Strengthening Families & Communities LLC Boosts Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

Strengthening Families & Communities LLC grew its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 7.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,419 shares of the financial services provider’s stock after purchasing an additional 388 shares during the period. Strengthening Families & Communities LLC’s holdings in Intercontinental Exchange were worth $871,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Legal & General Group Plc grew its position in shares of Intercontinental Exchange by 4.5% during the 2nd quarter. Legal & General Group Plc now owns 4,453,286 shares of the financial services provider’s stock valued at $609,609,000 after acquiring an additional 191,763 shares during the period. Clearbridge Investments LLC lifted its stake in Intercontinental Exchange by 10.4% in the 2nd quarter. Clearbridge Investments LLC now owns 3,019,195 shares of the financial services provider’s stock worth $413,298,000 after purchasing an additional 284,664 shares in the last quarter. Bessemer Group Inc. lifted its stake in Intercontinental Exchange by 0.7% in the 1st quarter. Bessemer Group Inc. now owns 2,795,043 shares of the financial services provider’s stock worth $384,122,000 after purchasing an additional 19,127 shares in the last quarter. Raymond James & Associates raised its position in shares of Intercontinental Exchange by 11.1% during the 3rd quarter. Raymond James & Associates now owns 2,535,785 shares of the financial services provider’s stock valued at $407,348,000 after buying an additional 253,324 shares during the period. Finally, AGF Management Ltd. raised its position in shares of Intercontinental Exchange by 11.0% during the 2nd quarter. AGF Management Ltd. now owns 2,208,036 shares of the financial services provider’s stock valued at $302,258,000 after buying an additional 218,516 shares during the period. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on ICE shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 price objective on shares of Intercontinental Exchange in a research report on Friday, November 1st. Piper Sandler raised their price objective 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. Raymond James cut shares of Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 target price for the company. in a report on Monday, October 14th. 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 note on Thursday, October 17th. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $168.00 price target on shares of Intercontinental Exchange in a report on Tuesday, August 6th. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $174.13.

Intercontinental Exchange Stock Down 0.6 %

Shares of Intercontinental Exchange stock opened at $155.55 on Monday. Intercontinental Exchange, Inc. has a one year low of $110.64 and a one year high of $167.99. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.00 and a quick ratio of 1.00. The stock’s 50-day moving average is $160.97 and its 200 day moving average is $150.22. The firm has a market cap of $89.31 billion, a price-to-earnings ratio of 36.86, a PEG ratio of 2.57 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, October 31st. The financial services provider reported $1.55 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 company had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same period last year, the business posted $1.46 earnings per share. Intercontinental Exchange’s revenue was up 17.3% on a year-over-year basis. Equities research analysts anticipate that Intercontinental Exchange, Inc. will post 6.07 EPS for the current year.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 2,048 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, September 26th. The stock was 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. The trade was a 4.37 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO James W. Namkung sold 1,171 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $160.00, for a total transaction of $187,360.00. Following the completion of the transaction, the chief accounting officer now owns 16,665 shares of the company’s stock, valued at approximately $2,666,400. The trade was a 6.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,489 shares of company stock valued at $1,202,259. Company insiders own 1.10% of the company’s stock.

Intercontinental Exchange Company 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.