Mattern Capital Management LLC Purchases 285 Shares of Intercontinental Exchange Inc. $ICE

Mattern Capital Management LLC grew its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 0.5% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 54,858 shares of the financial services provider’s stock after purchasing an additional 285 shares during the quarter. Intercontinental Exchange comprises approximately 1.2% of Mattern Capital Management LLC’s investment portfolio, making the stock its 27th largest position. Mattern Capital Management LLC’s holdings in Intercontinental Exchange were worth $10,065,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in ICE. Tritonpoint Wealth LLC increased its stake in shares of Intercontinental Exchange by 1.4% in the 2nd quarter. Tritonpoint Wealth LLC now owns 4,347 shares of the financial services provider’s stock valued at $798,000 after acquiring an additional 58 shares in the last quarter. RB Capital Management LLC increased its stake in shares of Intercontinental Exchange by 1.3% in the 2nd quarter. RB Capital Management LLC now owns 4,584 shares of the financial services provider’s stock valued at $841,000 after acquiring an additional 59 shares in the last quarter. Chemistry Wealth Management LLC increased its stake in shares of Intercontinental Exchange by 0.8% in the 2nd quarter. Chemistry Wealth Management LLC now owns 7,847 shares of the financial services provider’s stock valued at $1,440,000 after acquiring an additional 60 shares in the last quarter. Institute for Wealth Management LLC. increased its stake in shares of Intercontinental Exchange by 1.9% in the 2nd quarter. Institute for Wealth Management LLC. now owns 3,255 shares of the financial services provider’s stock valued at $597,000 after acquiring an additional 60 shares in the last quarter. Finally, Fielder Capital Group LLC increased its stake in shares of Intercontinental Exchange by 2.2% in the 1st quarter. Fielder Capital Group LLC now owns 2,808 shares of the financial services provider’s stock valued at $484,000 after acquiring an additional 61 shares in the last quarter. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Down 1.1%

Shares of NYSE ICE opened at $160.85 on Friday. The stock has a market capitalization of $92.07 billion, a P/E ratio of 30.87, a P/E/G ratio of 1.95 and a beta of 1.08. The company has a 50-day moving average price of $176.97 and a 200-day moving average price of $174.74. Intercontinental Exchange Inc. has a 1 year low of $142.29 and a 1 year high of $189.35. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, July 31st. The financial services provider reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.77 by $0.04. The firm had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $2.50 billion. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The business’s revenue was up 9.8% on a year-over-year basis. During the same period last year, the company earned $1.52 earnings per share. On average, equities research analysts forecast that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on ICE shares. JPMorgan Chase & Co. lifted their price objective on shares of Intercontinental Exchange from $195.00 to $203.00 and gave the company an “overweight” rating in a research note on Thursday, September 25th. UBS Group lifted their price objective on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the company a “buy” rating in a research note on Tuesday, July 8th. Piper Sandler lifted their price objective on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the company an “overweight” rating in a research note on Tuesday, July 15th. Barclays boosted their price target on shares of Intercontinental Exchange from $206.00 to $212.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. Finally, Morgan Stanley lowered their price objective on shares of Intercontinental Exchange from $192.00 to $188.00 and set an “equal weight” rating on the stock in a report on Wednesday. Eight equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $198.20.

Insider Activity

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 3,850 shares of Intercontinental Exchange stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $178.33, for a total transaction of $686,570.50. Following the transaction, the general counsel directly owned 46,293 shares of the company’s stock, valued at $8,255,430.69. The trade was a 7.68% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Judith A. Sprieser sold 2,900 shares of Intercontinental Exchange stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $174.51, for a total transaction of $506,079.00. Following the transaction, the director directly owned 18,169 shares in the company, valued at $3,170,672.19. This represents a 13.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 230,874 shares of company stock worth $42,187,714. Company insiders own 1.00% of the company’s stock.

About Intercontinental Exchange

Intercontinental Exchange, Inc, together with its subsidiaries, engages in the provision of market infrastructure, data services, and technology solutions for financial institutions, corporations, and government entities in the United States, the United Kingdom, the European Union, Singapore, India, Abu Dhabi, Israel, and Canada.