Sone Capital Management LLC Buys New Stake in Intercontinental Exchange Inc. $ICE

Sone Capital Management LLC purchased a new position in Intercontinental Exchange Inc. (NYSE:ICE) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 165,990 shares of the financial services provider’s stock, valued at approximately $20,435,000. Intercontinental Exchange makes up 1.6% of Sone Capital Management LLC’s investment portfolio, making the stock its 19th largest holding.

A number of other institutional investors also recently added to or reduced their stakes in ICE. Van Hulzen Asset Management LLC bought a new position in shares of Intercontinental Exchange during the 2nd quarter worth approximately $1,771,000. Peak Asset Management LLC bought a new stake in Intercontinental Exchange in the second quarter valued at $267,000. Fiduciary Financial Advisors acquired a new position in Intercontinental Exchange during the second quarter worth $33,000. Manning & Napier Advisors LLC bought a new position in shares of Intercontinental Exchange during the second quarter valued at $386,000. Finally, Goodnow Investment Group LLC bought a new position in shares of Intercontinental Exchange during the second quarter valued at $7,196,000. 89.30% of the stock is owned by institutional investors and hedge funds.

Intercontinental Exchange Stock Performance

Shares of NYSE:ICE opened at $162.89 on Tuesday. The business has a fifty day moving average of $142.80 and a 200-day moving average of $151.54. 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 Inc. has a twelve month low of $121.79 and a twelve month high of $181.65. The firm has a market cap of $91.45 billion, a PE ratio of 23.01, a price-to-earnings-growth 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 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.06. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The firm had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $2.63 billion. During the same quarter last year, the company posted $1.81 EPS. The company’s quarterly revenue was up 4.8% compared to the same quarter last year. On average, equities research analysts predict that Intercontinental Exchange Inc. will post 8.1 EPS for the current fiscal year.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, CFO Warren Gardiner sold 2,491 shares of the stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $156.30, for a total value of $389,343.30. Following the transaction, the chief financial officer directly owned 22,698 shares in the company, valued at approximately $3,547,697.40. This trade represents a 9.89% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William Jefferson Hague sold 1,333 shares of Intercontinental Exchange stock in a transaction on Friday, June 12th. The shares were sold at an average price of $139.46, for a total value of $185,900.18. Following the completion of the sale, the director directly owned 20,132 shares of the company’s stock, valued at $2,807,608.72. This trade represents a 6.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 17,227 shares of company stock worth $2,598,301 in the last quarter. 0.84% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ICE. Piper Sandler lowered their target price on shares of Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating on the stock in a report on Wednesday, July 15th. TD Cowen restated a “buy” rating and issued a $177.00 price target (up from $159.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. Wall Street Zen raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Saturday. Morgan Stanley dropped their price objective on shares of Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating for the company in a report on Friday, July 10th. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $183.33.

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.