Intercontinental Exchange Inc. $ICE Shares Acquired by M.D. Sass LLC

M.D. Sass LLC increased its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 16.0% in the 1st quarter, HoldingsChannel reports. The firm owned 374,368 shares of the financial services provider’s stock after acquiring an additional 51,666 shares during the quarter. Intercontinental Exchange accounts for 4.5% of M.D. Sass LLC’s portfolio, making the stock its 8th largest holding. M.D. Sass LLC’s holdings in Intercontinental Exchange were worth $58,881,000 as of its most recent SEC filing.

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

Insider Activity at Intercontinental Exchange

In related news, General Counsel Andrew J. Surdykowski sold 4,573 shares of the firm’s 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 sale, the general counsel owned 45,473 shares of the company’s stock, valued at $6,891,887.88. This trade represents a 9.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Warren Gardiner sold 2,490 shares of the business’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $156.64, for a total value of $390,033.60. Following the sale, the chief financial officer owned 25,189 shares in the company, valued at $3,945,604.96. This represents a 9.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 13,425 shares of company stock worth $2,046,324 over the last 90 days. 0.84% of the stock is currently owned by company insiders.

Intercontinental Exchange Price Performance

Shares of NYSE:ICE opened at $143.19 on Friday. Intercontinental Exchange Inc. has a one year low of $121.79 and a one year high of $189.35. 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 company has a market cap of $80.98 billion, a price-to-earnings ratio of 20.84, a PEG ratio of 1.48 and a beta of 0.94. The firm has a 50 day simple moving average of $139.67 and a 200 day simple moving average of $154.14.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share for the quarter, topping analysts’ consensus estimates of $2.23 by $0.12. The firm had revenue of $3.67 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.72 earnings per share. Research analysts predict that Intercontinental Exchange Inc. will post 8.01 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Piper Sandler cut their target price on Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating for the company in a research note on Wednesday, July 15th. The Goldman Sachs Group decreased their price target on Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. Morgan Stanley lowered their price target on Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating for the company in a report on Friday, July 10th. TD Cowen reduced their price objective on Intercontinental Exchange from $193.00 to $153.00 and set a “buy” rating on the stock in a research note on Monday, June 22nd. Finally, Keefe, Bruyette & Woods initiated coverage on Intercontinental Exchange in a research note on Wednesday, April 8th. They issued an “outperform” rating and a $190.00 price objective on the stock. One 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 stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $181.58.

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.