Jones Financial Companies Lllp Grows Holdings in Intercontinental Exchange Inc. $ICE

Key Points

• Jones Financial Companies Lllp increased its stake in Intercontinental Exchange Inc. by 301.7% in the first quarter, owning 20,545 shares valued at approximately $3.54 million.
• Several institutional investors, including Vanguard Group and Royal Bank of Canada, also made significant increases to their positions, reflecting strong interest in the company.
• Intercontinental Exchange reported earnings of $1.81 per share, surpassing analyst expectations, with revenues of $3.26 billion for the last quarter, indicating a year-over-year revenue increase of 9.8%.

Jones Financial Companies Lllp increased its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 301.7% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 20,545 shares of the financial services provider's stock after purchasing an additional 15,430 shares during the period. Jones Financial Companies Lllp's holdings in Intercontinental Exchange were worth $3,544,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Intercontinental Exchange by 1.4% during the first quarter. Vanguard Group Inc. now owns 52,940,356 shares of the financial services provider's stock worth $9,132,211,000 after buying an additional 712,179 shares during the period. Royal Bank of Canada lifted its stake in Intercontinental Exchange by 132.9% during the 4th quarter. Royal Bank of Canada now owns 9,121,352 shares of the financial services provider's stock worth $1,359,173,000 after acquiring an additional 5,204,309 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Intercontinental Exchange by 491.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,433,497 shares of the financial services provider's stock valued at $1,109,780,000 after acquiring an additional 5,345,388 shares during the period. Amundi grew its position in Intercontinental Exchange by 14.7% in the 1st quarter. Amundi now owns 6,315,706 shares of the financial services provider's stock valued at $1,060,574,000 after acquiring an additional 810,938 shares in the last quarter. Finally, Independent Franchise Partners LLP increased its stake in Intercontinental Exchange by 0.5% during the first quarter. Independent Franchise Partners LLP now owns 6,192,424 shares of the financial services provider's stock worth $1,068,193,000 after purchasing an additional 31,588 shares during the period. Institutional investors and hedge funds own 89.30% of the company's stock.

Wall Street Analyst Weigh In

ICE has been the subject of several recent research reports. UBS Group raised their price objective on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Piper Sandler increased 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, 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 note on Friday, August 1st. Ten investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Intercontinental Exchange presently has a consensus rating of "Moderate Buy" and an average target price of $194.92.

Intercontinental Exchange Trading Down 0.7%

NYSE ICE opened at $172.25 on Thursday. Intercontinental Exchange Inc. has a 52 week low of $142.29 and a 52 week high of $189.35. The firm has a 50 day moving average of $180.94 and a two-hundred day moving average of $174.89. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $98.60 billion, a PE ratio of 33.06, a price-to-earnings-growth ratio of 2.07 and a beta of 1.10.

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

Insider Activity at Intercontinental Exchange

In related news, General Counsel Andrew J. Surdykowski sold 3,850 shares of the business's stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $178.33, for a total transaction of $686,570.50. Following the completion of the sale, the general counsel owned 46,293 shares in the company, valued at $8,255,430.69. The trade was a 7.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Duriya M. Farooqui sold 2,036 shares of the company's 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 completion of 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 disclosure for this sale can be found here. Insiders sold 229,130 shares of company stock worth $41,890,900 over the last three months. Company insiders own 1.00% of the company's stock.

Intercontinental Exchange Company 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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