Nicholas Company Inc. Has $70.80 Million Stake in Intercontinental Exchange Inc. $ICE

Key Points

• Nicholas Company Inc. increased its stake in Intercontinental Exchange by 10.1% in the fourth quarter, ending with 437,155 shares valued at about $70.8 million.
• Institutional interest in ICE remains strong, with 89.3% of shares held by institutional investors and hedge funds, while several other firms also boosted their positions.
• Analysts remain broadly bullish on the stock, with a consensus Buy rating and an average price target of $194.10; the company also recently reported earnings and revenue that beat expectations.

Nicholas Company Inc. increased its position in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 10.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 437,155 shares of the financial services provider's stock after buying an additional 40,240 shares during the period. Intercontinental Exchange accounts for approximately 1.2% of Nicholas Company Inc.'s investment portfolio, making the stock its 21st biggest position. Nicholas Company Inc. owned approximately 0.08% of Intercontinental Exchange worth $70,802,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Dynasty Wealth Management LLC acquired a new position in Intercontinental Exchange during the third quarter worth $897,000. Rockland Trust Co. increased its holdings in Intercontinental Exchange by 19.7% during the third quarter. Rockland Trust Co. now owns 127,652 shares of the financial services provider's stock worth $21,507,000 after buying an additional 20,981 shares during the last quarter. Eastern Bank increased its holdings in Intercontinental Exchange by 14.6% during the third quarter. Eastern Bank now owns 203,731 shares of the financial services provider's stock worth $34,325,000 after buying an additional 25,980 shares during the last quarter. M&G PLC increased its holdings in Intercontinental Exchange by 18.4% during the third quarter. M&G PLC now owns 107,070 shares of the financial services provider's stock worth $17,988,000 after buying an additional 16,635 shares during the last quarter. Finally, McKinley Carter Wealth Services Inc. increased its holdings in Intercontinental Exchange by 15.9% during the third quarter. McKinley Carter Wealth Services Inc. now owns 31,506 shares of the financial services provider's stock worth $5,308,000 after buying an additional 4,333 shares during the last quarter. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on ICE shares. UBS Group restated a "buy" rating and set a $200.00 target price on shares of Intercontinental Exchange in a report on Monday, February 9th. Morgan Stanley boosted their target price on shares of Intercontinental Exchange from $183.00 to $187.00 and gave the stock an "equal weight" rating in a report on Friday, April 10th. Deutsche Bank Aktiengesellschaft upgraded shares of Intercontinental Exchange from a "hold" rating to a "buy" rating and set a $188.00 price objective on the stock in a report on Friday, March 6th. Barclays reiterated an "overweight" rating and issued a $201.00 price objective (up from $198.00) on shares of Intercontinental Exchange in a report on Friday, May 1st. Finally, Piper Sandler reiterated an "overweight" rating and issued a $211.00 price objective (up from $195.00) on shares of Intercontinental Exchange in a report on Wednesday, April 15th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $194.10.

Insider Transactions at Intercontinental Exchange

In other news, insider Lynn C. Martin sold 13,456 shares of the business's stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $153.86, for a total value of $2,070,340.16. Following the completion of the sale, the insider owned 54,319 shares of the company's stock, valued at approximately $8,357,521.34. The trade was a 19.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the business's stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $155.00, for a total transaction of $23,250,000.00. Following the completion of 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 SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 343,696 shares of company stock valued at $53,397,715. Corporate insiders own 0.84% of the company's stock.

Intercontinental Exchange Price Performance

NYSE:ICE opened at $155.76 on Monday. Intercontinental Exchange Inc. has a one year low of $143.17 and a one year high of $189.35. The company has a market cap of $88.09 billion, a P/E ratio of 22.67, a P/E/G ratio of 1.44 and a beta of 0.96. The firm's fifty day moving average price is $160.25 and its two-hundred day moving average price is $160.01. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last released its quarterly earnings data 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. 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 for the quarter, compared to the consensus estimate of $2.88 billion. During the same period in the previous year, the company earned $1.72 earnings per share. The company's quarterly revenue was up 20.4% on a year-over-year basis. Equities analysts expect that Intercontinental Exchange Inc. will post 8.16 earnings per share for the current year.

Intercontinental Exchange Company 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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