HighTower Advisors LLC Grows Stock Position in Intercontinental Exchange Inc. $ICE

HighTower Advisors LLC grew its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 2.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 244,526 shares of the financial services provider’s stock after purchasing an additional 6,854 shares during the period. HighTower Advisors LLC’s holdings in Intercontinental Exchange were worth $39,603,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ares Financial Consulting LLC purchased a new stake in Intercontinental Exchange in the fourth quarter worth $25,000. Holos Integrated Wealth LLC purchased a new stake in Intercontinental Exchange in the fourth quarter worth $28,000. Steph & Co. increased its stake in Intercontinental Exchange by 104.7% in the fourth quarter. Steph & Co. now owns 174 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 89 shares during the period. Dorato Capital Management purchased a new stake in Intercontinental Exchange in the fourth quarter worth $29,000. Finally, Caitlin John LLC purchased a new stake in Intercontinental Exchange in the third quarter worth $32,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Insider Transactions at Intercontinental Exchange

In other news, General Counsel Andrew J. Surdykowski sold 4,571 shares of the stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $162.00, for a total transaction of $740,502.00. Following the transaction, the general counsel owned 48,181 shares of the company’s stock, valued at approximately $7,805,322. This represents a 8.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Mayur Kapani sold 4,271 shares of the 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 transaction, the chief technology officer directly owned 64,869 shares in the company, valued at $10,081,939.98. The trade was a 6.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 11,332 shares of company stock valued at $1,794,334. 0.84% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ICE. Keefe, Bruyette & Woods began coverage on Intercontinental Exchange in a research note on Wednesday, April 8th. They issued an “outperform” rating and a $190.00 target price on the stock. UBS Group reiterated a “buy” rating and issued a $205.00 target price on shares of Intercontinental Exchange in a research note on Wednesday. Piper Sandler reiterated an “overweight” rating and issued a $211.00 target price (up from $195.00) on shares of Intercontinental Exchange in a research note on Wednesday, April 15th. Morgan Stanley increased their target price on Intercontinental Exchange from $183.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Friday, April 10th. Finally, Barclays reiterated an “overweight” rating and issued a $201.00 target price (up from $198.00) on shares of Intercontinental Exchange in a research note on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $194.60.

Intercontinental Exchange Price Performance

ICE opened at $151.35 on Friday. Intercontinental Exchange Inc. has a 12-month low of $143.17 and a 12-month high of $189.35. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63. The business’s fifty day simple moving average is $158.41 and its 200-day simple moving average is $160.02. The company has a market capitalization of $85.59 billion, a price-to-earnings ratio of 22.03, a PEG ratio of 1.40 and a beta of 0.96.

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

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.