Intercontinental Exchange Inc. $ICE Shares Acquired by Promethium Advisors LLC

Key Points

• Promethium Advisors LLC increased its stake in Intercontinental Exchange Inc. by 34.7%, holding 11,423 shares valued at $1.97 million as of the latest filing.
• Several institutional investors, including Brighton Jones LLC and Ancora Advisors LLC, also boosted their holdings in Intercontinental Exchange during the fourth quarter.
• Analysts have raised price targets for Intercontinental Exchange, with Piper Sandler increasing it from $180 to $202 and UBS Group from $195 to $210, reflecting a positive outlook on the stock.

Promethium Advisors LLC raised its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 34.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,423 shares of the financial services provider's stock after buying an additional 2,945 shares during the quarter. Intercontinental Exchange comprises about 1.3% of Promethium Advisors LLC's portfolio, making the stock its 26th biggest holding. Promethium Advisors LLC's holdings in Intercontinental Exchange were worth $1,970,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Vanguard Group Inc. grew its holdings 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 in the last quarter. Royal Bank of Canada grew its holdings in shares of Intercontinental Exchange by 132.9% in the fourth quarter. Royal Bank of Canada now owns 9,121,352 shares of the financial services provider's stock valued at $1,359,173,000 after purchasing an additional 5,204,309 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Intercontinental Exchange by 491.3% in the first 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 purchasing an additional 5,345,388 shares during the period. Independent Franchise Partners LLP grew its holdings in shares of Intercontinental Exchange by 0.5% in the first quarter. Independent Franchise Partners LLP now owns 6,192,424 shares of the financial services provider's stock valued at $1,068,193,000 after purchasing an additional 31,588 shares during the period. Finally, Wellington Management Group LLP boosted its stake in Intercontinental Exchange by 113.9% during the first quarter. Wellington Management Group LLP now owns 5,943,363 shares of the financial services provider's stock worth $1,025,230,000 after buying an additional 3,165,381 shares during the period. Hedge funds and other institutional investors own 89.30% of the company's stock.

Insider Buying and Selling at Intercontinental Exchange

In related news, General Counsel Andrew J. Surdykowski sold 3,850 shares of Intercontinental Exchange stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $178.33, for a total value of $686,570.50. Following the transaction, the general counsel directly owned 46,293 shares in the company, valued at $8,255,430.69. This trade represents a 7.68% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Douglas Foley sold 1,600 shares of the firm's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $177.48, for a total value of $283,968.00. Following the completion of the sale, the senior vice president directly owned 27,313 shares of the company's stock, valued at approximately $4,847,511.24. This trade represents a 5.53% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 227,830 shares of company stock valued at $41,668,789. 1.00% of the stock is owned by company insiders.

Intercontinental Exchange Stock Down 0.2%

Intercontinental Exchange stock traded down $0.26 during mid-day trading on Friday, hitting $174.26. The company had a trading volume of 3,104,192 shares, compared to its average volume of 2,714,532. The stock has a market cap of $99.75 billion, a price-to-earnings ratio of 33.45, a PEG ratio of 2.08 and a beta of 1.10. Intercontinental Exchange Inc. has a 1 year low of $142.29 and a 1 year high of $189.35. 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 business has a fifty day moving average of $181.49 and a 200 day moving average of $174.77.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last announced its earnings results on Thursday, July 31st. The financial services provider reported $1.81 earnings per share (EPS) for the quarter, topping 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 for the quarter was up 9.8% compared to the same quarter last year. During the same period last year, the firm posted $1.52 earnings per share. On average, sell-side analysts expect that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ICE. 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 research note on Tuesday, July 15th. Barclays increased their price target on shares of Intercontinental Exchange from $206.00 to $212.00 and gave the stock an "overweight" rating in a research 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 company a "buy" rating in a report on Tuesday, July 8th. Ten investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target 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.