Sanctuary Advisors LLC Acquires Shares of 63,170 Intercontinental Exchange Inc. $ICE

Key Points

• Sanctuary Advisors initiated a position in Intercontinental Exchange, purchasing 63,170 shares valued at approximately $7.8 million. Institutional investors and hedge funds collectively own 89.3% of ICE.
• Analysts maintain a generally positive outlook, with one Strong Buy, nine Buy and two Hold ratings; the stock has a consensus rating of Moderate Buy and an average price target of $183.33.
• ICE recently exceeded quarterly earnings expectations, reporting $1.90 in EPS versus $1.84 expected and $3.61 billion in revenue, up 4.8% year over year. However, company insiders sold 17,227 shares worth about $2.6 million over the past 90 days.

Sanctuary Advisors LLC bought a new position in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 63,170 shares of the financial services provider's stock, valued at approximately $7,777,000.

A number of other large investors also recently modified their holdings of ICE. ICONIQ Capital LLC lifted its holdings in Intercontinental Exchange by 2.2% during the 2nd quarter. ICONIQ Capital LLC now owns 2,621 shares of the financial services provider's stock worth $481,000 after buying an additional 56 shares in the last quarter. Mission Wealth Management LP increased its stake in shares of Intercontinental Exchange by 2.4% in the 4th quarter. Mission Wealth Management LP now owns 2,611 shares of the financial services provider's stock valued at $423,000 after buying an additional 62 shares during the period. Johnson Financial Group LLC raised its position in shares of Intercontinental Exchange by 4.0% during the fourth quarter. Johnson Financial Group LLC now owns 1,710 shares of the financial services provider's stock worth $277,000 after acquiring an additional 65 shares during the last quarter. Cornerstone Planning Group LLC raised its position in shares of Intercontinental Exchange by 33.5% during the first quarter. Cornerstone Planning Group LLC now owns 271 shares of the financial services provider's stock worth $42,000 after acquiring an additional 68 shares during the last quarter. Finally, Burns J W & Co. Inc. NY lifted its stake in shares of Intercontinental Exchange by 0.6% during the first quarter. Burns J W & Co. Inc. NY now owns 12,189 shares of the financial services provider's stock valued at $1,917,000 after acquiring an additional 69 shares during the period. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ICE. Piper Sandler decreased their price target on Intercontinental Exchange from $211.00 to $190.00 and set an "overweight" rating on the stock in a report on Wednesday, July 15th. Morgan Stanley dropped their price objective on Intercontinental Exchange from $187.00 to $163.00 and set an "equal weight" rating for the company in a report on Friday, July 10th. UBS Group restated a "buy" rating and set a $195.00 target price (up from $190.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. Barclays reaffirmed an "overweight" rating and issued a $182.00 target price (up from $180.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. Finally, Raymond James Financial set a $208.00 price target on shares of Intercontinental Exchange in a research note on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Intercontinental Exchange currently has an average rating of "Moderate Buy" and an average price target of $183.33.

Intercontinental Exchange Trading Up 1.0%

Shares of NYSE ICE opened at $162.89 on Tuesday. Intercontinental Exchange Inc. has a twelve month low of $121.79 and a twelve month high of $181.65. The stock has a market cap of $91.45 billion, a price-to-earnings ratio of 23.01, a P/E/G ratio of 1.57 and a beta of 0.92. 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 company's fifty day moving average is $142.80 and its 200-day moving average is $151.54.

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

Insiders Place Their Bets

In related news, SVP Douglas Foley sold 1,600 shares of the business's stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $160.00, for a total value of $256,000.00. Following the completion of the transaction, the senior vice president directly owned 17,463 shares in the company, valued at approximately $2,794,080. The trade was a 8.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Mayur Kapani sold 4,271 shares of the firm's stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $151.20, for a total transaction of $645,775.20. Following the sale, 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 17,227 shares of company stock valued at $2,598,301 over the last ninety days. 0.84% of the stock is owned by insiders.

Intercontinental Exchange 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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