Trillium Asset Management LLC Acquires New Stake in Intercontinental Exchange Inc. $ICE

Trillium Asset Management LLC acquired a new stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) during the second quarter, Holdings Channel reports. The firm acquired 200,498 shares of the financial services provider’s stock, valued at approximately $24,684,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ares Financial Consulting LLC bought a new position in Intercontinental Exchange during the 4th quarter valued at $25,000. Brooklands Fund Management Ltd bought a new stake in shares of Intercontinental Exchange in the 4th quarter worth $28,000. Swiss RE Ltd. bought a new stake in shares of Intercontinental Exchange in the 4th quarter worth $28,000. Lloyd Advisory Services LLC. acquired a new stake in shares of Intercontinental Exchange in the fourth quarter valued at $30,000. Finally, Kemnay Advisory Services Inc. acquired a new stake in shares of Intercontinental Exchange in the fourth quarter valued at $37,000. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Trading Up 0.9%

Intercontinental Exchange stock opened at $158.68 on Friday. Intercontinental Exchange Inc. has a 52 week low of $121.79 and a 52 week high of $181.65. 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 firm has a market capitalization of $89.08 billion, a price-to-earnings ratio of 22.41, a P/E/G ratio of 1.55 and a beta of 0.92. The company has a 50 day moving average price of $141.92 and a 200 day moving average price of $151.63.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, July 30th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.06. The company had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $2.63 billion. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The company’s revenue was up 4.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.81 EPS. Research analysts forecast that Intercontinental Exchange Inc. will post 8.11 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ICE. Piper Sandler lowered their target price on Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating on the stock in a report on Wednesday, July 15th. Raymond James Financial set a $208.00 price target on shares of Intercontinental Exchange in a report on Monday, July 6th. The Goldman Sachs Group reduced their price objective on shares of Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. Weiss Ratings downgraded shares of Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. Finally, Morgan Stanley cut their target price on shares of Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating for the company in a research note on Friday, July 10th. One research 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 company’s stock. According to MarketBeat.com, Intercontinental Exchange currently has an average rating of “Moderate Buy” and a consensus target price of $183.33.

Insiders Place Their Bets

In related news, SVP Douglas Foley sold 7,300 shares of the company’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $148.88, for a total transaction of $1,086,824.00. Following the transaction, the senior vice president directly owned 19,063 shares of the company’s stock, valued at approximately $2,838,099.44. The trade was a 27.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 value of $693,083.88. Following the completion of the sale, the general counsel directly owned 45,473 shares of the company’s stock, valued at approximately $6,891,887.88. This represents a 9.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 17,709 shares of company stock worth $2,646,042. 0.84% of the stock is owned by corporate insiders.

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.