Panagora Asset Management Inc. Buys 166,245 Shares of Intercontinental Exchange Inc. $ICE

Panagora Asset Management Inc. raised its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 71.6% in the fourth quarter, Holdings Channel reports. The fund owned 398,438 shares of the financial services provider’s stock after acquiring an additional 166,245 shares during the period. Panagora Asset Management Inc.’s holdings in Intercontinental Exchange were worth $64,531,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Sargent Investment Group LLC bought a new position in shares of Intercontinental Exchange during the fourth quarter valued at $799,000. South Plains Financial Inc. lifted its holdings in shares of Intercontinental Exchange by 7.4% during the fourth quarter. South Plains Financial Inc. now owns 5,572 shares of the financial services provider’s stock valued at $902,000 after acquiring an additional 383 shares during the period. MML Investors Services LLC lifted its holdings in shares of Intercontinental Exchange by 12.1% during the fourth quarter. MML Investors Services LLC now owns 63,802 shares of the financial services provider’s stock valued at $10,333,000 after acquiring an additional 6,912 shares during the period. MYDA Advisors LLC bought a new position in shares of Intercontinental Exchange during the fourth quarter valued at $3,320,000. Finally, Mariner LLC lifted its holdings in shares of Intercontinental Exchange by 6.5% during the fourth quarter. Mariner LLC now owns 118,950 shares of the financial services provider’s stock valued at $19,273,000 after acquiring an additional 7,284 shares during the period. 89.30% of the stock is owned by institutional investors.

Intercontinental Exchange Stock Performance

Shares of NYSE:ICE opened at $140.26 on Monday. Intercontinental Exchange Inc. has a twelve month low of $136.67 and a twelve month high of $189.35. The firm has a market cap of $79.32 billion, a PE ratio of 20.42, a price-to-earnings-growth ratio of 1.35 and a beta of 0.92. 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 business has a fifty day moving average of $154.22 and a 200-day moving average of $159.32.

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

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Piper Sandler reissued an “overweight” rating and set a $211.00 price objective (up from $195.00) on shares of Intercontinental Exchange in a report on Wednesday, April 15th. Deutsche Bank Aktiengesellschaft upgraded Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 target price for the company in a research note on Friday, March 6th. Rothschild & Co Redburn set a $177.00 target price on Intercontinental Exchange in a research note on Thursday. Barclays restated an “overweight” rating and issued a $201.00 target price (up from $198.00) on shares of Intercontinental Exchange in a research note on Friday, May 1st. Finally, Keefe, Bruyette & Woods initiated coverage on Intercontinental Exchange in a research note on Wednesday, April 8th. They issued an “outperform” rating and a $190.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $193.00.

Insider Transactions at Intercontinental Exchange

In related news, Director Sharon Bowen sold 667 shares of Intercontinental Exchange stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $151.28, for a total value of $100,903.76. Following the completion of the sale, the director directly owned 15,077 shares in the company, valued at $2,280,848.56. This trade represents a 4.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Warren Gardiner sold 2,490 shares of Intercontinental Exchange stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $156.64, for a total value of $390,033.60. Following the completion of the sale, the chief financial officer owned 25,189 shares of the company’s stock, valued at approximately $3,945,604.96. The trade was a 9.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 12,092 shares of company stock valued at $1,860,424 in the last three months. Company insiders own 0.84% of the company’s stock.

Intercontinental Exchange Company 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.