20,679 Shares in Intercontinental Exchange Inc. $ICE Bought by Polar Asset Management Partners Inc.

Polar Asset Management Partners Inc. bought a new stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) in the 1st quarter, Holdings Channel reports. The institutional investor bought 20,679 shares of the financial services provider’s stock, valued at approximately $3,252,000.

Several other hedge funds have also bought and sold shares of ICE. SummitTX Capital L.P. boosted its holdings in shares of Intercontinental Exchange by 388.7% during the 1st quarter. SummitTX Capital L.P. now owns 23,725 shares of the financial services provider’s stock valued at $3,731,000 after purchasing an additional 18,870 shares during the last quarter. Family Manage LLC bought a new stake in shares of Intercontinental Exchange in the first quarter worth about $3,333,000. Gateway Wealth Partners LLC purchased a new stake in shares of Intercontinental Exchange in the first quarter worth about $279,000. Blue Chip Partners LLC lifted its position in shares of Intercontinental Exchange by 5.3% in the first quarter. Blue Chip Partners LLC now owns 151,049 shares of the financial services provider’s stock worth $23,757,000 after buying an additional 7,585 shares in the last quarter. Finally, Delta Global Management LP boosted its stake in Intercontinental Exchange by 48.1% during the first quarter. Delta Global Management LP now owns 325,500 shares of the financial services provider’s stock valued at $51,195,000 after buying an additional 105,661 shares during the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Insider Activity

In other Intercontinental Exchange news, Director Sharon Bowen sold 667 shares of the firm’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 transaction, the director directly owned 15,077 shares in the company, valued at $2,280,848.56. This trade represents a 4.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO Mayur Kapani sold 4,271 shares of Intercontinental Exchange stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $155.42, for a total value of $663,798.82. Following the sale, the chief technology officer directly owned 64,869 shares of the company’s stock, valued at approximately $10,081,939.98. This trade represents a 6.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 13,425 shares of company stock valued at $2,046,324. Insiders own 0.84% of the company’s stock.

Intercontinental Exchange Trading Up 1.8%

ICE stock opened at $148.48 on Tuesday. Intercontinental Exchange Inc. has a 12 month low of $121.79 and a 12 month high of $189.35. The firm’s 50-day moving average is $139.35 and its 200 day moving average is $153.88. The company has a market capitalization of $83.97 billion, a PE ratio of 21.61, a P/E/G ratio of 1.51 and a beta of 0.94. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, April 30th. The financial services provider reported $2.35 earnings per share (EPS) 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 analysts’ expectations of $2.88 billion. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The firm’s quarterly revenue was up 20.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.72 EPS. On average, research analysts anticipate that Intercontinental Exchange Inc. will post 8.01 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently issued reports on ICE shares. Weiss Ratings cut Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, June 17th. UBS Group lowered their price objective on Intercontinental Exchange from $205.00 to $190.00 and set a “buy” rating for the company in a research note on Tuesday, July 7th. Piper Sandler lowered their target price on shares of Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating for the company in a report on Wednesday, July 15th. Morgan Stanley cut their price target on shares of Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating on the stock in a report on Friday, July 10th. Finally, Barclays decreased their price objective on shares of Intercontinental Exchange from $201.00 to $180.00 and set an “overweight” rating for the company in a research note on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, Intercontinental Exchange has an average rating of “Moderate Buy” and a consensus target price of $181.58.

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.