10,688 Shares in Intercontinental Exchange Inc. $ICE Acquired by Mystic Asset Management Inc.

Mystic Asset Management Inc. purchased a new stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 10,688 shares of the financial services provider’s stock, valued at approximately $1,316,000.

Several other institutional investors and hedge funds also recently bought and sold shares of ICE. Vanguard Group Inc. increased its holdings in Intercontinental Exchange by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 54,153,170 shares of the financial services provider’s stock worth $8,770,647,000 after buying an additional 413,639 shares during the last quarter. J. Stern & Co. LLP raised its holdings in Intercontinental Exchange by 17,398.1% in the 4th quarter. J. Stern & Co. LLP now owns 54,107,273 shares of the financial services provider’s stock worth $8,763,214,000 after acquiring an additional 53,798,055 shares during the period. BlackRock Inc. acquired a new position in shares of Intercontinental Exchange during the 2nd quarter worth about $6,245,085,000. State Street Corp lifted its holdings in shares of Intercontinental Exchange by 3.4% during the fourth quarter. State Street Corp now owns 25,653,952 shares of the financial services provider’s stock worth $4,154,914,000 after buying an additional 837,208 shares during the last quarter. Finally, Morgan Stanley boosted its position in shares of Intercontinental Exchange by 1.0% in the fourth quarter. Morgan Stanley now owns 15,875,593 shares of the financial services provider’s stock valued at $2,571,212,000 after acquiring an additional 158,450 shares during the period. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ICE. Piper Sandler lowered their price objective on shares of Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 15th. Raymond James Financial set a $208.00 price target on shares of Intercontinental Exchange in a report on Monday, July 6th. Morgan Stanley decreased their price target on shares of Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating on the stock in a research report on Friday, July 10th. Wall Street Zen downgraded shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. Finally, Barclays reaffirmed an “overweight” rating and set a $182.00 price objective (up from $180.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $183.33.

Insider Buying and Selling

In related news, Director William Jefferson Hague sold 1,333 shares of the business’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $139.46, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 4,573 shares of the company’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $151.56, for a total value of $693,083.88. Following the completion of the sale, the general counsel owned 45,473 shares in the company, valued at $6,891,887.88. This trade represents a 9.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 17,709 shares of company stock worth $2,646,042 in the last quarter. Corporate insiders own 0.84% of the company’s stock.

Intercontinental Exchange Trading Up 0.9%

Shares of ICE stock opened at $158.68 on Friday. The firm has a fifty day moving average of $141.92 and a 200-day moving average of $151.63. The stock has a market cap of $89.08 billion, a price-to-earnings ratio of 22.41, a P/E/G ratio of 1.55 and a beta of 0.92. Intercontinental Exchange Inc. has a 52-week low of $121.79 and a 52-week high of $181.65. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, July 30th. The financial services provider reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.06. The business had revenue of $3.61 billion for the quarter, compared to analyst estimates of $2.63 billion. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The firm’s revenue was up 4.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.81 EPS. On average, equities research analysts forecast that Intercontinental Exchange Inc. will post 8.11 earnings per share for the current fiscal year.

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.