Sivia Capital Partners LLC Invests $664,000 in Intercontinental Exchange Inc. $ICE

Sivia Capital Partners LLC bought a new position in Intercontinental Exchange Inc. (NYSE:ICE) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 5,390 shares of the financial services provider’s stock, valued at approximately $664,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. grew 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 valued at $31,041,000 after purchasing an additional 10,742 shares in the last quarter. USS Investment Management Ltd raised its stake in Intercontinental Exchange by 37.2% during the first quarter. USS Investment Management Ltd now owns 946,920 shares of the financial services provider’s stock valued at $148,960,000 after purchasing an additional 256,851 shares in the last quarter. Walter Public Investments Inc. raised its stake in 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 valued at $20,244,000 after purchasing an additional 15,129 shares in the last quarter. Vanguard Group Inc. lifted its position in Intercontinental Exchange by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 54,153,170 shares of the financial services provider’s stock valued at $8,770,647,000 after purchasing an additional 413,639 shares during the last quarter. Finally, Nicholas Company Inc. lifted its position in Intercontinental Exchange by 10.1% during the fourth quarter. Nicholas Company Inc. now owns 437,155 shares of the financial services provider’s stock valued at $70,802,000 after purchasing an additional 40,240 shares during the last quarter. 89.30% of the stock is owned by institutional investors.

Analyst Ratings Changes

ICE has been the topic of a number of research reports. Piper Sandler reduced their target price on shares of Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating on the stock in a report on Wednesday, July 15th. Wall Street Zen downgraded shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. Raymond James Financial set a $208.00 price target on Intercontinental Exchange in a research report on Monday, July 6th. Rothschild & Co Redburn set a $177.00 price objective on Intercontinental Exchange in a research note on Thursday, June 11th. Finally, The Goldman Sachs Group decreased their price objective on Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating on the stock in a research report on Tuesday, June 30th. 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $183.33.

Intercontinental Exchange Trading Up 2.7%

ICE stock opened at $155.34 on Friday. Intercontinental Exchange Inc. has a twelve month low of $121.79 and a twelve month high of $183.13. The stock has a market capitalization of $87.21 billion, a price-to-earnings ratio of 21.94, a price-to-earnings-growth ratio of 1.49 and a beta of 0.92. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63. The firm’s fifty day simple moving average is $140.32 and its two-hundred day simple moving average is $152.25.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, July 30th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.06. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The firm had revenue of $3.61 billion during the quarter, compared to analyst estimates of $2.63 billion. During the same quarter last year, the business earned $1.81 EPS. The business’s revenue was up 4.8% on a year-over-year basis. As a group, analysts anticipate that Intercontinental Exchange Inc. will post 8.08 earnings per share for the current year.

Insider Buying and Selling

In other Intercontinental Exchange news, CFO Warren Gardiner sold 2,490 shares of the firm’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $156.64, for a total value of $390,033.60. Following the completion of the sale, the chief financial officer owned 25,189 shares of the company’s stock, valued at $3,945,604.96. This trade represents a 9.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William Jefferson Hague sold 1,333 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $139.46, for a total value of $185,900.18. Following the transaction, the director owned 20,132 shares of the company’s stock, valued at $2,807,608.72. This trade represents a 6.21% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 16,454 shares of company stock worth $2,469,349 over the last three months. 0.84% of the stock is currently owned by company insiders.

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.