Cibc World Market Inc. Takes $1.35 Million Position in Intercontinental Exchange Inc. $ICE

Cibc World Market Inc. acquired a new position in Intercontinental Exchange Inc. (NYSE:ICE) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 11,009 shares of the financial services provider’s stock, valued at approximately $1,355,000.

Several other large investors have also bought and sold shares of ICE. Ares Financial Consulting LLC acquired a new stake in Intercontinental Exchange in the 4th quarter valued at about $25,000. Rakuten Securities Inc. purchased a new position in Intercontinental Exchange during the 2nd quarter worth approximately $26,000. Brooklands Fund Management Ltd purchased a new position in shares of Intercontinental Exchange during the fourth quarter valued at $28,000. Swiss RE Ltd. acquired a new position in shares of Intercontinental Exchange in the 4th quarter valued at about $28,000. Finally, Lloyd Advisory Services LLC. acquired a new position in Intercontinental Exchange in the 4th quarter valued at approximately $30,000. Institutional investors own 89.30% of the company’s stock.

Analyst Ratings Changes

ICE has been the subject of several recent research reports. Weiss Ratings upgraded Intercontinental Exchange from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday. Piper Sandler dropped their target price on Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 15th. Morgan Stanley cut their price target on 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. UBS Group reiterated a “buy” rating and set a $195.00 price target (up from $190.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. Finally, TD Cowen reissued a “buy” rating and issued a $177.00 price target (up from $159.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $183.33.

Insiders Place Their Bets

In other news, SVP Douglas Foley sold 1,600 shares of the company’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $160.00, for a total transaction of $256,000.00. Following the completion of the transaction, the senior vice president directly owned 17,463 shares in the company, valued at $2,794,080. The trade was a 8.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Mayur Kapani sold 4,271 shares of the stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $151.20, for a total value of $645,775.20. Following the completion of the sale, the chief technology officer directly owned 67,988 shares of the company’s stock, valued at $10,279,785.60. This represents a 5.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 17,227 shares of company stock worth $2,598,301 in the last 90 days. 0.84% of the stock is owned by company insiders.

Intercontinental Exchange Price Performance

Shares of Intercontinental Exchange stock opened at $161.19 on Friday. The stock has a market capitalization of $90.49 billion, a price-to-earnings ratio of 22.77, a PEG ratio of 1.57 and a beta of 0.92. 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 1-year low of $121.79 and a 1-year high of $177.76. The firm has a fifty day simple moving average of $144.32 and a 200-day simple moving average of $151.43.

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, 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 return on equity of 14.95% and a net margin of 30.08%.The firm’s revenue was up 4.8% compared to the same quarter last year. During the same period last year, the business posted $1.81 earnings per share. On average, sell-side analysts expect that Intercontinental Exchange Inc. will post 8.1 earnings per share for the current year.

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.