J. Stern & Co. LLP Takes Position in Intercontinental Exchange, Inc. (NYSE:ICE)

J. Stern & Co. LLP acquired a new position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) in the third quarter, HoldingsChannel reports. The fund acquired 12,300 shares of the financial services provider’s stock, valued at approximately $1,976,000. Intercontinental Exchange accounts for 0.2% of J. Stern & Co. LLP’s holdings, making the stock its 26th biggest holding.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Wolff Wiese Magana LLC boosted its holdings in Intercontinental Exchange by 1,470.0% during the third quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock worth $25,000 after buying an additional 147 shares during the last quarter. Northwest Investment Counselors LLC bought a new position in Intercontinental Exchange during the 3rd quarter worth approximately $26,000. Financial Management Professionals Inc. grew its holdings in Intercontinental Exchange by 106.1% during the third quarter. Financial Management Professionals Inc. now owns 169 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 87 shares during the period. Fairscale Capital LLC bought a new stake in Intercontinental Exchange in the second quarter valued at approximately $25,000. Finally, Capital Performance Advisors LLP bought a new stake in Intercontinental Exchange in the third quarter valued at approximately $29,000. Institutional investors own 89.30% of the company’s stock.

Insiders Place Their Bets

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the company’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $159.57, for a total transaction of $326,799.36. Following the sale, the general counsel now directly owns 44,865 shares of the company’s stock, valued at approximately $7,159,108.05. This represents a 4.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Stuart Glen Williams sold 468 shares of the business’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $162.81, for a total transaction of $76,195.08. Following the transaction, the chief operating officer now owns 13,530 shares in the company, valued at $2,202,819.30. This represents a 3.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,868 shares of company stock valued at $622,079 in the last 90 days. 1.10% of the stock is currently owned by insiders.

Intercontinental Exchange Stock Down 0.3 %

ICE stock traded down $0.47 during midday trading on Tuesday, hitting $159.16. The company’s stock had a trading volume of 73,175 shares, compared to its average volume of 2,562,637. The company’s fifty day moving average price is $160.59 and its 200 day moving average price is $151.34. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.00 and a quick ratio of 1.00. Intercontinental Exchange, Inc. has a twelve month low of $111.82 and a twelve month high of $167.99. The stock has a market capitalization of $91.39 billion, a P/E ratio of 37.82, a PEG ratio of 2.63 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.55. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The business had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter in the previous year, the business earned $1.46 earnings per share. Intercontinental Exchange’s quarterly revenue was up 17.3% on a year-over-year basis. As a group, equities research analysts predict that Intercontinental Exchange, Inc. will post 6.07 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on ICE shares. Piper Sandler boosted their price target on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. JPMorgan Chase & Co. boosted their target price on Intercontinental Exchange from $171.00 to $188.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft raised their price target on Intercontinental Exchange from $160.00 to $163.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Bank of America boosted their price objective on Intercontinental Exchange from $168.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and set a $168.00 target price on shares of Intercontinental Exchange in a report on Tuesday, August 6th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Intercontinental Exchange presently has a consensus rating of “Moderate Buy” and an average price target of $174.13.

Intercontinental Exchange Profile

Intercontinental Exchange, Inc, together with its subsidiaries, engages in the provision of market infrastructure, data services, and technology solutions for financial institutions, corporations, and government entities in the United States, the United Kingdom, the European Union, Singapore, India, Abu Dhabi, Israel, and Canada.