Van Hulzen Asset Management LLC Buys New Holdings in Intercontinental Exchange Inc. $ICE

Key Points

• Van Hulzen Asset Management initiated a position in Intercontinental Exchange, buying 14,388 shares valued at approximately $1.77 million. Other institutions also added shares, with institutional investors owning 89.3% of ICE.
• Analysts maintain a generally positive view, with one Strong Buy, nine Buy, and two Hold ratings. The stock has an average price target of $183.33, above its reported opening price of $162.89.
• ICE exceeded quarterly earnings expectations, reporting $1.90 EPS versus the $1.84 consensus and $3.61 billion in revenue, up 4.8% year over year. However, company insiders sold 17,227 shares worth roughly $2.6 million over the past 90 days.

Van Hulzen Asset Management LLC purchased a new position in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 14,388 shares of the financial services provider's stock, valued at approximately $1,771,000.

A number of other institutional investors also recently bought and sold shares of ICE. Peak Asset Management LLC purchased a new stake in shares of Intercontinental Exchange in the 2nd quarter valued at $267,000. Fiduciary Financial Advisors purchased a new position in shares of Intercontinental Exchange during the second quarter worth $33,000. Manning & Napier Advisors LLC purchased a new position in shares of Intercontinental Exchange during the second quarter worth $386,000. Goodnow Investment Group LLC acquired a new position in Intercontinental Exchange during the second quarter valued at $7,196,000. Finally, Hyperion Capital Advisors LP acquired a new position in Intercontinental Exchange during the second quarter valued at $3,073,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CTO Mayur Kapani sold 4,271 shares of the company's stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $151.20, for a total value of $645,775.20. Following the completion of the transaction, the chief technology officer owned 67,988 shares of the company's stock, valued at approximately $10,279,785.60. This represents a 5.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director William Jefferson Hague sold 1,333 shares of the stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $139.46, for a total value of $185,900.18. Following the transaction, the director owned 20,132 shares in the company, valued at $2,807,608.72. This represents a 6.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 17,227 shares of company stock worth $2,598,301 in the last 90 days. 0.84% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. UBS Group reaffirmed a "buy" rating and issued a $195.00 price target (up from $190.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. Morgan Stanley decreased 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. Piper Sandler lowered their target price on Intercontinental Exchange from $211.00 to $190.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 15th. Barclays reaffirmed an "overweight" rating and set a $182.00 target price (up from $180.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. Finally, Rothschild & Co Redburn set a $177.00 price target on Intercontinental Exchange in a research report on Thursday, June 11th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, Intercontinental Exchange currently has an average rating of "Moderate Buy" and an average price target of $183.33.

Intercontinental Exchange Stock Up 1.0%

ICE stock opened at $162.89 on Tuesday. Intercontinental Exchange Inc. has a one year low of $121.79 and a one year high of $181.65. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01. The firm's fifty day moving average is $142.80 and its 200 day moving average is $151.54. The firm has a market cap of $91.45 billion, a PE ratio of 23.01, a P/E/G ratio of 1.57 and a beta of 0.92.

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

About Intercontinental Exchange

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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