Federated Hermes Inc. Grows Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Federated Hermes Inc. raised its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 6.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 208,078 shares of the financial services provider’s stock after acquiring an additional 12,526 shares during the quarter. Federated Hermes Inc.’s holdings in Intercontinental Exchange were worth $28,484,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ICE. Vanguard Group Inc. raised its position in shares of Intercontinental Exchange by 7.5% during the 1st quarter. Vanguard Group Inc. now owns 50,776,525 shares of the financial services provider’s stock worth $6,978,218,000 after purchasing an additional 3,536,913 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Intercontinental Exchange by 35.0% during the fourth quarter. Wellington Management Group LLP now owns 16,397,991 shares of the financial services provider’s stock valued at $2,105,994,000 after acquiring an additional 4,251,371 shares during the last quarter. Capital World Investors increased its position in Intercontinental Exchange by 35.6% during the 4th quarter. Capital World Investors now owns 9,643,762 shares of the financial services provider’s stock worth $1,238,559,000 after purchasing an additional 2,530,119 shares in the last quarter. Parnassus Investments LLC raised its stake in Intercontinental Exchange by 23.8% in the 4th quarter. Parnassus Investments LLC now owns 8,429,851 shares of the financial services provider’s stock valued at $1,082,646,000 after purchasing an additional 1,621,737 shares during the last quarter. Finally, Norges Bank acquired a new position in Intercontinental Exchange in the 4th quarter valued at about $839,259,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 1,898 shares of the company’s stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $136.66, for a total value of $259,380.68. Following the completion of the transaction, the general counsel now owns 46,815 shares in the company, valued at approximately $6,397,737.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 1,898 shares of the company’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $136.66, for a total value of $259,380.68. Following the completion of the transaction, the general counsel now directly owns 46,815 shares of the company’s stock, valued at approximately $6,397,737.90. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Jeffrey C. Sprecher sold 58,389 shares of Intercontinental Exchange stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $141.68, for a total value of $8,272,553.52. Following the sale, the chief executive officer now directly owns 1,179,993 shares in the company, valued at $167,181,408.24. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 67,096 shares of company stock worth $9,593,983. 1.10% of the stock is currently owned by company insiders.

Intercontinental Exchange Price Performance

Intercontinental Exchange stock opened at $161.36 on Friday. The firm has a fifty day moving average of $154.20 and a 200-day moving average of $142.00. Intercontinental Exchange, Inc. has a 52-week low of $104.49 and a 52-week high of $163.71. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $92.55 billion, a P/E ratio of 37.01, a PEG ratio of 2.81 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, August 1st. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.03. The firm had revenue of $2.32 billion during the quarter, compared to the consensus estimate of $2.31 billion. Intercontinental Exchange had a return on equity of 12.70% and a net margin of 21.43%. The firm’s quarterly revenue was up 22.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.43 EPS. As a group, analysts predict that Intercontinental Exchange, Inc. will post 6.04 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently commented on ICE. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Intercontinental Exchange from $152.00 to $154.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. 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. StockNews.com cut Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Friday, September 6th. Barclays upped their target price on Intercontinental Exchange from $159.00 to $167.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Finally, The Goldman Sachs Group raised Intercontinental Exchange from a “neutral” rating to a “buy” rating and raised their price target for the stock from $143.00 to $167.00 in a research note on Monday, July 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Intercontinental Exchange currently has an average rating of “Moderate Buy” and an average target price of $154.93.

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.