Saranac Partners Ltd Acquires Shares of 53,694 Intercontinental Exchange Inc. $ICE

Saranac Partners Ltd acquired a new stake in Intercontinental Exchange Inc. (NYSE:ICE) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 53,694 shares of the financial services provider’s stock, valued at approximately $6,609,000. Intercontinental Exchange comprises approximately 1.9% of Saranac Partners Ltd’s investment portfolio, making the stock its 23rd largest position.

Several other large investors have also recently modified their holdings of ICE. PNC Financial Services Group Inc. raised its holdings in shares of Intercontinental Exchange by 5.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 191,658 shares of the financial services provider’s stock worth $31,041,000 after buying an additional 10,742 shares during the period. BlackRock Inc. bought a new position in Intercontinental Exchange in the 2nd quarter valued at $6,245,085,000. USS Investment Management Ltd increased its stake in Intercontinental Exchange by 37.2% in the first quarter. USS Investment Management Ltd now owns 946,920 shares of the financial services provider’s stock worth $148,960,000 after purchasing an additional 256,851 shares during the period. Walter Public Investments Inc. lifted its position in shares of Intercontinental Exchange by 13.8% during the fourth quarter. Walter Public Investments Inc. now owns 124,993 shares of the financial services provider’s stock worth $20,244,000 after purchasing an additional 15,129 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of 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 purchasing an additional 413,639 shares during the last quarter. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Performance

Shares of ICE stock opened at $161.29 on Monday. Intercontinental Exchange Inc. has a 12-month low of $121.79 and a 12-month high of $181.65. The business’s fifty day simple moving average is $142.34 and its 200-day simple moving average is $151.54. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63. The company has a market cap of $90.55 billion, a PE ratio of 22.78, a PEG ratio of 1.57 and a beta of 0.92.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.84 by $0.06. Intercontinental Exchange had a return on equity of 14.95% and a net margin of 30.08%.The firm had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $2.63 billion. During the same quarter last year, the firm earned $1.81 EPS. The business’s quarterly revenue was up 4.8% on a year-over-year basis. Analysts expect that Intercontinental Exchange Inc. will post 8.1 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Intercontinental Exchange news, SVP Douglas Foley sold 7,300 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $148.88, for a total value of $1,086,824.00. Following the completion of the sale, the senior vice president owned 19,063 shares of the company’s stock, valued at approximately $2,838,099.44. This trade represents a 27.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Mayur Kapani sold 4,271 shares of the business’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $151.20, for a total value of $645,775.20. Following the sale, the chief technology officer owned 67,988 shares in the company, valued at $10,279,785.60. The trade was a 5.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 20,200 shares of company stock valued at $3,035,385 in the last 90 days. 0.84% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ICE. Piper Sandler decreased their price objective on Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating for the company in a report on Wednesday, July 15th. TD Cowen reaffirmed a “buy” rating and issued a $177.00 price target (up from $159.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. Wall Street Zen raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Saturday. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $178.00 price objective on shares of Intercontinental Exchange in a research note on Friday, July 31st. Finally, Rothschild & Co Redburn set a $177.00 target price on Intercontinental Exchange in a research report on Thursday, June 11th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Intercontinental Exchange presently has a consensus rating of “Moderate Buy” and an average price target of $183.33.

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.