Vanguard Personalized Indexing Management LLC Has $17.11 Million Stock Position in Intercontinental Exchange Inc. $ICE

Key Points

• Vanguard Personalized Indexing Management LLC increased its holdings in Intercontinental Exchange Inc. by 16.8%, bringing their total shares to 93,213 worth approximately $17.11 million.
• The company reported earnings per share (EPS) of $1.81 in its recent quarter, higher than the consensus estimate of $1.77, with revenue reaching $3.26 billion, reflecting a 9.8% year-over-year increase.
• Several analysts have raised their price targets for Intercontinental Exchange, with UBS Group setting a new target of $210.00, indicating strong market confidence in the company.

Vanguard Personalized Indexing Management LLC grew its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 16.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 93,213 shares of the financial services provider's stock after buying an additional 13,425 shares during the quarter. Vanguard Personalized Indexing Management LLC's holdings in Intercontinental Exchange were worth $17,109,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Advisors Capital Management LLC grew its holdings in shares of Intercontinental Exchange by 25.0% during the first quarter. Advisors Capital Management LLC now owns 1,978 shares of the financial services provider's stock valued at $341,000 after buying an additional 396 shares during the last quarter. Capital Investment Advisory Services LLC acquired a new position in shares of Intercontinental Exchange during the first quarter valued at about $349,000. Sequoia Financial Advisors LLC boosted its holdings in Intercontinental Exchange by 18.3% during the first quarter. Sequoia Financial Advisors LLC now owns 12,168 shares of the financial services provider's stock worth $2,099,000 after purchasing an additional 1,879 shares during the last quarter. Ritholtz Wealth Management boosted its holdings in Intercontinental Exchange by 52.3% during the first quarter. Ritholtz Wealth Management now owns 7,953 shares of the financial services provider's stock worth $1,372,000 after purchasing an additional 2,732 shares during the last quarter. Finally, First American Bank boosted its holdings in Intercontinental Exchange by 2.1% during the first quarter. First American Bank now owns 76,332 shares of the financial services provider's stock worth $13,167,000 after purchasing an additional 1,580 shares during the last quarter. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Intercontinental Exchange Stock Performance

NYSE ICE opened at $157.51 on Friday. The company's 50 day moving average is $174.01 and its 200-day moving average is $174.12. Intercontinental Exchange Inc. has a 12-month low of $142.29 and a 12-month 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 firm has a market cap of $90.16 billion, a P/E ratio of 30.23, a price-to-earnings-growth ratio of 1.92 and a beta of 1.08.

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

Analysts Set New Price Targets

ICE has been the topic of several analyst reports. UBS Group boosted their price target 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. Morgan Stanley cut their price target on shares of Intercontinental Exchange from $192.00 to $188.00 and set an "equal weight" rating on the stock in a report on Wednesday, October 1st. Barclays restated an "overweight" rating and set a $201.00 price target (down from $212.00) on shares of Intercontinental Exchange in a report on Wednesday. JPMorgan Chase & Co. boosted their price target on shares of Intercontinental Exchange from $195.00 to $203.00 and gave the stock an "overweight" rating in a report on Thursday, September 25th. Finally, Piper Sandler boosted their price target 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. Nine analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, Intercontinental Exchange presently has an average rating of "Moderate Buy" and an average target price of $197.10.

Insider Buying and Selling

In other news, SVP Douglas Foley sold 1,600 shares of the business's stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $175.62, for a total value of $280,992.00. Following the sale, the senior vice president owned 25,796 shares of the company's stock, valued at $4,530,293.52. The trade was a 5.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO Mayur Kapani sold 10,082 shares of the business's stock in a transaction that occurred on Wednesday, October 8th. The shares were sold at an average price of $158.88, for a total transaction of $1,601,828.16. Following the completion of the sale, the chief technology officer directly owned 65,240 shares in the company, valued at approximately $10,365,331.20. This trade represents a 13.39% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 240,956 shares of company stock valued at $43,789,542. Corporate insiders own 1.00% of the company's stock.

Intercontinental Exchange 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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