Park Avenue Securities LLC Acquires 5,113 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Park Avenue Securities LLC grew its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 21.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 29,271 shares of the financial services provider’s stock after acquiring an additional 5,113 shares during the quarter. Park Avenue Securities LLC’s holdings in Intercontinental Exchange were worth $4,362,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in ICE. Fairscale Capital LLC acquired a new position in Intercontinental Exchange during the 2nd quarter worth approximately $25,000. Wolff Wiese Magana LLC grew its stake in shares of 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 acquired a new position in shares of Intercontinental Exchange during the third quarter worth $26,000. Financial Management Professionals Inc. increased its holdings in shares of Intercontinental Exchange by 106.1% during the third quarter. Financial Management Professionals Inc. now owns 169 shares of the financial services provider’s stock worth $27,000 after buying an additional 87 shares in the last quarter. Finally, Capital Performance Advisors LLP bought a new position in shares of Intercontinental Exchange in the 3rd quarter valued at $29,000. Institutional investors own 89.30% of the company’s stock.

Wall Street Analysts Forecast Growth

ICE has been the topic of a number of research reports. Royal Bank of Canada restated an “outperform” rating and set a $200.00 price objective on shares of Intercontinental Exchange in a research report on Tuesday, January 7th. Barclays reduced their price target on Intercontinental Exchange from $187.00 to $179.00 and set an “overweight” rating on the stock in a report on Monday. Morgan Stanley lifted their target price on shares of Intercontinental Exchange from $160.00 to $174.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. The Goldman Sachs Group boosted their target price on shares of Intercontinental Exchange from $171.00 to $185.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Finally, Piper Sandler lifted their price target on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Intercontinental Exchange currently has a consensus rating of “Moderate Buy” and a consensus target price of $175.20.

Intercontinental Exchange Stock Performance

ICE stock opened at $150.11 on Friday. The firm has a market cap of $86.19 billion, a PE ratio of 35.57, a price-to-earnings-growth ratio of 2.29 and a beta of 1.10. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.68. The stock has a 50-day moving average price of $153.47 and a 200-day moving average price of $155.48. Intercontinental Exchange, Inc. has a 1-year low of $124.34 and a 1-year high of $167.99.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.55. The business had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.35 billion. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The firm’s revenue for the quarter was up 17.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.46 earnings per share. As a group, equities research analysts expect that Intercontinental Exchange, Inc. will post 6.06 earnings per share for the current year.

Insider Activity

In other Intercontinental Exchange news, President Benjamin Jackson sold 5,828 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $160.00, for a total value of $932,480.00. Following the completion of the sale, the president now directly owns 156,163 shares in the company, valued at approximately $24,986,080. This trade represents a 3.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Stuart Glen Williams sold 750 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $152.99, for a total transaction of $114,742.50. Following the transaction, the chief operating officer now owns 12,780 shares in the company, valued at $1,955,212.20. This represents a 5.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,533 shares of company stock worth $1,196,279 in the last quarter. 1.10% of the stock is owned by corporate insiders.

About Intercontinental Exchange

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.