Saranac Partners Ltd Has $8.51 Million Stake in Intercontinental Exchange Inc. $ICE

Saranac Partners Ltd raised its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 29.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 52,479 shares of the financial services provider’s stock after purchasing an additional 11,801 shares during the quarter. Intercontinental Exchange accounts for approximately 3.3% of Saranac Partners Ltd’s investment portfolio, making the stock its 10th largest holding. Saranac Partners Ltd’s holdings in Intercontinental Exchange were worth $8,509,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Dynasty Wealth Management LLC bought a new stake in shares of Intercontinental Exchange during the third quarter worth $897,000. Rockland Trust Co. lifted its position in shares of Intercontinental Exchange by 19.7% during the third quarter. Rockland Trust Co. now owns 127,652 shares of the financial services provider’s stock worth $21,507,000 after purchasing an additional 20,981 shares during the last quarter. M&G PLC lifted its position in shares of Intercontinental Exchange by 18.4% during the third quarter. M&G PLC now owns 107,070 shares of the financial services provider’s stock worth $17,988,000 after purchasing an additional 16,635 shares during the last quarter. McKinley Carter Wealth Services Inc. lifted its position in shares of Intercontinental Exchange by 15.9% during the third quarter. McKinley Carter Wealth Services Inc. now owns 31,506 shares of the financial services provider’s stock worth $5,308,000 after purchasing an additional 4,333 shares during the last quarter. Finally, National Pension Service lifted its position in shares of Intercontinental Exchange by 2.5% during the third quarter. National Pension Service now owns 1,389,561 shares of the financial services provider’s stock worth $234,113,000 after purchasing an additional 34,358 shares during the last quarter. 89.30% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Intercontinental Exchange news, President Benjamin Jackson sold 3,865 shares of Intercontinental Exchange stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $153.73, for a total value of $594,166.45. Following the transaction, the president owned 165,304 shares in the company, valued at $25,412,183.92. The trade was a 2.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Mayur Kapani sold 4,271 shares of Intercontinental Exchange stock in a transaction dated Thursday, May 14th. The shares were 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 trade represents a 6.18% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 39,956 shares of company stock valued at $6,190,895 over the last three months. Corporate insiders own 0.84% of the company’s stock.

Intercontinental Exchange Stock Performance

ICE stock opened at $154.18 on Wednesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01. The business has a 50-day moving average price of $158.87 and a 200 day moving average price of $159.96. The company has a market capitalization of $87.19 billion, a P/E ratio of 22.44, a PEG ratio of 1.44 and a beta of 0.96. Intercontinental Exchange Inc. has a 1-year low of $143.17 and a 1-year high of $189.35.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, April 30th. The financial services provider reported $2.35 earnings per share for the quarter, beating the consensus estimate of $2.23 by $0.12. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The firm had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $2.88 billion. During the same period in the previous year, the company posted $1.72 earnings per share. The firm’s quarterly revenue was up 20.4% on a year-over-year basis. As a group, equities research analysts forecast that Intercontinental Exchange Inc. will post 8.16 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently weighed in on ICE. Wall Street Zen upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. Barclays restated an “overweight” rating and issued a $201.00 price objective (up from $198.00) on shares of Intercontinental Exchange in a report on Friday, May 1st. Keefe, Bruyette & Woods started coverage on Intercontinental Exchange in a report on Wednesday, April 8th. They issued an “outperform” rating and a $190.00 price objective for the company. Morgan Stanley lifted their price objective on Intercontinental Exchange from $183.00 to $187.00 and gave the company an “equal weight” rating in a report on Friday, April 10th. Finally, Weiss Ratings downgraded Intercontinental Exchange from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $194.10.

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.