Winthrop Advisory Group LLC Invests $484,000 in Intercontinental Exchange Inc. $ICE

Key Points

• Winthrop Advisory Group LLC has made a significant investment of $484,000 in Intercontinental Exchange Inc. by acquiring 2,640 shares this past quarter.
• Institutional interest in Intercontinental Exchange is strong, with 89.30% of its shares held by institutional investors and significant increases in holdings by firms like Price T Rowe Associates and Wellington Management Group.
• Intercontinental Exchange reported an EPS of $1.81 for the last quarter, exceeding estimates, and logged a revenue of $3.26 billion, representing a 9.8% year-over-year growth.

Winthrop Advisory Group LLC acquired a new position in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 2,640 shares of the financial services provider's stock, valued at approximately $484,000.

A number of other large investors have also made changes to their positions in ICE. Price T Rowe Associates Inc. MD increased its holdings in shares of Intercontinental Exchange by 491.3% in the 1st 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. Nuveen LLC acquired a new position in shares of Intercontinental Exchange in the first quarter worth $575,383,000. Wellington Management Group LLP increased its stake in shares of Intercontinental Exchange by 113.9% in 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 acquiring an additional 3,165,381 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Intercontinental Exchange by 50.6% in the first quarter. Bank of New York Mellon Corp now owns 5,933,532 shares of the financial services provider's stock worth $1,023,534,000 after acquiring an additional 1,993,084 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its position in Intercontinental Exchange by 31.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,575,859 shares of the financial services provider's stock worth $616,836,000 after purchasing an additional 861,679 shares during the last quarter. Institutional investors and hedge funds own 89.30% of the company's stock.

Intercontinental Exchange Trading Up 1.7%

Shares of Intercontinental Exchange stock opened at $161.76 on Wednesday. The company's fifty day simple moving average is $175.60 and its 200-day simple moving average is $174.47. The company has a market cap of $92.60 billion, a price-to-earnings ratio of 31.05, a PEG ratio of 1.94 and a beta of 1.08. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. Intercontinental Exchange Inc. has a 1 year low of $142.29 and a 1 year high of $189.35.

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, topping the consensus estimate of $1.77 by $0.04. The company 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 business's quarterly revenue was up 9.8% on a year-over-year basis. During the same period last year, the business posted $1.52 EPS. As a group, sell-side analysts expect that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Insider Buying and Selling at Intercontinental Exchange

In related news, COO Stuart Glen Williams sold 939 shares of Intercontinental Exchange stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $172.04, for a total transaction of $161,545.56. Following the sale, the chief operating officer directly owned 16,624 shares of the company's stock, valued at $2,859,992.96. This trade represents a 5.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Duriya M. Farooqui sold 2,036 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $178.34, for a total value of $363,100.24. Following the sale, the director directly owned 14,299 shares in the company, valued at $2,550,083.66. The trade was a 12.46% decrease in their position. The disclosure for this sale can be found here. Insiders sold 230,874 shares of company stock valued at $42,187,714 over the last quarter. Company insiders own 1.00% of the company's stock.

Analysts Set New Price Targets

ICE has been the topic of a number of research reports. Barclays increased their price objective on Intercontinental Exchange from $206.00 to $212.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. UBS Group increased their target price on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. Morgan Stanley lowered their target price on shares of Intercontinental Exchange from $192.00 to $188.00 and set an "equal weight" rating on the stock in a research report on Wednesday, October 1st. JPMorgan Chase & Co. increased their target price on shares of Intercontinental Exchange from $195.00 to $203.00 and gave the stock an "overweight" rating in a research report on Thursday, September 25th. Finally, Piper Sandler increased their price objective on Intercontinental Exchange from $180.00 to $202.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. Nine investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Intercontinental Exchange currently has a consensus rating of "Moderate Buy" and a consensus target price of $198.20.

About Intercontinental Exchange

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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