M.D. Sass LLC Lowers Holdings in Intercontinental Exchange Inc. $ICE

M.D. Sass LLC trimmed its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 1.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 322,702 shares of the financial services provider’s stock after selling 3,761 shares during the period. Intercontinental Exchange accounts for 4.1% of M.D. Sass LLC’s holdings, making the stock its 13th biggest holding. M.D. Sass LLC’s holdings in Intercontinental Exchange were worth $52,265,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Ares Financial Consulting LLC purchased a new stake in Intercontinental Exchange in the fourth quarter valued at $25,000. Dorato Capital Management purchased a new stake in Intercontinental Exchange in the fourth quarter valued at $29,000. Steph & Co. boosted its holdings in Intercontinental Exchange by 104.7% in the fourth quarter. Steph & Co. now owns 174 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 89 shares during the last quarter. Holos Integrated Wealth LLC purchased a new stake in Intercontinental Exchange in the fourth quarter valued at $28,000. Finally, Lloyd Advisory Services LLC. purchased a new stake in Intercontinental Exchange in the fourth quarter valued at $30,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 4,573 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $151.56, for a total transaction of $693,083.88. Following the completion of the sale, the general counsel directly owned 45,473 shares in the company, valued at approximately $6,891,887.88. The trade was a 9.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Warren Gardiner sold 2,490 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $156.64, for a total value of $390,033.60. Following the sale, the chief financial officer owned 25,189 shares of the company’s stock, valued at approximately $3,945,604.96. This trade represents a 9.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 12,001 shares of company stock valued at $1,847,820 in the last 90 days. Corporate insiders own 0.84% of the company’s stock.

Intercontinental Exchange Trading Down 1.7%

ICE stock opened at $142.53 on Wednesday. The company’s 50-day simple moving average is $157.12 and its 200-day simple moving average is $160.10. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63. Intercontinental Exchange Inc. has a 52-week low of $136.67 and a 52-week high of $189.35. The firm has a market cap of $80.60 billion, a P/E ratio of 20.75, a PEG ratio of 1.39 and a beta of 0.92.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share for the quarter, topping the consensus estimate of $2.23 by $0.12. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The firm had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $2.88 billion. During the same quarter in the prior year, the firm earned $1.72 EPS. The company’s revenue for the quarter was up 20.4% on a year-over-year basis. As a group, equities analysts forecast that Intercontinental Exchange Inc. will post 8.16 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. UBS Group reissued a “buy” rating and set a $205.00 target price on shares of Intercontinental Exchange in a research note on Wednesday, May 20th. Piper Sandler reissued an “overweight” rating and set a $211.00 target price (up from $195.00) on shares of Intercontinental Exchange in a research note on Wednesday, April 15th. Morgan Stanley increased their target price on shares of Intercontinental Exchange from $183.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Friday, April 10th. Keefe, Bruyette & Woods assumed coverage on shares of Intercontinental Exchange in a research note on Wednesday, April 8th. They set an “outperform” rating and a $190.00 target price on the stock. Finally, Weiss Ratings lowered shares of Intercontinental Exchange from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $194.60.

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.