PharVision Advisers LLC Takes $253,000 Position in Intercontinental Exchange Inc. $ICE

Key Points

• PharVision Advisers LLC acquired a new position in Intercontinental Exchange Inc., purchasing 1,466 shares valued at approximately $253,000 in the first quarter of 2023.
• Institutional investors now own 89.30% of Intercontinental Exchange's stock, indicating strong institutional interest in the company.
• Intercontinental Exchange reported an EPS of $1.81 for the last quarter, exceeding analysts' expectations and reflecting a year-over-year revenue increase of 9.8%.

PharVision Advisers LLC acquired a new stake in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,466 shares of the financial services provider's stock, valued at approximately $253,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. REAP Financial Group LLC boosted its holdings in shares of Intercontinental Exchange by 116.7% in the fourth quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider's stock valued at $25,000 after acquiring an additional 91 shares in the last quarter. Tsfg LLC boosted its holdings in Intercontinental Exchange by 187.3% during the first quarter. Tsfg LLC now owns 158 shares of the financial services provider's stock worth $27,000 after buying an additional 103 shares in the last quarter. Menard Financial Group LLC bought a new stake in Intercontinental Exchange during the fourth quarter worth approximately $29,000. Rakuten Securities Inc. boosted its holdings in Intercontinental Exchange by 595.8% during the first quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider's stock worth $29,000 after buying an additional 143 shares in the last quarter. Finally, Activest Wealth Management boosted its holdings in Intercontinental Exchange by 4,050.0% during the first quarter. Activest Wealth Management now owns 166 shares of the financial services provider's stock worth $29,000 after buying an additional 162 shares in the last quarter. 89.30% of the stock is currently owned by institutional investors.

Insider Transactions at Intercontinental Exchange

In related news, CFO Warren Gardiner sold 1,570 shares of the firm's stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $178.45, for a total value of $280,166.50. Following the completion of the transaction, the chief financial officer owned 22,106 shares of the company's stock, valued at approximately $3,944,815.70. This trade represents a 6.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Duriya M. Farooqui sold 2,036 shares of the firm's stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $178.34, for a total transaction 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 represents a 12.46% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 227,830 shares of company stock worth $41,668,789. 1.00% of the stock is currently owned by insiders.

Intercontinental Exchange Trading Down 0.2%

Intercontinental Exchange stock opened at $174.26 on Friday. The company has a 50 day moving average price of $181.49 and a 200 day moving average price of $174.83. Intercontinental Exchange Inc. has a 52 week low of $142.29 and a 52 week high of $189.35. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market capitalization of $99.75 billion, a price-to-earnings ratio of 33.45, a P/E/G ratio of 2.08 and a beta of 1.10.

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

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on ICE shares. Piper Sandler raised 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. Barclays raised their target price on shares of Intercontinental Exchange from $206.00 to $212.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Finally, UBS Group raised their target price on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Ten equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $194.92.

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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