Phoenix Financial Ltd. Takes $1.52 Million Position in Intercontinental Exchange Inc. $ICE

Phoenix Financial Ltd. bought a new stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 9,000 shares of the financial services provider’s stock, valued at approximately $1,516,000.

A number of other hedge funds have also bought and sold shares of the company. Optivise Advisory Services LLC lifted its stake in Intercontinental Exchange by 3.1% in the second quarter. Optivise Advisory Services LLC now owns 1,794 shares of the financial services provider’s stock worth $329,000 after purchasing an additional 54 shares during the last quarter. ICONIQ Capital LLC grew its holdings in shares of Intercontinental Exchange by 2.2% in the second quarter. ICONIQ Capital LLC now owns 2,621 shares of the financial services provider’s stock worth $481,000 after purchasing an additional 56 shares during the last quarter. SBI Securities Co. Ltd. increased its stake in Intercontinental Exchange by 5.0% in the 2nd quarter. SBI Securities Co. Ltd. now owns 1,207 shares of the financial services provider’s stock worth $221,000 after buying an additional 58 shares during the period. Institute for Wealth Management LLC. increased its stake in Intercontinental Exchange by 1.9% in the 2nd quarter. Institute for Wealth Management LLC. now owns 3,255 shares of the financial services provider’s stock worth $597,000 after buying an additional 60 shares during the period. Finally, Confluence Wealth Services Inc. lifted its holdings in Intercontinental Exchange by 1.0% during the 2nd quarter. Confluence Wealth Services Inc. now owns 6,113 shares of the financial services provider’s stock valued at $1,121,000 after buying an additional 62 shares in the last quarter. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Price Performance

NYSE ICE opened at $173.34 on Wednesday. The company has a market cap of $98.84 billion, a price-to-earnings ratio of 31.57, a PEG ratio of 2.17 and a beta of 1.03. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01. The stock’s fifty day moving average price is $162.81 and its 200 day moving average price is $166.94. Intercontinental Exchange Inc. has a 1 year low of $143.17 and a 1 year high of $189.35.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, October 30th. The financial services provider reported $1.71 earnings per share for the quarter, hitting the consensus estimate of $1.71. The company had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $2.49 billion. Intercontinental Exchange had a net margin of 25.24% and a return on equity of 13.79%. Intercontinental Exchange’s quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.55 EPS. As a group, equities research analysts forecast that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ICE. Raymond James Financial reaffirmed a “strong-buy” rating and set a $211.00 target price on shares of Intercontinental Exchange in a research report on Tuesday, January 6th. Keefe, Bruyette & Woods upgraded shares of Intercontinental Exchange to a “moderate buy” rating in a report on Monday, October 6th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $180.00 price target on shares of Intercontinental Exchange in a research report on Tuesday, January 6th. Wall Street Zen lowered shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $195.00 target price (down previously from $202.00) on shares of Intercontinental Exchange in a research report on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $193.50.

Insider Buying and Selling

In other Intercontinental Exchange news, CTO Mayur Kapani sold 5,345 shares of Intercontinental Exchange stock in a transaction on Monday, December 8th. The shares were sold at an average price of $156.67, for a total transaction of $837,401.15. Following the sale, the chief technology officer owned 65,240 shares of the company’s stock, valued at $10,221,150.80. The trade was a 7.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Judith A. Sprieser sold 3,700 shares of the company’s stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $157.96, for a total value of $584,452.00. Following the completion of the sale, the director owned 14,469 shares of the company’s stock, valued at $2,285,523.24. This trade represents a 20.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 166,068 shares of company stock worth $25,470,702 in the last 90 days. 1.00% of the stock is owned by insiders.

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.