Kelly Lawrence W & Associates Inc. CA Takes $10.93 Million Position in Intercontinental Exchange Inc. $ICE

Kelly Lawrence W & Associates Inc. CA purchased a new stake in Intercontinental Exchange Inc. (NYSE:ICE) during the second quarter, according to its most recent filing with the SEC. The firm purchased 88,773 shares of the financial services provider’s stock, valued at approximately $10,929,000. Intercontinental Exchange accounts for approximately 2.3% of Kelly Lawrence W & Associates Inc. CA’s portfolio, making the stock its 17th largest position.

Other hedge funds and other institutional investors have also bought and sold shares of the company. J. Stern & Co. LLP grew its holdings in Intercontinental Exchange by 17,398.1% during the fourth quarter. J. Stern & Co. LLP now owns 54,107,273 shares of the financial services provider’s stock valued at $8,763,214,000 after purchasing an additional 53,798,055 shares during the period. BlackRock Inc. acquired a new stake in Intercontinental Exchange in the second quarter worth $6,245,085,000. Norges Bank bought a new position in shares of Intercontinental Exchange during the fourth quarter worth $1,418,228,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Intercontinental Exchange during the second quarter worth $714,869,000. Finally, Flossbach Von Storch SE acquired a new position in shares of Intercontinental Exchange in the 2nd quarter valued at $649,900,000. Institutional investors own 89.30% of the company’s stock.

Analyst Upgrades and Downgrades

ICE has been the subject of a number of recent analyst reports. Piper Sandler lowered their price objective on shares of Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating for the company in a research report on Wednesday, July 15th. Wall Street Zen raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Saturday. UBS Group restated a “buy” rating and issued a $195.00 price target (up from $190.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. Rothschild & Co Redburn set a $177.00 price target on Intercontinental Exchange in a research report on Thursday, June 11th. Finally, The Goldman Sachs Group cut their price objective on Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $183.33.

Insider Transactions at Intercontinental Exchange

In other news, Director William Jefferson Hague sold 1,333 shares of the company’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $139.46, for a total transaction of $185,900.18. Following the completion of the transaction, the director directly owned 20,132 shares of the company’s stock, valued at $2,807,608.72. This represents a 6.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Mayur Kapani sold 4,271 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $151.20, for a total value of $645,775.20. Following the completion of the sale, the chief technology officer directly owned 67,988 shares in the company, valued at approximately $10,279,785.60. This represents a 5.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 17,227 shares of company stock valued at $2,598,301. 0.84% of the stock is currently owned by company insiders.

Intercontinental Exchange Stock Up 1.0%

Shares of ICE stock opened at $162.89 on Tuesday. Intercontinental Exchange Inc. has a 12-month low of $121.79 and a 12-month high of $181.65. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63. The firm has a fifty day moving average of $142.80 and a 200-day moving average of $151.54. The company has a market capitalization of $91.45 billion, a price-to-earnings ratio of 23.01, a P/E/G ratio of 1.57 and a beta of 0.92.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.90 EPS for the quarter, beating the consensus estimate of $1.84 by $0.06. The business had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $2.63 billion. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The firm’s revenue was up 4.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.81 EPS. As a group, equities research analysts predict that Intercontinental Exchange Inc. will post 8.1 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.