OP Asset Management Ltd Purchases New Position in Intercontinental Exchange Inc. $ICE

OP Asset Management Ltd purchased a new position in Intercontinental Exchange Inc. (NYSE:ICE) in the first quarter, HoldingsChannel reports. The fund purchased 58,195 shares of the financial services provider’s stock, valued at approximately $9,153,000.

Several other institutional investors and hedge funds have also bought and sold shares of ICE. Brighton Jones LLC grew its holdings in shares of Intercontinental Exchange by 51.3% during the 4th quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider’s stock worth $514,000 after acquiring an additional 1,169 shares during the period. Empowered Funds LLC lifted its stake in shares of Intercontinental Exchange by 9.0% in the 1st quarter. Empowered Funds LLC now owns 14,396 shares of the financial services provider’s stock valued at $2,483,000 after purchasing an additional 1,189 shares during the period. Sivia Capital Partners LLC lifted its stake in shares of Intercontinental Exchange by 16.2% in the 2nd quarter. Sivia Capital Partners LLC now owns 2,078 shares of the financial services provider’s stock valued at $381,000 after purchasing an additional 289 shares during the period. NewEdge Advisors LLC boosted its position in shares of Intercontinental Exchange by 27.9% during the second quarter. NewEdge Advisors LLC now owns 21,213 shares of the financial services provider’s stock valued at $3,892,000 after purchasing an additional 4,628 shares in the last quarter. Finally, Treasurer of the State of North Carolina boosted its position in shares of Intercontinental Exchange by 2.4% during the second quarter. Treasurer of the State of North Carolina now owns 266,496 shares of the financial services provider’s stock valued at $48,894,000 after purchasing an additional 6,373 shares in the last quarter. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Intercontinental Exchange Trading Down 4.2%

NYSE ICE opened at $124.50 on Friday. Intercontinental Exchange Inc. has a 12 month low of $124.33 and a 12 month high of $189.35. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63. The stock’s fifty day moving average price is $148.74 and its 200-day moving average price is $157.84. The stock has a market cap of $70.40 billion, a P/E ratio of 18.12, a P/E/G ratio of 1.22 and a beta of 0.92.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.23 by $0.12. The firm had revenue of $3.67 billion during the quarter, compared to analyst estimates of $2.88 billion. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.Intercontinental Exchange’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.72 EPS. As a group, equities analysts forecast that Intercontinental Exchange Inc. will post 8.37 EPS for the current fiscal year.

Insider Buying and Selling at Intercontinental Exchange

In other news, General Counsel Andrew J. Surdykowski sold 4,573 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $151.56, for a total transaction of $693,083.88. Following the sale, the general counsel owned 45,473 shares in the company, valued at $6,891,887.88. This represents a 9.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Warren Gardiner sold 2,490 shares of the firm’s stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $156.64, for a total transaction of $390,033.60. Following the sale, the chief financial officer directly owned 25,189 shares of the company’s stock, valued at $3,945,604.96. This trade represents a 9.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 13,425 shares of company stock worth $2,046,324 in the last 90 days. Insiders own 0.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on ICE shares. Deutsche Bank Aktiengesellschaft upgraded Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 price objective for the company in a report on Friday, March 6th. TD Cowen decreased their price target on shares of Intercontinental Exchange from $193.00 to $153.00 and set a “buy” rating for the company in a research note on Monday. Piper Sandler reissued an “overweight” rating and set a $211.00 price target (up from $195.00) on shares of Intercontinental Exchange in a research report on Wednesday, April 15th. UBS Group reissued a “buy” rating and set a $205.00 price objective on shares of Intercontinental Exchange in a research note on Wednesday, May 20th. Finally, Morgan Stanley upped their price objective on shares of Intercontinental Exchange from $183.00 to $187.00 and gave the stock an “equal weight” rating in a report on Friday, April 10th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $189.36.

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.