LGT Capital Partners LTD. Buys 26,925 Shares of Intercontinental Exchange Inc. $ICE

LGT Capital Partners LTD. grew its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 12.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 243,138 shares of the financial services provider’s stock after purchasing an additional 26,925 shares during the period. Intercontinental Exchange makes up about 2.0% of LGT Capital Partners LTD.’s portfolio, making the stock its 20th biggest position. LGT Capital Partners LTD.’s holdings in Intercontinental Exchange were worth $39,379,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. X Square Capital LLC lifted its stake in shares of Intercontinental Exchange by 6.6% in the 4th quarter. X Square Capital LLC now owns 2,594 shares of the financial services provider’s stock valued at $420,000 after purchasing an additional 161 shares during the last quarter. TIAA Trust National Association lifted its stake in shares of Intercontinental Exchange by 1.4% in the 4th quarter. TIAA Trust National Association now owns 10,194 shares of the financial services provider’s stock valued at $1,651,000 after purchasing an additional 142 shares during the last quarter. Cerity Partners LLC lifted its stake in shares of Intercontinental Exchange by 5.5% in the 4th quarter. Cerity Partners LLC now owns 279,857 shares of the financial services provider’s stock valued at $45,326,000 after purchasing an additional 14,577 shares during the last quarter. Cantillon Capital Management LLC lifted its stake in shares of Intercontinental Exchange by 0.8% in the 4th quarter. Cantillon Capital Management LLC now owns 3,337,982 shares of the financial services provider’s stock valued at $540,620,000 after purchasing an additional 25,032 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC lifted its stake in shares of Intercontinental Exchange by 0.4% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 98,550 shares of the financial services provider’s stock valued at $15,961,000 after purchasing an additional 426 shares during the last quarter. 89.30% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Morgan Stanley raised their price objective on Intercontinental Exchange from $183.00 to $187.00 and gave the company an “equal weight” rating in a research note on Friday, April 10th. 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 for the company. Piper Sandler reissued an “overweight” rating and set a $211.00 price target (up from $195.00) on shares of Intercontinental Exchange in a research note on Wednesday, April 15th. Barclays reissued an “overweight” rating and set a $201.00 price target (up from $198.00) on shares of Intercontinental Exchange in a research note on Friday, May 1st. Finally, UBS Group reissued a “buy” rating and set a $205.00 price target on shares of Intercontinental Exchange in a research note on Wednesday, May 20th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $194.60.

Intercontinental Exchange Trading Down 1.8%

Shares of NYSE ICE opened at $138.89 on Tuesday. The firm has a market cap of $78.54 billion, a PE ratio of 20.22, a price-to-earnings-growth ratio of 1.36 and a beta of 0.92. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63. Intercontinental Exchange Inc. has a twelve month low of $136.67 and a twelve month high of $189.35. The business has a fifty day simple moving average of $155.49 and a two-hundred day simple moving average of $159.68.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, April 30th. The financial services provider reported $2.35 EPS for the quarter, topping the consensus estimate of $2.23 by $0.12. The firm had revenue of $3.67 billion during 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 revenue for the quarter was up 20.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.72 EPS. Analysts expect that Intercontinental Exchange Inc. will post 8.16 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, General Counsel Andrew J. Surdykowski sold 4,573 shares of the business’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $151.56, for a total value of $693,083.88. Following the completion of the transaction, the general counsel directly owned 45,473 shares of the company’s stock, valued at approximately $6,891,887.88. The trade was a 9.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Mayur Kapani sold 4,271 shares of the business’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $155.42, for a total value of $663,798.82. Following the completion of the transaction, the chief technology officer directly owned 64,869 shares of the company’s stock, valued at approximately $10,081,939.98. The trade was a 6.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 12,001 shares of company stock valued at $1,847,820. 0.84% of the stock is currently owned by insiders.

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.