DT Investment Partners LLC Grows Position in Intercontinental Exchange, Inc. (NYSE:ICE)

DT Investment Partners LLC raised its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 30.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 813 shares of the financial services provider’s stock after purchasing an additional 188 shares during the quarter. DT Investment Partners LLC’s holdings in Intercontinental Exchange were worth $131,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in ICE. Vanguard Group Inc. lifted its stake 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 acquiring an additional 3,536,913 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Intercontinental Exchange by 4.3% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 5,280,194 shares of the financial services provider’s stock worth $725,657,000 after purchasing an additional 218,516 shares during the last quarter. Mawer Investment Management Ltd. boosted its stake in shares of Intercontinental Exchange by 0.6% during the first quarter. Mawer Investment Management Ltd. now owns 4,696,457 shares of the financial services provider’s stock valued at $645,434,000 after purchasing an additional 28,771 shares during the period. Legal & General Group Plc grew its holdings in shares of Intercontinental Exchange by 4.5% in the second quarter. Legal & General Group Plc now owns 4,453,286 shares of the financial services provider’s stock worth $609,609,000 after purchasing an additional 191,763 shares during the last quarter. Finally, Clearbridge Investments LLC grew its holdings in shares of Intercontinental Exchange by 10.4% in the second 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 during the last quarter. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Price Performance

NYSE ICE opened at $166.89 on Friday. The firm’s fifty day simple moving average is $161.21 and its two-hundred day simple moving average is $146.86. The firm has a market capitalization of $95.73 billion, a P/E ratio of 38.28, a P/E/G ratio of 2.62 and a beta of 1.08. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.69. Intercontinental Exchange, Inc. has a 12-month low of $104.49 and a 12-month high of $167.54.

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

Insider Transactions at Intercontinental Exchange

In related news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $159.57, for a total value of $326,799.36. Following the completion of the transaction, the general counsel now directly owns 44,865 shares of the company’s stock, valued at $7,159,108.05. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Intercontinental Exchange news, Director Judith A. Sprieser sold 1,941 shares of Intercontinental Exchange stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $160.69, for a total transaction of $311,899.29. Following the completion of the sale, the director now owns 26,908 shares of the company’s stock, valued at approximately $4,323,846.52. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Andrew J. Surdykowski sold 2,048 shares of the stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $159.57, for a total value of $326,799.36. Following the completion of the transaction, the general counsel now directly owns 44,865 shares in the company, valued at $7,159,108.05. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,489 shares of company stock worth $1,202,259. Insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on ICE shares. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Intercontinental Exchange from $152.00 to $154.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. Morgan Stanley lifted their target price on Intercontinental Exchange from $160.00 to $174.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. The Goldman Sachs Group increased their price target on Intercontinental Exchange from $171.00 to $185.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Piper Sandler lifted their price objective on Intercontinental Exchange from $170.00 to $180.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Finally, JPMorgan Chase & Co. raised their target price on shares of Intercontinental Exchange from $171.00 to $188.00 and gave the company an “overweight” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, Intercontinental Exchange presently has an average rating of “Moderate Buy” and an average target price of $173.93.

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.