Blue Trust Inc. Raises Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

Blue Trust Inc. raised its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 15.9% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,004 shares of the financial services provider’s stock after buying an additional 824 shares during the quarter. Blue Trust Inc.’s holdings in Intercontinental Exchange were worth $964,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Intercontinental Exchange by 7.5% in the first quarter. Vanguard Group Inc. now owns 50,776,525 shares of the financial services provider’s stock valued at $6,978,218,000 after acquiring an additional 3,536,913 shares during the period. CCLA Investment Management boosted its holdings in Intercontinental Exchange by 91,838.2% in the 1st quarter. CCLA Investment Management now owns 1,114,291 shares of the financial services provider’s stock valued at $152,923,000 after purchasing an additional 1,113,079 shares during the period. Manning & Napier Advisors LLC purchased a new position in shares of Intercontinental Exchange during the 2nd quarter valued at $124,508,000. Janus Henderson Group PLC increased its holdings in shares of Intercontinental Exchange by 589.4% in the first quarter. Janus Henderson Group PLC now owns 804,507 shares of the financial services provider’s stock worth $110,559,000 after purchasing an additional 687,817 shares during the period. Finally, James Hambro & Partners purchased a new stake in shares of Intercontinental Exchange in the second quarter worth $93,340,000. 89.30% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CAO James W. Namkung sold 1,043 shares of the business’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $150.00, for a total transaction of $156,450.00. Following the transaction, the chief accounting officer now owns 17,836 shares in the company, valued at $2,675,400. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CAO James W. Namkung sold 1,043 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $150.00, for a total transaction of $156,450.00. Following the transaction, the chief accounting officer now directly owns 17,836 shares of the company’s stock, valued at approximately $2,675,400. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Martha A. Tirinnanzi sold 509 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $158.98, for a total value of $80,920.82. Following the completion of the sale, the director now directly owns 3,958 shares of the company’s stock, valued at $629,242.84. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 8,532 shares of company stock valued at $1,358,709. Insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on ICE shares. Piper Sandler boosted their target price on Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. The Goldman Sachs Group upped their price objective on shares of Intercontinental Exchange from $171.00 to $185.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 target price on shares of Intercontinental Exchange in a research report on Friday, October 4th. Barclays increased their price target on shares of Intercontinental Exchange from $167.00 to $179.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Finally, Morgan Stanley lifted their price objective on shares of Intercontinental Exchange from $160.00 to $174.00 and gave the stock an “equal weight” rating in a report on Thursday. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Intercontinental Exchange presently has a consensus rating of “Moderate Buy” and a consensus target price of $172.80.

Intercontinental Exchange Price Performance

Shares of Intercontinental Exchange stock opened at $166.83 on Monday. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.99. Intercontinental Exchange, Inc. has a one year low of $104.49 and a one year high of $167.23. The business’s 50 day simple moving average is $160.55 and its two-hundred day simple moving average is $146.32. The stock has a market capitalization of $95.69 billion, a P/E ratio of 38.26, a price-to-earnings-growth ratio of 2.62 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, August 1st. The financial services provider reported $1.52 EPS for the quarter, topping the consensus estimate of $1.49 by $0.03. The company had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.31 billion. Intercontinental Exchange had a net margin of 21.43% and a return on equity of 12.70%. The firm’s revenue for the quarter was up 22.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.43 earnings per share. Analysts forecast that Intercontinental Exchange, Inc. will post 6.08 EPS for the current year.

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.