Lighthouse Financial Services Inc. ADV Takes Position in Intercontinental Exchange Inc. $ICE

Key Points

• Lighthouse Financial Services bought a new stake in Intercontinental Exchange during the fourth quarter, purchasing 8,514 shares worth about $1.38 million.
• ICE reported strong quarterly results, with earnings of $2.35 per share beating estimates and revenue of $3.67 billion, up 20.4% year over year.
• Despite solid fundamentals, insiders sold shares recently, including CEO Jeffrey C. Sprecher and CTO Mayur Kapani, while analysts still maintain a Buy consensus with an average price target of $194.10.

Lighthouse Financial Services Inc. ADV purchased a new stake in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 8,514 shares of the financial services provider's stock, valued at approximately $1,379,000.

Several other hedge funds also recently modified their holdings of the company. International Assets Investment Management LLC acquired a new position in shares of Intercontinental Exchange during the 4th quarter valued at $124,000. Diversify Wealth Management LLC acquired a new position in shares of Intercontinental Exchange during the 4th quarter valued at $268,000. Generali Asset Management SPA SGR increased its position in shares of Intercontinental Exchange by 20.0% during the 4th quarter. Generali Asset Management SPA SGR now owns 41,815 shares of the financial services provider's stock valued at $6,772,000 after purchasing an additional 6,963 shares during the period. ASR Vermogensbeheer N.V. grew its holdings in shares of Intercontinental Exchange by 23.9% in the 4th quarter. ASR Vermogensbeheer N.V. now owns 227,412 shares of the financial services provider's stock worth $36,832,000 after acquiring an additional 43,870 shares during the last quarter. Finally, Premier Fund Managers Ltd grew its holdings in shares of Intercontinental Exchange by 10.4% in the 4th quarter. Premier Fund Managers Ltd now owns 76,124 shares of the financial services provider's stock worth $12,423,000 after acquiring an additional 7,160 shares during the last quarter. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Intercontinental Exchange Stock Performance

Shares of ICE stock opened at $155.76 on Friday. Intercontinental Exchange Inc. has a 1-year low of $143.17 and a 1-year high of $189.35. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $88.09 billion, a price-to-earnings ratio of 22.67, a P/E/G ratio of 1.44 and a beta of 0.96. The stock's fifty day simple moving average is $160.25 and its 200-day simple moving average is $160.01.

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

Insider Buying and Selling at Intercontinental Exchange

In other news, CTO Mayur Kapani sold 15,213 shares of Intercontinental Exchange stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $155.02, for a total transaction of $2,358,319.26. Following the transaction, the chief technology officer owned 64,869 shares in the company, valued at approximately $10,055,992.38. The trade was a 19.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of Intercontinental Exchange stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $155.00, for a total value of $23,250,000.00. Following the sale, the chief executive officer directly owned 1,651,705 shares of the company's stock, valued at approximately $256,014,275. The trade was a 8.33% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 343,696 shares of company stock valued at $53,397,715 in the last ninety days. Company insiders own 0.84% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ICE. Wall Street Zen upgraded Intercontinental Exchange from a "sell" rating to a "hold" rating in a report on Saturday, February 7th. Piper Sandler restated an "overweight" rating and issued a $211.00 target price (up from $195.00) on shares of Intercontinental Exchange in a report on Wednesday, April 15th. Weiss Ratings cut Intercontinental Exchange from a "buy (b)" rating to a "buy (b-)" rating in a report on Friday, April 24th. Deutsche Bank Aktiengesellschaft upgraded Intercontinental Exchange from a "hold" rating to a "buy" rating and set a $188.00 target price on the stock in a report on Friday, March 6th. Finally, UBS Group restated a "buy" rating and issued a $200.00 target price on shares of Intercontinental Exchange in a report on Monday, February 9th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $194.10.

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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