Focus Partners Advisor Solutions LLC Acquires Shares of 4,001 Intercontinental Exchange Inc. $ICE

Focus Partners Advisor Solutions LLC acquired a new stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) in the second quarter, HoldingsChannel reports. The firm acquired 4,001 shares of the financial services provider’s stock, valued at approximately $493,000.

Other large investors have also recently made changes to their positions in the company. ABN AMRO Bank N.V. purchased a new position in Intercontinental Exchange during the 2nd quarter valued at approximately $4,947,000. GSA Capital Partners LLP bought a new stake in Intercontinental Exchange in the 2nd quarter worth approximately $1,203,000. Stoneridge Investment Partners LLC purchased a new stake in shares of Intercontinental Exchange during the 2nd quarter worth approximately $620,000. Avalon Trust Co bought a new position in shares of Intercontinental Exchange during the 2nd quarter valued at approximately $157,000. Finally, TFR Capital LLC. purchased a new position in shares of Intercontinental Exchange in the second quarter valued at $1,537,000. 89.30% of the stock is owned by institutional investors.

Intercontinental Exchange Stock Performance

NYSE ICE opened at $156.30 on Wednesday. The business’s 50 day moving average price is $141.20 and its 200-day moving average price is $151.86. Intercontinental Exchange Inc. has a fifty-two week low of $121.79 and a fifty-two week high of $181.72. The company has a market cap of $87.75 billion, a P/E ratio of 22.08, a P/E/G ratio of 1.52 and a beta of 0.92. 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 quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.84 by $0.06. The company had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $2.63 billion. Intercontinental Exchange had a return on equity of 14.95% and a net margin of 30.08%.Intercontinental Exchange’s revenue was up 4.8% on a year-over-year basis. During the same period last year, the company earned $1.81 earnings per share. Sell-side analysts predict that Intercontinental Exchange Inc. will post 8.11 earnings per share for the current year.

Insiders Place Their Bets

In related news, CTO Mayur Kapani sold 4,271 shares of the company’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $151.20, for a total transaction of $645,775.20. Following the transaction, the chief technology officer directly owned 67,988 shares in the company, valued at approximately $10,279,785.60. This represents a 5.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 4,573 shares of the stock in a transaction dated Tuesday, May 26th. The stock was 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 trade represents a 9.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 18,376 shares of company stock valued at $2,746,946. 0.84% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ICE. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $178.00 price target on shares of Intercontinental Exchange in a research report on Friday, July 31st. Piper Sandler dropped their price objective 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. Raymond James Financial set a $208.00 target price on shares of Intercontinental Exchange in a report on Monday, July 6th. UBS Group restated a “buy” rating and set a $195.00 target price (up from $190.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. Finally, TD Cowen reaffirmed a “buy” rating and issued a $177.00 price target (up from $159.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $183.33.

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.