Intercontinental Exchange Inc. $ICE Shares Purchased by Schwartz Investment Counsel Inc.

Schwartz Investment Counsel Inc. raised its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 10.2% during the first quarter, Holdings Channel reports. The institutional investor owned 104,700 shares of the financial services provider’s stock after buying an additional 9,700 shares during the period. Schwartz Investment Counsel Inc.’s holdings in Intercontinental Exchange were worth $16,467,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

ICE has been the subject of several research reports. Keefe, Bruyette & Woods assumed coverage on Intercontinental Exchange in a report on Wednesday, April 8th. They issued an “outperform” rating and a $190.00 target price for the company. UBS Group cut their price target on Intercontinental Exchange from $205.00 to $190.00 and set a “buy” rating on the stock in a research report on Tuesday, July 7th. Piper Sandler reiterated an “overweight” rating and issued a $211.00 price objective (up from $195.00) on shares of Intercontinental Exchange in a research note on Wednesday, April 15th. Rothschild & Co Redburn set a $177.00 price objective on Intercontinental Exchange in a report on Thursday, June 11th. Finally, Barclays lowered their target price on shares of Intercontinental Exchange from $201.00 to $180.00 and set an “overweight” rating on the stock in a research report on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $183.33.

Intercontinental Exchange Stock Performance

Shares of ICE stock opened at $137.75 on Tuesday. Intercontinental Exchange Inc. has a 12-month low of $121.79 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 has a 50 day simple moving average of $142.08 and a 200-day simple moving average of $155.38. The company has a market cap of $77.90 billion, a price-to-earnings ratio of 20.05, a price-to-earnings-growth ratio of 1.36 and a beta of 0.94.

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, beating analysts’ consensus estimates of $2.23 by $0.12. The company had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $2.88 billion. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The company’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same period last year, the firm earned $1.72 EPS. On average, equities analysts forecast that Intercontinental Exchange Inc. will post 8.13 EPS for the current year.

Insider Transactions at Intercontinental Exchange

In other news, General Counsel Andrew J. Surdykowski sold 4,573 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $151.56, for a total value of $693,083.88. Following the completion of the transaction, the general counsel owned 45,473 shares of the company’s stock, valued at $6,891,887.88. The trade was a 9.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at 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 stock was sold at an average price of $156.64, for a total transaction of $390,033.60. Following the sale, the chief financial officer owned 25,189 shares in the company, valued at approximately $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 have sold a total of 13,425 shares of company stock worth $2,046,324 in the last ninety days. Company insiders own 0.84% of the company’s stock.

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.