Persistent Asset Partners Ltd Invests $662,000 in Intercontinental Exchange Inc. $ICE

Persistent Asset Partners Ltd acquired a new stake in Intercontinental Exchange Inc. (NYSE:ICE) during the fourth quarter, Holdings Channel.com reports. The fund acquired 4,087 shares of the financial services provider’s stock, valued at approximately $662,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Ares Financial Consulting LLC bought a new stake in shares of Intercontinental Exchange during the 4th quarter worth $25,000. Holos Integrated Wealth LLC bought a new position in Intercontinental Exchange in the fourth quarter valued at about $28,000. Steph & Co. grew its position in Intercontinental Exchange by 104.7% in the fourth quarter. Steph & Co. now owns 174 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 89 shares during the last quarter. Brooklands Fund Management Ltd acquired a new position in Intercontinental Exchange during the fourth quarter worth about $28,000. Finally, Swiss RE Ltd. bought a new position in shares of Intercontinental Exchange in the fourth quarter worth about $28,000. Institutional investors own 89.30% of the company’s stock.

Insider Transactions at Intercontinental Exchange

In other news, CTO Mayur Kapani sold 4,271 shares of the firm’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $155.42, for a total transaction of $663,798.82. Following the completion of the transaction, the chief technology officer owned 64,869 shares of the company’s stock, valued at approximately $10,081,939.98. This trade represents a 6.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 4,573 shares of Intercontinental Exchange stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $151.56, for a total transaction of $693,083.88. Following the transaction, the general counsel owned 45,473 shares in the company, valued at approximately $6,891,887.88. This trade represents a 9.14% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 13,425 shares of company stock worth $2,046,324. 0.84% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ICE. Rothschild & Co Redburn set a $177.00 price target on shares of Intercontinental Exchange in a research note on Thursday, June 11th. Barclays reiterated an “overweight” rating and set a $201.00 price objective (up from $198.00) on shares of Intercontinental Exchange in a research report on Friday, May 1st. Keefe, Bruyette & Woods began coverage on shares of Intercontinental Exchange in a research note on Wednesday, April 8th. They issued an “outperform” rating and a $190.00 price objective for the company. Piper Sandler reaffirmed an “overweight” rating and set a $211.00 target price (up from $195.00) on shares of Intercontinental Exchange in a research note on Wednesday, April 15th. Finally, Morgan Stanley upped their price target on shares of Intercontinental Exchange from $183.00 to $187.00 and gave the stock an “equal weight” rating in a report on Friday, April 10th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $193.00.

Intercontinental Exchange Stock Performance

NYSE:ICE opened at $140.95 on Wednesday. The stock’s 50-day moving average is $153.32 and its 200-day moving average is $159.10. Intercontinental Exchange Inc. has a 1-year low of $136.67 and a 1-year high of $189.35. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63. The stock has a market cap of $79.71 billion, a P/E ratio of 20.52, a price-to-earnings-growth ratio of 1.34 and a beta of 0.92.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, April 30th. The financial services provider reported $2.35 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $2.88 billion. During the same quarter last year, the business earned $1.72 EPS. The firm’s quarterly revenue was up 20.4% on a year-over-year basis. Equities research analysts anticipate that Intercontinental Exchange Inc. will post 8.16 earnings per share for the current year.

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.