Summit Global Investments Acquires Shares of 9,961 Intercontinental Exchange Inc. $ICE

Summit Global Investments bought a new position in Intercontinental Exchange Inc. (NYSE:ICE) in the 2nd quarter, HoldingsChannel.com reports. The firm bought 9,961 shares of the financial services provider’s stock, valued at approximately $1,226,000.

A number of other large investors also recently made changes to their positions in ICE. Ares Financial Consulting LLC purchased a new position in Intercontinental Exchange during the fourth quarter worth about $25,000. Brooklands Fund Management Ltd bought a new position in shares of Intercontinental Exchange during the 4th quarter worth approximately $28,000. Swiss RE Ltd. purchased a new position in shares of Intercontinental Exchange in the 4th quarter worth approximately $28,000. Lloyd Advisory Services LLC. bought a new position in shares of Intercontinental Exchange in the fourth quarter valued at approximately $30,000. Finally, Kemnay Advisory Services Inc. purchased a new stake in shares of Intercontinental Exchange during the fourth quarter valued at approximately $37,000. 89.30% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $178.00 price objective on shares of Intercontinental Exchange in a research report on Friday, July 31st. Rothschild & Co Redburn set a $177.00 price target on shares of Intercontinental Exchange in a research report on Thursday, June 11th. Barclays restated an “overweight” rating and set a $182.00 price objective (up from $180.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. Piper Sandler reduced their target price on shares of Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating for the company in a research report on Wednesday, July 15th. Finally, Weiss Ratings lowered shares of Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Intercontinental Exchange presently has an average rating of “Moderate Buy” and a consensus target price of $183.33.

Insider Activity at Intercontinental Exchange

In related news, General Counsel Andrew J. Surdykowski sold 4,573 shares of the company’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 transaction of $693,083.88. Following the sale, the general counsel directly owned 45,473 shares in the company, valued at approximately $6,891,887.88. This represents a 9.14% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Douglas Foley sold 7,300 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $148.88, for a total transaction of $1,086,824.00. Following the completion of the transaction, the senior vice president directly owned 19,063 shares of the company’s stock, valued at approximately $2,838,099.44. This trade represents a 27.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 20,725 shares of company stock worth $3,115,124 in the last ninety days. Insiders own 0.84% of the company’s stock.

Intercontinental Exchange Trading Down 0.4%

Shares of ICE opened at $154.55 on Friday. Intercontinental Exchange Inc. has a fifty-two week low of $121.79 and a fifty-two week high of $182.86. The business has a 50-day moving average of $140.59 and a 200 day moving average of $152.26. The firm has a market cap of $86.76 billion, a P/E ratio of 21.83, a price-to-earnings-growth ratio of 1.53 and a beta of 0.92. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.90 EPS for the quarter, beating the consensus estimate of $1.84 by $0.06. The business had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $2.63 billion. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The company’s revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.81 earnings per share. As a group, research analysts forecast that Intercontinental Exchange Inc. will post 8.1 EPS for the current year.

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.