Kelly Lawrence W & Associates Inc. CA Takes $10.93 Million Position in Intercontinental Exchange Inc. $ICE

Kelly Lawrence W & Associates Inc. CA bought a new position in Intercontinental Exchange Inc. (NYSE:ICE) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 88,773 shares of the financial services provider’s stock, valued at approximately $10,929,000. Intercontinental Exchange makes up 2.3% of Kelly Lawrence W & Associates Inc. CA’s portfolio, making the stock its 17th biggest holding.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ares Financial Consulting LLC bought a new position in Intercontinental Exchange in the 4th quarter valued at $25,000. Rakuten Securities Inc. bought a new stake in shares of Intercontinental Exchange during the second quarter worth $26,000. Brooklands Fund Management Ltd acquired a new stake in shares of Intercontinental Exchange in the fourth quarter valued at $28,000. Swiss RE Ltd. acquired a new stake in shares of Intercontinental Exchange in the fourth quarter valued at $28,000. Finally, Lloyd Advisory Services LLC. bought a new position in shares of Intercontinental Exchange in the fourth quarter valued at about $30,000. 89.30% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ICE has been the topic of several research reports. Piper Sandler reduced their price target on shares of Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 15th. Barclays restated an “overweight” rating and issued a $182.00 price objective (up from $180.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $178.00 target price 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 research note on Saturday. Finally, Rothschild & Co Redburn set a $177.00 price target on shares of Intercontinental Exchange in a report on Thursday, June 11th. One investment 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. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $183.33.

Intercontinental Exchange Price Performance

Intercontinental Exchange stock opened at $162.89 on Tuesday. The business’s 50-day simple moving average is $142.80 and its 200 day simple moving average is $151.54. 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 stock has a market cap of $91.45 billion, a price-to-earnings ratio of 23.01, a P/E/G ratio of 1.57 and a beta of 0.92. Intercontinental Exchange Inc. has a 12-month low of $121.79 and a 12-month high of $181.65.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.90 earnings per share for the quarter, topping the consensus estimate 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 period in the previous year, the business posted $1.81 EPS. The company’s quarterly revenue was up 4.8% compared to the same quarter last year. As a group, research analysts anticipate that Intercontinental Exchange Inc. will post 8.1 earnings per share for the current year.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, CTO Mayur Kapani sold 4,271 shares of the firm’s stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $151.20, for a total value of $645,775.20. Following the transaction, the chief technology officer directly owned 67,988 shares of the company’s stock, valued at approximately $10,279,785.60. This trade represents a 5.91% 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, SVP Douglas Foley sold 1,600 shares of the company’s stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $160.00, for a total transaction of $256,000.00. Following the sale, the senior vice president owned 17,463 shares of the company’s stock, valued at $2,794,080. The trade was a 8.39% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 17,227 shares of company stock worth $2,598,301 in the last 90 days. Corporate insiders own 0.84% of the company’s stock.

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.