Cascade Investment Advisors Inc. Grows Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Cascade Investment Advisors Inc. increased its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 0.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 13,672 shares of the financial services provider’s stock after purchasing an additional 110 shares during the period. Intercontinental Exchange makes up approximately 1.3% of Cascade Investment Advisors Inc.’s investment portfolio, making the stock its 21st largest position. Cascade Investment Advisors Inc.’s holdings in Intercontinental Exchange were worth $2,037,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. James Hambro & Partners LLP grew its stake in shares of Intercontinental Exchange by 4.5% in the fourth quarter. James Hambro & Partners LLP now owns 758,037 shares of the financial services provider’s stock valued at $112,963,000 after buying an additional 32,962 shares in the last quarter. Webster Bank N. A. boosted its holdings in Intercontinental Exchange by 21.4% during the 4th quarter. Webster Bank N. A. now owns 21,157 shares of the financial services provider’s stock valued at $3,153,000 after acquiring an additional 3,735 shares during the period. KBC Group NV grew its position in Intercontinental Exchange by 8.1% in the 4th quarter. KBC Group NV now owns 213,245 shares of the financial services provider’s stock valued at $31,775,000 after acquiring an additional 15,896 shares in the last quarter. Capital Asset Advisory Services LLC increased its stake in Intercontinental Exchange by 9.2% during the fourth quarter. Capital Asset Advisory Services LLC now owns 2,616 shares of the financial services provider’s stock worth $392,000 after purchasing an additional 220 shares during the period. Finally, Blue Trust Inc. lifted its position in shares of Intercontinental Exchange by 114.1% during the fourth quarter. Blue Trust Inc. now owns 12,857 shares of the financial services provider’s stock worth $2,065,000 after purchasing an additional 6,853 shares in the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on ICE. Barclays lowered their price objective on shares of Intercontinental Exchange from $187.00 to $179.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. Piper Sandler raised their price target on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Keefe, Bruyette & Woods cut their price objective on Intercontinental Exchange from $183.00 to $178.00 and set an “outperform” rating on the stock in a research report on Monday, January 13th. Raymond James cut Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 target price for the company. in a research note on Monday, October 14th. Finally, JPMorgan Chase & Co. decreased their price objective on Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Intercontinental Exchange currently has a consensus rating of “Moderate Buy” and a consensus target price of $175.27.

Insider Activity

In other Intercontinental Exchange news, CTO Mayur Kapani sold 5,661 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $147.59, for a total transaction of $835,506.99. Following the transaction, the chief technology officer now owns 66,548 shares in the company, valued at approximately $9,821,819.32. The trade was a 7.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President Benjamin Jackson sold 5,828 shares of Intercontinental Exchange stock in a transaction that occurred 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 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 disclosure for this sale can be found here. Over the last three months, insiders sold 13,795 shares of company stock valued at $2,120,572. Insiders own 1.10% of the company’s stock.

Intercontinental Exchange Stock Performance

NYSE ICE opened at $160.82 on Tuesday. The company has a fifty day moving average of $152.98 and a two-hundred day moving average of $156.15. 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 1 year low of $124.34 and a 1 year high of $167.99. The company has a market capitalization of $92.34 billion, a PE ratio of 38.11, a P/E/G ratio of 2.95 and a beta of 1.10.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, October 31st. The financial services provider reported $1.55 EPS for the quarter, hitting the consensus estimate of $1.55. The company had revenue of $2.35 billion for the quarter, compared to analyst estimates 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 was up 17.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.46 earnings per share. As a group, analysts expect that Intercontinental Exchange, Inc. will post 6.05 earnings per share for the current year.

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.