Element Capital Management LLC Purchases Shares of 6,993 Intercontinental Exchange Inc. $ICE

Element Capital Management LLC purchased a new stake in Intercontinental Exchange Inc. (NYSE:ICE) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 6,993 shares of the financial services provider’s stock, valued at approximately $1,133,000.

A number of other hedge funds also recently made changes to their positions in the stock. Evolve Private Wealth LLC acquired a new position in shares of Intercontinental Exchange in the 4th quarter valued at $346,000. Capitolis Liquid Global Markets LLC lifted its holdings in shares of Intercontinental Exchange by 35.0% during the 4th quarter. Capitolis Liquid Global Markets LLC now owns 36,789 shares of the financial services provider’s stock valued at $5,958,000 after acquiring an additional 9,539 shares in the last quarter. Cinctive Capital Management LP acquired a new position in shares of Intercontinental Exchange during the 4th quarter valued at $7,686,000. Claar Advisors LLC lifted its holdings in shares of Intercontinental Exchange by 0.3% during the 4th quarter. Claar Advisors LLC now owns 57,654 shares of the financial services provider’s stock valued at $9,338,000 after acquiring an additional 150 shares in the last quarter. Finally, City National Bank of Florida MSD lifted its holdings in shares of Intercontinental Exchange by 10.7% during the 4th quarter. City National Bank of Florida MSD now owns 2,474 shares of the financial services provider’s stock valued at $401,000 after acquiring an additional 239 shares in the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Insider Activity

In related news, Director William Jefferson Hague sold 1,333 shares of Intercontinental Exchange stock in a transaction on Friday, June 12th. The shares were sold at an average price of $139.46, for a total transaction of $185,900.18. Following the sale, the director owned 20,132 shares of the company’s stock, valued at $2,807,608.72. The trade was a 6.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO Mayur Kapani sold 4,271 shares of Intercontinental Exchange stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $155.42, for a total transaction of $663,798.82. Following the sale, the chief technology officer directly owned 64,869 shares in the company, valued at $10,081,939.98. This trade represents a 6.18% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 13,425 shares of company stock worth $2,046,324 over the last three months. 0.84% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Keefe, Bruyette & Woods assumed coverage on shares of Intercontinental Exchange in a report on Wednesday, April 8th. They set an “outperform” rating and a $190.00 target price on the stock. UBS Group restated a “buy” rating and set a $205.00 target price on shares of Intercontinental Exchange in a report on Wednesday, May 20th. Weiss Ratings lowered shares of Intercontinental Exchange from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, June 2nd. Piper Sandler restated an “overweight” rating and set a $211.00 target price (up from $195.00) on shares of Intercontinental Exchange in a report on Wednesday, April 15th. Finally, Barclays restated an “overweight” rating and set a $201.00 target price (up from $198.00) on shares of Intercontinental Exchange in a report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $193.00.

Intercontinental Exchange Stock Performance

Intercontinental Exchange stock opened at $134.41 on Thursday. Intercontinental Exchange Inc. has a 12-month low of $133.73 and a 12-month high of $189.35. The company has a market capitalization of $76.01 billion, a price-to-earnings ratio of 19.56, 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 current ratio of 1.01 and a quick ratio of 1.01. The firm’s fifty day moving average price is $152.67 and its 200 day moving average price is $158.94.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $2.88 billion. During the same quarter in the previous year, the firm posted $1.72 EPS. The firm’s quarterly revenue was up 20.4% on a year-over-year basis. On average, research analysts forecast that Intercontinental Exchange Inc. will post 8.16 EPS for the current fiscal year.

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.