insiders selling 12,001 shares in the last quarter overall. Even so, insiders still own 0.84% of the company.
• ICE reported strong quarterly results with EPS of $2.35 and revenue of $3.67 billion, both above analyst expectations. The stock was trading down 0.8% and analysts maintain a Moderate Buy consensus with an average price target of $194.60.

Cerity Partners LLC raised its position in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 5.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 279,857 shares of the financial services provider's stock after purchasing an additional 14,577 shares during the quarter. Cerity Partners LLC's holdings in Intercontinental Exchange were worth $45,326,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Ares Financial Consulting LLC bought a new stake in shares of Intercontinental Exchange during the 4th quarter worth about $25,000. Holos Integrated Wealth LLC bought a new stake in shares of Intercontinental Exchange during the 4th quarter worth about $28,000. Steph & Co. boosted its stake in shares of Intercontinental Exchange by 104.7% during the 4th quarter. Steph & Co. now owns 174 shares of the financial services provider's stock worth $28,000 after acquiring an additional 89 shares in the last quarter. Dorato Capital Management bought a new stake in shares of Intercontinental Exchange during the 4th quarter worth about $29,000. Finally, Lloyd Advisory Services LLC. bought a new stake in shares of Intercontinental Exchange during the 4th quarter worth about $30,000. Hedge funds and other institutional investors own 89.30% of the company's stock.

Insider Transactions at Intercontinental Exchange

In other news, CFO Warren Gardiner sold 2,490 shares of the stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $156.64, for a total value of $390,033.60. Following the completion of the transaction, the chief financial officer directly owned 25,189 shares of the company's stock, valued at approximately $3,945,604.96. This represents a 9.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO Mayur Kapani sold 4,271 shares of the stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $155.42, for a total value of $663,798.82. Following the completion of the transaction, the chief technology officer directly owned 64,869 shares of the company's stock, valued at approximately $10,081,939.98. The trade was a 6.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 12,001 shares of company stock worth $1,847,820. Insiders own 0.84% of the company's stock.

Intercontinental Exchange Trading Down 0.8%

Intercontinental Exchange stock opened at $140.45 on Thursday. The business has a 50 day moving average price of $154.94 and a two-hundred day moving average price of $159.52. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63. The stock has a market cap of $79.43 billion, a price-to-earnings ratio of 20.44, a price-to-earnings-growth ratio of 1.36 and a beta of 0.92. Intercontinental Exchange Inc. has a 12 month low of $136.67 and a 12 month high of $189.35.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The financial services provider reported $2.35 EPS for the quarter, beating the consensus estimate of $2.23 by $0.12. The firm had revenue of $3.67 billion during the quarter, compared to analysts' expectations of $2.88 billion. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The company's revenue for the quarter was up 20.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.72 EPS. As a group, equities analysts forecast that Intercontinental Exchange Inc. will post 8.16 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ICE. Keefe, Bruyette & Woods began coverage on Intercontinental Exchange in a research note on Wednesday, April 8th. They set an "outperform" rating and a $190.00 price target for the company. Barclays reissued an "overweight" rating and set a $201.00 price objective (up from $198.00) on shares of Intercontinental Exchange in a research report 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 report on Wednesday, April 15th. Weiss Ratings cut Intercontinental Exchange from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday, June 2nd. Finally, Morgan Stanley boosted their price objective on Intercontinental Exchange from $183.00 to $187.00 and gave the stock an "equal weight" rating in a research report on Friday, April 10th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $194.60.

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.

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