Intercontinental Exchange Inc. $ICE is Hahn Capital Management LLC’s 5th Largest Position

Hahn Capital Management LLC cut its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 17.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 46,683 shares of the financial services provider’s stock after selling 10,083 shares during the period. Intercontinental Exchange makes up 4.6% of Hahn Capital Management LLC’s holdings, making the stock its 5th biggest holding. Hahn Capital Management LLC’s holdings in Intercontinental Exchange were worth $7,342,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the stock. PNC Financial Services Group Inc. boosted its stake in shares of Intercontinental Exchange by 5.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 191,658 shares of the financial services provider’s stock valued at $31,041,000 after purchasing an additional 10,742 shares during the period. USS Investment Management Ltd lifted its holdings in Intercontinental Exchange by 37.2% during the 1st quarter. USS Investment Management Ltd now owns 946,920 shares of the financial services provider’s stock worth $148,960,000 after buying an additional 256,851 shares in the last quarter. Walter Public Investments Inc. increased its position in shares of Intercontinental Exchange by 13.8% during the fourth quarter. Walter Public Investments Inc. now owns 124,993 shares of the financial services provider’s stock worth $20,244,000 after acquiring an additional 15,129 shares during the period. Vanguard Group Inc. raised its stake in shares of Intercontinental Exchange by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 54,153,170 shares of the financial services provider’s stock valued at $8,770,647,000 after acquiring an additional 413,639 shares in the last quarter. Finally, OFI Invest Asset Management raised its stake in shares of Intercontinental Exchange by 51,986.3% in the fourth quarter. OFI Invest Asset Management now owns 400,544 shares of the financial services provider’s stock valued at $64,872,000 after acquiring an additional 399,775 shares in the last quarter. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Intercontinental Exchange Trading Down 0.1%

NYSE:ICE opened at $139.55 on Monday. The stock has a 50-day simple moving average of $140.83 and a 200-day simple moving average of $154.71. The stock has a market cap of $78.92 billion, a P/E ratio of 20.31, a P/E/G ratio of 1.44 and a beta of 0.94. Intercontinental Exchange Inc. has a 1 year low of $121.79 and a 1 year high of $189.35. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share for the quarter, topping the consensus estimate of $2.23 by $0.12. The business had revenue of $3.67 billion for the quarter, compared to analyst estimates of $2.88 billion. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The business’s quarterly revenue was up 20.4% on a year-over-year basis. During the same quarter last year, the company earned $1.72 EPS. As a group, analysts anticipate that Intercontinental Exchange Inc. will post 8.07 earnings per share for the current fiscal year.

Insider Activity at Intercontinental Exchange

In other 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 transaction of $693,083.88. Following the completion of the sale, the general counsel owned 45,473 shares in the company, valued at approximately $6,891,887.88. The trade was a 9.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William Jefferson Hague sold 1,333 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $139.46, for a total transaction of $185,900.18. Following the sale, the director owned 20,132 shares of the company’s stock, valued at $2,807,608.72. This represents a 6.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 13,425 shares of company stock valued at $2,046,324 in the last quarter. Company insiders own 0.84% of the company’s stock.

Analysts Set New Price Targets

ICE has been the subject of several recent research reports. Barclays decreased their price objective on Intercontinental Exchange from $201.00 to $180.00 and set an “overweight” rating for the company in a research note on Thursday, July 9th. Rothschild & Co Redburn set a $177.00 target price on shares of Intercontinental Exchange in a report on Thursday, June 11th. Piper Sandler decreased their price target on shares of Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating for the company in a research note on Wednesday, July 15th. Keefe, Bruyette & Woods assumed coverage on shares of Intercontinental Exchange in a report on Wednesday, April 8th. They set an “outperform” rating and a $190.00 price target for the company. Finally, Morgan Stanley dropped their price objective on shares of Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating on the stock in a research report on Friday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $181.58.

Intercontinental Exchange Company 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.