Cerity Partners LLC Has $45.33 Million Holdings in Intercontinental Exchange Inc. $ICE

Cerity Partners LLC lifted its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 5.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 279,857 shares of the financial services provider’s stock after buying an additional 14,577 shares during the quarter. Cerity Partners LLC’s holdings in Intercontinental Exchange were worth $45,326,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Ares Financial Consulting LLC acquired a new position in shares of Intercontinental Exchange in the 4th quarter worth approximately $25,000. Holos Integrated Wealth LLC bought a new stake in Intercontinental Exchange during the 4th quarter worth approximately $28,000. Steph & Co. grew its position in Intercontinental Exchange by 104.7% during the 4th quarter. Steph & Co. now owns 174 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 89 shares during the last quarter. Dorato Capital Management bought a new stake in Intercontinental Exchange during the 4th quarter worth approximately $29,000. Finally, Lloyd Advisory Services LLC. bought a new stake in Intercontinental Exchange during the 4th quarter worth approximately $30,000. 89.30% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, CFO Warren Gardiner sold 2,490 shares of the stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $156.64, for a total value of $390,033.60. Following the transaction, the chief financial officer directly owned 25,189 shares in the company, valued at approximately $3,945,604.96. This trade represents a 9.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Mayur Kapani sold 4,271 shares of the firm’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $155.42, for a total value of $663,798.82. Following the completion of the transaction, the chief technology officer owned 64,869 shares in the company, valued at $10,081,939.98. This represents a 6.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 12,001 shares of company stock valued at $1,847,820 over the last 90 days. 0.84% of the stock is currently owned by corporate insiders.

Intercontinental Exchange Stock Down 0.8%

Shares of ICE opened at $140.45 on Thursday. The firm has a market capitalization of $79.43 billion, a price-to-earnings ratio of 20.44, a PEG ratio of 1.36 and a beta of 0.92. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01. The business’s fifty day moving average price is $154.94 and its two-hundred day moving average price is $159.52. Intercontinental Exchange Inc. has a 52 week low of $136.67 and a 52 week high of $189.35.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, April 30th. The financial services provider reported $2.35 EPS for the quarter, beating analysts’ consensus estimates of $2.23 by $0.12. The firm had revenue of $3.67 billion for the quarter, compared to analyst estimates of $2.88 billion. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The business’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same period last year, the company earned $1.72 EPS. On average, analysts predict that Intercontinental Exchange Inc. will post 8.16 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on ICE shares. Weiss Ratings lowered Intercontinental Exchange from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, June 2nd. Morgan Stanley increased their price target on Intercontinental Exchange from $183.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Friday, April 10th. Keefe, Bruyette & Woods started coverage on Intercontinental Exchange in a research report on Wednesday, April 8th. They set an “outperform” rating and a $190.00 price target on the stock. Deutsche Bank Aktiengesellschaft upgraded Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 price target on the stock in a research report on Friday, March 6th. Finally, Piper Sandler restated an “overweight” rating and set a $211.00 price target (up from $195.00) on shares of Intercontinental Exchange in a research report on Wednesday, April 15th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $194.60.

About Intercontinental Exchange

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.