Intercontinental Exchange Inc. $ICE is Tandem Investment Advisors Inc.’s 3rd Largest Position

Tandem Investment Advisors Inc. increased its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 4.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 847,518 shares of the financial services provider’s stock after buying an additional 39,234 shares during the quarter. Intercontinental Exchange comprises 4.9% of Tandem Investment Advisors Inc.’s holdings, making the stock its 3rd largest position. Tandem Investment Advisors Inc. owned 0.15% of Intercontinental Exchange worth $142,790,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Benedict Financial Advisors Inc. increased its stake in shares of Intercontinental Exchange by 1.8% in the 3rd quarter. Benedict Financial Advisors Inc. now owns 19,224 shares of the financial services provider’s stock worth $3,239,000 after acquiring an additional 346 shares during the last quarter. SYM FINANCIAL Corp acquired a new position in shares of Intercontinental Exchange during the 3rd quarter valued at about $365,000. MTM Investment Management LLC grew its holdings in shares of Intercontinental Exchange by 43.9% in the third quarter. MTM Investment Management LLC now owns 6,747 shares of the financial services provider’s stock valued at $1,137,000 after purchasing an additional 2,059 shares during the period. Foundations Investment Advisors LLC increased its position in Intercontinental Exchange by 14.5% during the third quarter. Foundations Investment Advisors LLC now owns 2,061 shares of the financial services provider’s stock worth $347,000 after purchasing an additional 261 shares during the last quarter. Finally, Strategic Advisors LLC increased its position in Intercontinental Exchange by 459.6% during the third quarter. Strategic Advisors LLC now owns 7,650 shares of the financial services provider’s stock worth $1,289,000 after purchasing an additional 6,283 shares during the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, Director Judith A. Sprieser sold 3,700 shares of Intercontinental Exchange stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $157.96, for a total value of $584,452.00. Following the completion of the transaction, the director directly owned 14,469 shares of the company’s stock, valued at $2,285,523.24. The trade was a 20.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Douglas Foley sold 1,600 shares of the stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $163.20, for a total transaction of $261,120.00. Following the sale, the senior vice president directly owned 24,196 shares in the company, valued at $3,948,787.20. This represents a 6.20% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 166,068 shares of company stock worth $25,470,702 over the last ninety days. Company insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on ICE. Weiss Ratings reiterated a “buy (b-)” rating on shares of Intercontinental Exchange in a report on Monday, December 29th. Morgan Stanley set a $180.00 price target on shares of Intercontinental Exchange and gave the company an “equal weight” rating in a research report on Thursday, January 15th. Piper Sandler reiterated an “overweight” rating and issued a $195.00 price objective (down from $202.00) on shares of Intercontinental Exchange in a research report on Wednesday, January 14th. UBS Group reissued a “buy” rating on shares of Intercontinental Exchange in a research note on Wednesday, January 7th. Finally, Keefe, Bruyette & Woods raised Intercontinental Exchange to a “moderate buy” rating in a research note on Monday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $193.50.

Intercontinental Exchange Stock Up 1.5%

NYSE:ICE opened at $174.96 on Friday. Intercontinental Exchange Inc. has a 52 week low of $143.17 and a 52 week high of $189.35. The stock’s fifty day moving average is $163.64 and its two-hundred day moving average is $167.03. The stock has a market capitalization of $99.76 billion, a price-to-earnings ratio of 31.87, a price-to-earnings-growth ratio of 2.13 and a beta of 1.03. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.61.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, October 30th. The financial services provider reported $1.71 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.71. Intercontinental Exchange had a return on equity of 13.79% and a net margin of 25.24%.The business had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $2.49 billion. During the same period in the previous year, the firm posted $1.55 earnings per share. The company’s revenue was up 2.6% on a year-over-year basis. Research analysts anticipate that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange 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.