Partners Capital Investment Group LLP Buys Shares of 19,090 Intercontinental Exchange Inc. $ICE

Key Points

• Partners Capital Investment Group initiated a position in Intercontinental Exchange by purchasing 19,090 shares worth approximately $2.35 million. Institutional investors collectively own 89.30% of ICE’s outstanding shares.
• ICE reported quarterly EPS of $1.90, exceeding analyst expectations of $1.84, while revenue reached $3.61 billion and increased 4.8% year over year.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $183.33, compared with the reported share price of $162.89.

Partners Capital Investment Group LLP bought a new position in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 19,090 shares of the financial services provider's stock, valued at approximately $2,350,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ICE. J. Stern & Co. LLP boosted its position in shares of Intercontinental Exchange by 17,398.1% during the fourth quarter. J. Stern & Co. LLP now owns 54,107,273 shares of the financial services provider's stock valued at $8,763,214,000 after buying an additional 53,798,055 shares during the last quarter. BlackRock Inc. purchased a new position in Intercontinental Exchange in the 2nd quarter worth about $6,245,085,000. Norges Bank bought a new position in Intercontinental Exchange during the 4th quarter valued at about $1,418,228,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Intercontinental Exchange during the 2nd quarter valued at about $714,869,000. Finally, Flossbach Von Storch SE purchased a new stake in shares of Intercontinental Exchange during the 2nd quarter valued at about $649,900,000. 89.30% of the stock is owned by institutional investors.

Intercontinental Exchange Price Performance

NYSE ICE opened at $162.89 on Tuesday. The company has a 50-day moving average price of $142.80 and a 200-day moving average price of $151.54. Intercontinental Exchange Inc. has a 52 week low of $121.79 and a 52 week high of $181.65. 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 firm has a market capitalization of $91.45 billion, a P/E ratio of 23.01, a PEG ratio of 1.57 and a beta of 0.92.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.84 by $0.06. The company had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $2.63 billion. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The firm's revenue was up 4.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.81 earnings per share. Equities research analysts anticipate that Intercontinental Exchange Inc. will post 8.1 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ICE. Raymond James Financial set a $208.00 price target on shares of Intercontinental Exchange in a research note on Monday, July 6th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $178.00 target price on shares of Intercontinental Exchange in a report on Friday, July 31st. TD Cowen reaffirmed a "buy" rating and issued a $177.00 target price (up from $159.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. Piper Sandler decreased their target price on shares of Intercontinental Exchange from $211.00 to $190.00 and set an "overweight" rating for the company in a research note on Wednesday, July 15th. Finally, The Goldman Sachs Group lowered their price target on Intercontinental Exchange from $208.00 to $180.00 and set a "buy" rating on the stock in a report on Tuesday, June 30th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $183.33.

Insider Buying and Selling at Intercontinental Exchange

In other news, CTO Mayur Kapani sold 4,271 shares of Intercontinental Exchange stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $151.20, for a total transaction of $645,775.20. Following the transaction, the chief technology officer owned 67,988 shares in the company, valued at $10,279,785.60. This trade represents a 5.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Douglas Foley sold 7,300 shares of the business's stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $148.88, for a total transaction of $1,086,824.00. Following the sale, the senior vice president directly owned 19,063 shares of the company's stock, valued at approximately $2,838,099.44. The trade was a 27.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 17,227 shares of company stock valued at $2,598,301 over the last three months. Insiders own 0.84% of the company's stock.

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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