Pacer Advisors Inc. Grows Stock Position in Intercontinental Exchange Inc. $ICE

Pacer Advisors Inc. boosted its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 11.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 52,186 shares of the financial services provider’s stock after buying an additional 5,279 shares during the period. Pacer Advisors Inc.’s holdings in Intercontinental Exchange were worth $8,452,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its holdings in Intercontinental Exchange by 51.3% in the fourth quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider’s stock valued at $514,000 after purchasing an additional 1,169 shares during the period. Empowered Funds LLC increased its position in Intercontinental Exchange by 9.0% during the first quarter. Empowered Funds LLC now owns 14,396 shares of the financial services provider’s stock worth $2,483,000 after purchasing an additional 1,189 shares during the last quarter. Sivia Capital Partners LLC raised its stake in Intercontinental Exchange by 16.2% during the second quarter. Sivia Capital Partners LLC now owns 2,078 shares of the financial services provider’s stock worth $381,000 after purchasing an additional 289 shares during the period. NewEdge Advisors LLC boosted its holdings in shares of Intercontinental Exchange by 27.9% in the 2nd quarter. NewEdge Advisors LLC now owns 21,213 shares of the financial services provider’s stock valued at $3,892,000 after purchasing an additional 4,628 shares during the last quarter. Finally, Treasurer of the State of North Carolina boosted its holdings in shares of Intercontinental Exchange by 2.4% in the 2nd quarter. Treasurer of the State of North Carolina now owns 266,496 shares of the financial services provider’s stock valued at $48,894,000 after purchasing an additional 6,373 shares during the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Trading Down 0.1%

Shares of ICE opened at $133.76 on Monday. Intercontinental Exchange Inc. has a one year low of $132.84 and a one year high of $189.35. The stock has a 50-day moving average price of $151.34 and a 200 day moving average price of $158.61. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market capitalization of $75.64 billion, a P/E ratio of 19.47, a P/E/G ratio of 1.28 and a beta of 0.92.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, April 30th. The financial services provider reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.23 by $0.12. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The company had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $2.88 billion. During the same period in the previous year, the business earned $1.72 EPS. Intercontinental Exchange’s revenue for the quarter was up 20.4% compared to the same quarter last year. Sell-side analysts forecast that Intercontinental Exchange Inc. will post 8.16 EPS for the current fiscal year.

Insider Buying and Selling at Intercontinental Exchange

In related news, Director William Jefferson Hague sold 1,333 shares of Intercontinental Exchange stock in a transaction on Friday, June 12th. The shares were sold at an average price of $139.46, for a total value of $185,900.18. Following the completion of the sale, the director owned 20,132 shares in the company, valued at approximately $2,807,608.72. The trade was a 6.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Andrew J. Surdykowski sold 4,573 shares of the company’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $151.56, for a total transaction of $693,083.88. Following the completion of the sale, the general counsel directly owned 45,473 shares in the company, valued at $6,891,887.88. This represents a 9.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 13,425 shares of company stock valued at $2,046,324. Corporate insiders own 0.84% of the company’s stock.

Analyst Ratings Changes

ICE has been the subject of several research reports. UBS Group reissued a “buy” rating and set a $205.00 price objective on shares of Intercontinental Exchange in a research note on Wednesday, May 20th. Piper Sandler reaffirmed an “overweight” rating and issued a $211.00 target price (up from $195.00) on shares of Intercontinental Exchange in a research report on Wednesday, April 15th. Keefe, Bruyette & Woods began coverage on Intercontinental Exchange in a report on Wednesday, April 8th. They issued an “outperform” rating and a $190.00 target price on the stock. Rothschild & Co Redburn set a $177.00 price target on Intercontinental Exchange in a research report on Thursday, June 11th. Finally, Morgan Stanley upped their price target on Intercontinental Exchange from $183.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Friday, April 10th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $193.00.

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.