Y Intercept Hong Kong Ltd Invests $2.19 Million in Intercontinental Exchange Inc. $ICE

Y Intercept Hong Kong Ltd bought a new position in shares of Intercontinental Exchange Inc. (NYSE:ICE) during the 3rd quarter, HoldingsChannel reports. The firm bought 12,979 shares of the financial services provider’s stock, valued at approximately $2,187,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Dynasty Wealth Management LLC acquired a new stake in Intercontinental Exchange during the third quarter worth about $897,000. Fifth Third Wealth Advisors LLC grew its stake in shares of Intercontinental Exchange by 37.7% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 11,920 shares of the financial services provider’s stock valued at $2,008,000 after buying an additional 3,261 shares during the period. Eastern Bank increased its holdings in shares of Intercontinental Exchange by 14.6% during the 3rd quarter. Eastern Bank now owns 203,731 shares of the financial services provider’s stock worth $34,325,000 after buying an additional 25,980 shares during the last quarter. Horizon Kinetics Asset Management LLC raised its position in shares of Intercontinental Exchange by 1.6% during the 2nd quarter. Horizon Kinetics Asset Management LLC now owns 831,758 shares of the financial services provider’s stock valued at $152,603,000 after buying an additional 13,497 shares during the period. Finally, Gateway Investment Advisers LLC lifted its holdings in Intercontinental Exchange by 3.0% in the third quarter. Gateway Investment Advisers LLC now owns 273,010 shares of the financial services provider’s stock valued at $45,997,000 after acquiring an additional 8,006 shares during the last quarter. 89.30% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ICE has been the subject of several recent analyst reports. TD Cowen reissued a “buy” rating on shares of Intercontinental Exchange in a research note on Wednesday, January 14th. Barclays set a $182.00 price objective on shares of Intercontinental Exchange and gave the company an “overweight” rating in a report on Thursday, January 8th. JPMorgan Chase & Co. lowered their target price on shares of Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating for the company in a research note on Friday, October 31st. Piper Sandler reissued an “overweight” rating and issued a $195.00 price target (down from $202.00) on shares of Intercontinental Exchange in a research note on Wednesday, January 14th. Finally, Morgan Stanley set a $180.00 price objective on shares of Intercontinental Exchange and gave the stock an “equal weight” rating in a report on Thursday, January 15th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $193.50.

Intercontinental Exchange Stock Performance

Shares of ICE stock opened at $172.40 on Thursday. The firm has a 50 day moving average of $163.18 and a two-hundred day moving average of $166.98. The stock has a market capitalization of $98.30 billion, a PE ratio of 31.40, a P/E/G ratio of 2.14 and a beta of 1.03. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.61. Intercontinental Exchange Inc. has a 52 week low of $143.17 and a 52 week high of $189.35.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, October 30th. The financial services provider reported $1.71 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.71. Intercontinental Exchange had a return on equity of 13.79% and a net margin of 25.24%.The business had revenue of $3.01 billion for the quarter, compared to analysts’ expectations of $2.49 billion. During the same period last year, the firm earned $1.55 earnings per share. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. On average, research analysts predict that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Jeffrey C. Sprecher sold 150,000 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, November 19th. The shares were sold at an average price of $153.08, for a total value of $22,962,000.00. Following the completion of the transaction, the chief executive officer owned 1,801,705 shares in the company, valued at $275,805,001.40. The trade was a 7.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Mayur Kapani sold 5,345 shares of the business’s stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $156.67, for a total transaction of $837,401.15. Following the transaction, the chief technology officer owned 65,240 shares of the company’s stock, valued at $10,221,150.80. This trade represents a 7.57% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 166,068 shares of company stock worth $25,470,702 over the last ninety days. Company insiders own 1.00% of the company’s stock.

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.