4,613 Shares in Intercontinental Exchange Inc. $ICE Acquired by Twin City Private Wealth LLC

Twin City Private Wealth LLC acquired a new position in shares of Intercontinental Exchange Inc. (NYSE:ICE) during the 1st quarter, Holdings Channel reports. The fund acquired 4,613 shares of the financial services provider’s stock, valued at approximately $726,000.

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

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 4,573 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $151.56, for a total value of $693,083.88. Following the completion of the sale, the general counsel directly owned 45,473 shares of the company’s stock, valued at $6,891,887.88. The trade was a 9.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Warren Gardiner sold 2,490 shares of the company’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $156.64, for a total transaction 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 $3,945,604.96. This 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 three months, insiders sold 13,425 shares of company stock valued at $2,046,324. Insiders own 0.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ICE. TD Cowen dropped their price target on shares of Intercontinental Exchange from $193.00 to $153.00 and set a “buy” rating for the company in a research note on Monday, June 22nd. Keefe, Bruyette & Woods assumed coverage on Intercontinental Exchange in a research report on Wednesday, April 8th. They set an “outperform” rating and a $190.00 price target on the stock. Weiss Ratings downgraded shares of Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, June 17th. The Goldman Sachs Group cut their target price on Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating on the stock in a research note on Tuesday. Finally, Piper Sandler restated an “overweight” rating and set a $211.00 price target (up from $195.00) on shares of Intercontinental Exchange in a research report on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $188.58.

Intercontinental Exchange Price Performance

ICE opened at $126.98 on Thursday. The stock has a fifty day moving average of $145.67 and a 200-day moving average of $156.84. Intercontinental Exchange Inc. has a 12-month low of $121.79 and a 12-month high of $189.35. The firm has a market capitalization of $71.81 billion, a P/E ratio of 18.48, a PEG ratio of 1.15 and a beta of 0.94. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.23 by $0.12. The company had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $2.88 billion. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The company’s revenue was up 20.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.72 EPS. Equities analysts forecast that Intercontinental Exchange Inc. will post 8.37 EPS for the current fiscal year.

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.