Arrowstreet Capital Limited Partnership Boosts Stake in Intercontinental Exchange Inc. $ICE

Arrowstreet Capital Limited Partnership boosted its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 0.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,426,248 shares of the financial services provider’s stock after buying an additional 10,307 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Intercontinental Exchange were worth $392,955,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. ICONIQ Capital LLC lifted its stake in Intercontinental Exchange by 2.2% in the 2nd quarter. ICONIQ Capital LLC now owns 2,621 shares of the financial services provider’s stock valued at $481,000 after buying an additional 56 shares in the last quarter. Mechanics Financial Corp lifted its stake in Intercontinental Exchange by 1.0% in the 4th quarter. Mechanics Financial Corp now owns 6,138 shares of the financial services provider’s stock valued at $994,000 after buying an additional 60 shares in the last quarter. Mission Wealth Management LP lifted its stake in Intercontinental Exchange by 2.4% in the 4th quarter. Mission Wealth Management LP now owns 2,611 shares of the financial services provider’s stock valued at $423,000 after buying an additional 62 shares in the last quarter. Aaron Wealth Advisors LLC lifted its stake in Intercontinental Exchange by 1.9% in the 4th quarter. Aaron Wealth Advisors LLC now owns 3,384 shares of the financial services provider’s stock valued at $548,000 after buying an additional 63 shares in the last quarter. Finally, Evergreen Capital Management LLC lifted its stake in Intercontinental Exchange by 1.5% in the 4th quarter. Evergreen Capital Management LLC now owns 4,207 shares of the financial services provider’s stock valued at $681,000 after buying an additional 63 shares in the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Analysts Set New Price Targets

ICE has been the subject of several analyst reports. Rothschild & Co Redburn set a $177.00 price target on Intercontinental Exchange in a report on Thursday. Keefe, Bruyette & Woods initiated coverage on Intercontinental Exchange in a report on Wednesday, April 8th. They issued an “outperform” rating and a $190.00 price target for the company. Weiss Ratings downgraded Intercontinental Exchange from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, June 2nd. Morgan Stanley boosted their price target on Intercontinental Exchange from $183.00 to $187.00 and gave the company an “equal weight” rating in a report on Friday, April 10th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $211.00 price target (up from $195.00) on shares of Intercontinental Exchange in a report on Wednesday, April 15th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $193.00.

Intercontinental Exchange Trading Up 0.9%

Shares of ICE opened at $140.26 on Friday. The stock has a fifty day moving average of $154.22 and a two-hundred day moving average of $159.27. 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 company has a market capitalization 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. Intercontinental Exchange Inc. has a fifty-two week low of $136.67 and a fifty-two week high of $189.35.

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

Insider Transactions at Intercontinental Exchange

In other news, Director Sharon Bowen sold 667 shares of the company’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $151.28, for a total transaction 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 represents a 4.24% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Warren Gardiner sold 2,490 shares of the company’s stock in a transaction 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. The trade was a 9.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 12,092 shares of company stock valued at $1,860,424. Corporate insiders own 0.84% of the company’s stock.

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.