Hsbc Holdings PLC Purchases 125,601 Shares of Intercontinental Exchange Inc. $ICE

Hsbc Holdings PLC raised its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 7.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,735,277 shares of the financial services provider’s stock after buying an additional 125,601 shares during the quarter. Hsbc Holdings PLC’s holdings in Intercontinental Exchange were worth $281,587,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in ICE. Brighton Jones LLC raised its stake in Intercontinental Exchange by 51.3% during the fourth quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider’s stock valued at $514,000 after purchasing an additional 1,169 shares in the last quarter. Empowered Funds LLC lifted its position in Intercontinental Exchange by 9.0% during the first quarter. Empowered Funds LLC now owns 14,396 shares of the financial services provider’s stock valued at $2,483,000 after purchasing an additional 1,189 shares during the last quarter. Sivia Capital Partners LLC grew its stake in shares of Intercontinental Exchange by 16.2% in the 2nd quarter. Sivia Capital Partners LLC now owns 2,078 shares of the financial services provider’s stock worth $381,000 after buying an additional 289 shares in the last quarter. NewEdge Advisors LLC grew its stake in shares of Intercontinental Exchange by 27.9% in the 2nd quarter. NewEdge Advisors LLC now owns 21,213 shares of the financial services provider’s stock worth $3,892,000 after buying an additional 4,628 shares in the last quarter. Finally, Treasurer of the State of North Carolina increased its holdings in shares of Intercontinental Exchange by 2.4% in the 2nd quarter. Treasurer of the State of North Carolina now owns 266,496 shares of the financial services provider’s stock worth $48,894,000 after buying an additional 6,373 shares during the last quarter. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Performance

Shares of NYSE:ICE opened at $133.76 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63. Intercontinental Exchange Inc. has a 12 month low of $132.84 and a 12 month high of $189.35. The company has a market capitalization of $75.64 billion, a price-to-earnings ratio of 19.47, a PEG ratio of 1.28 and a beta of 0.92. The firm’s 50-day moving average is $151.34 and its 200 day moving average is $158.60.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, April 30th. The financial services provider reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.23 by $0.12. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The business had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $2.88 billion. During the same quarter last year, the firm earned $1.72 earnings per share. The firm’s quarterly revenue was up 20.4% compared to the same quarter last year. Research analysts predict that Intercontinental Exchange Inc. will post 8.16 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on ICE shares. Barclays restated an “overweight” rating and set a $201.00 target price (up from $198.00) on shares of Intercontinental Exchange in a research report on Friday, May 1st. Keefe, Bruyette & Woods assumed coverage on Intercontinental Exchange in a research note on Wednesday, April 8th. They set an “outperform” rating and a $190.00 price objective on the stock. Piper Sandler restated an “overweight” rating and set a $211.00 price objective (up from $195.00) on shares of Intercontinental Exchange in a research report on Wednesday, April 15th. Rothschild & Co Redburn set a $177.00 price objective on Intercontinental Exchange in a research note on Thursday, June 11th. Finally, Deutsche Bank Aktiengesellschaft upgraded Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 price target on the stock in a report on Friday, March 6th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $193.00.

Insider Activity

In related news, Director William Jefferson Hague sold 1,333 shares of the firm’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 completion of the sale, the director directly owned 20,132 shares of the company’s stock, valued at approximately $2,807,608.72. This trade represents a 6.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Warren Gardiner sold 2,490 shares of the business’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $156.64, for a total value of $390,033.60. Following the transaction, the chief financial officer owned 25,189 shares of the company’s stock, valued at approximately $3,945,604.96. The trade was a 9.00% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 13,425 shares of company stock valued at $2,046,324. 0.84% of the stock is currently owned by corporate insiders.

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.