Intercontinental Exchange Inc. $ICE Shares Acquired by Hazlett Burt & Watson Inc.

by · The Cerbat Gem

Hazlett Burt & Watson Inc. boosted its position in shares of Intercontinental Exchange Inc. (NYSE:ICE – Free Report) by 32.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 594 shares of the financial services provider’s stock after purchasing an additional 145 shares during the period. Hazlett Burt & Watson Inc.’s holdings in Intercontinental Exchange were worth $109,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC grew its holdings in Intercontinental Exchange by 6.6% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 886,369 shares of the financial services provider’s stock worth $161,195,000 after acquiring an additional 55,057 shares in the last quarter. Genesee Capital Advisors LLC boosted its holdings in shares of Intercontinental Exchange by 1.7% in the 2nd quarter. Genesee Capital Advisors LLC now owns 11,536 shares of the financial services provider’s stock valued at $2,116,000 after buying an additional 196 shares during the period. CWM LLC boosted its holdings in shares of Intercontinental Exchange by 13.8% in the 2nd quarter. CWM LLC now owns 18,159 shares of the financial services provider’s stock valued at $3,332,000 after buying an additional 2,197 shares during the period. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Intercontinental Exchange by 16.8% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 93,213 shares of the financial services provider’s stock valued at $17,109,000 after buying an additional 13,425 shares during the period. Finally, Oak Ridge Investments LLC boosted its holdings in shares of Intercontinental Exchange by 1.3% in the 2nd quarter. Oak Ridge Investments LLC now owns 46,611 shares of the financial services provider’s stock valued at $8,552,000 after buying an additional 586 shares during the period. 89.30% of the stock is owned by institutional investors and hedge funds.

Intercontinental Exchange Price Performance

NYSE:ICE opened at $158.85 on Tuesday. The company has a fifty day moving average price of $173.41 and a 200 day moving average price of $173.99. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01. Intercontinental Exchange Inc. has a one year low of $142.29 and a one year high of $189.35. The stock has a market cap of $90.93 billion, a P/E ratio of 30.49, a PEG ratio of 1.93 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE – Get Free Report) last posted its earnings results on Thursday, July 31st. The financial services provider reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.77 by $0.04. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The business had revenue of $3.26 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same quarter in the prior year, the firm earned $1.52 EPS. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. Analysts anticipate that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently commented on ICE shares. Barclays reaffirmed an “overweight” rating and issued a $201.00 price target (down from $212.00) on shares of Intercontinental Exchange in a report on Wednesday, October 8th. UBS Group lifted their price objective on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the company a “buy” rating in a research report on Tuesday, July 8th. Morgan Stanley reduced their price objective on Intercontinental Exchange from $192.00 to $188.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 1st. Piper Sandler boosted their price objective on Intercontinental Exchange from $180.00 to $202.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 15th. Finally, JPMorgan Chase & Co. boosted their price objective on Intercontinental Exchange from $195.00 to $203.00 and gave the stock an “overweight” rating in a research report on Thursday, September 25th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $199.60.

Check Out Our Latest Analysis on Intercontinental Exchange

Insiders Place Their Bets

In other Intercontinental Exchange news, SVP Douglas Foley sold 1,600 shares of the firm’s stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $175.62, for a total transaction of $280,992.00. Following the sale, the senior vice president directly owned 25,796 shares in the company, valued at approximately $4,530,293.52. This trade represents a 5.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Judith A. Sprieser sold 2,900 shares of the firm’s stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $174.51, for a total transaction of $506,079.00. Following the sale, the director owned 18,169 shares in the company, valued at $3,170,672.19. This trade represents a 13.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 240,956 shares of company stock worth $43,789,542 over the last ninety days. Company insiders own 1.00% of the company’s stock.

Intercontinental Exchange Profile

(Free Report)

Intercontinental Exchange, Inc, together with its subsidiaries, engages in the provision of market infrastructure, data services, and technology solutions for financial institutions, corporations, and government entities in the United States, the United Kingdom, the European Union, Singapore, India, Abu Dhabi, Israel, and Canada.

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