Strategic Advisors LLC Boosts Holdings in Intercontinental Exchange Inc. $ICE

Strategic Advisors LLC increased its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 459.6% in the third quarter, Holdings Channel.com reports. The fund owned 7,650 shares of the financial services provider’s stock after purchasing an additional 6,283 shares during the period. Strategic Advisors LLC’s holdings in Intercontinental Exchange were worth $1,289,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Princeton Global Asset Management LLC purchased a new stake in shares of Intercontinental Exchange in the second quarter worth about $28,000. Westside Investment Management Inc. bought a new stake in Intercontinental Exchange in the 2nd quarter worth approximately $29,000. Hilltop National Bank purchased a new stake in shares of Intercontinental Exchange during the 2nd quarter worth approximately $31,000. Knuff & Co LLC boosted its position in shares of Intercontinental Exchange by 73.3% during the 2nd quarter. Knuff & Co LLC now owns 175 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 74 shares during the last quarter. Finally, Private Wealth Management Group LLC grew its holdings in shares of Intercontinental Exchange by 59.5% in the third quarter. Private Wealth Management Group LLC now owns 177 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 66 shares in the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Insider Buying and Selling

In other news, Director Judith A. Sprieser sold 3,700 shares of Intercontinental Exchange stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $157.96, for a total transaction of $584,452.00. Following the completion of the sale, the director owned 14,469 shares of the company’s stock, valued at approximately $2,285,523.24. The trade was a 20.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $153.08, for a total value of $22,962,000.00. Following the completion of the transaction, the chief executive officer directly owned 1,801,705 shares in the company, valued at approximately $275,805,001.40. This trade represents a 7.69% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 166,068 shares of company stock worth $25,470,702 over the last ninety days. 1.00% of the stock is owned by insiders.

Intercontinental Exchange Trading Down 0.5%

Shares of NYSE ICE opened at $172.40 on Thursday. The business’s 50 day moving average price is $163.18 and its 200-day moving average price is $166.98. Intercontinental Exchange Inc. has a fifty-two week low of $143.17 and a fifty-two week high of $189.35. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market cap of $98.30 billion, a price-to-earnings ratio of 31.40, a PEG ratio of 2.14 and a beta of 1.03.

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

Analyst Ratings Changes

ICE has been the subject of several research reports. JPMorgan Chase & Co. lowered their price objective on shares of Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating for the company in a research report on Friday, October 31st. Keefe, Bruyette & Woods upgraded Intercontinental Exchange to a “moderate buy” rating in a research report on Monday, October 6th. Raymond James Financial restated a “strong-buy” rating and set a $211.00 price objective on shares of Intercontinental Exchange in a research report on Tuesday, January 6th. TD Cowen reiterated a “buy” rating on shares of Intercontinental Exchange in a report on Wednesday, January 14th. Finally, Piper Sandler restated an “overweight” rating and set a $195.00 price target (down previously from $202.00) on shares of Intercontinental Exchange in a report on Wednesday, January 14th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $193.50.

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.