M.D. Sass LLC Raises Holdings in Intercontinental Exchange Inc. $ICE

M.D. Sass LLC increased its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 16.0% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 374,368 shares of the financial services provider’s stock after purchasing an additional 51,666 shares during the period. Intercontinental Exchange accounts for approximately 4.5% of M.D. Sass LLC’s holdings, making the stock its 8th largest position. M.D. Sass LLC owned about 0.07% of Intercontinental Exchange worth $58,881,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Ares Financial Consulting LLC bought a new stake in Intercontinental Exchange in the 4th quarter valued at $25,000. Steph & Co. lifted its holdings in Intercontinental Exchange by 104.7% during the 4th quarter. Steph & Co. now owns 174 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 89 shares during the last quarter. Swiss RE Ltd. bought a new position in Intercontinental Exchange during the fourth quarter worth $28,000. Brooklands Fund Management Ltd acquired a new position in shares of Intercontinental Exchange in the fourth quarter valued at $28,000. Finally, Dorato Capital Management acquired a new position in shares of Intercontinental Exchange in the fourth quarter valued at $29,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. The Goldman Sachs Group cut their target price on shares of Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating for the company in a research note on Tuesday, June 30th. Raymond James Financial set a $208.00 price target on shares of Intercontinental Exchange in a research note on Monday, July 6th. Keefe, Bruyette & Woods started coverage on shares of Intercontinental Exchange in a research report on Wednesday, April 8th. They set an “outperform” rating and a $190.00 price objective for the company. Piper Sandler reduced their price objective on Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating for the company in a report on Wednesday, July 15th. Finally, Rothschild & Co Redburn set a $177.00 target price on Intercontinental Exchange in a research report on Thursday, June 11th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $181.58.

Intercontinental Exchange Trading Up 0.5%

Shares of Intercontinental Exchange stock opened at $143.19 on Friday. The firm has a 50-day moving average of $139.67 and a 200-day moving average of $154.14. The stock has a market cap of $80.98 billion, a PE ratio of 20.84, a PEG ratio of 1.48 and a beta of 0.94. Intercontinental Exchange Inc. has a 52-week low of $121.79 and a 52-week high of $189.35. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, April 30th. The financial services provider reported $2.35 EPS for the quarter, topping analysts’ consensus estimates of $2.23 by $0.12. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The business had revenue of $3.67 billion for the quarter, compared to analyst estimates of $2.88 billion. During the same period last year, the firm earned $1.72 earnings per share. Intercontinental Exchange’s revenue for the quarter was up 20.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Intercontinental Exchange Inc. will post 8.01 EPS for the current year.

Insider Activity

In other news, Director Sharon Bowen sold 667 shares of Intercontinental Exchange stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $151.28, for a total value of $100,903.76. Following the completion of the sale, the director directly owned 15,077 shares in the company, valued at approximately $2,280,848.56. The trade was a 4.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Warren Gardiner sold 2,490 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $156.64, for a total value of $390,033.60. Following the completion of the sale, the chief financial officer owned 25,189 shares of the company’s stock, valued at approximately $3,945,604.96. This trade represents a 9.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 13,425 shares of company stock worth $2,046,324. Insiders own 0.84% of the company’s stock.

Intercontinental Exchange Profile

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.