Wellington Management Group LLP Acquires 1,634,385 Shares of Intercontinental Exchange Inc. $ICE

Wellington Management Group LLP raised its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 16.1% in the second quarter, Holdings Channel reports. The institutional investor owned 11,812,273 shares of the financial services provider’s stock after acquiring an additional 1,634,385 shares during the period. Wellington Management Group LLP’s holdings in Intercontinental Exchange were worth $1,454,209,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Lombard Odier Asset Management Europe Ltd purchased a new stake in shares of Intercontinental Exchange in the 2nd quarter worth $9,628,000. Kingsview Wealth Management LLC purchased a new position in Intercontinental Exchange during the second quarter valued at $1,315,000. Beacon Pointe Advisors LLC bought a new stake in Intercontinental Exchange during the second quarter valued at about $1,276,000. Pin Oak Investment Advisors Inc. bought a new position in shares of Intercontinental Exchange in the second quarter worth about $75,000. Finally, Livforsakringsbolaget Skandia Omsesidigt purchased a new position in shares of Intercontinental Exchange during the 2nd quarter valued at about $418,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Wall Street Analysts Forecast Growth

ICE has been the subject of a number of recent research reports. Rothschild & Co Redburn set a $177.00 price objective on Intercontinental Exchange in a research note on Thursday, June 11th. Raymond James Financial set a $208.00 price target on shares of Intercontinental Exchange in a report on Monday, July 6th. TD Cowen reiterated a “buy” rating and issued a $177.00 price target (up from $159.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. Weiss Ratings raised shares of Intercontinental Exchange from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday. Finally, Piper Sandler decreased their price objective on shares of Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $183.33.

Intercontinental Exchange Stock Performance

NYSE ICE opened at $162.46 on Friday. 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 $121.79 and a twelve month high of $177.76. The business has a 50-day moving average price of $144.90 and a 200-day moving average price of $151.50. The firm has a market cap of $91.20 billion, a price-to-earnings ratio of 22.95, a price-to-earnings-growth ratio of 1.57 and a beta of 0.92.

Intercontinental Exchange (NYSE:ICE) last issued 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. Intercontinental Exchange had a return on equity of 14.95% and a net margin of 30.08%.The company had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $2.63 billion. During the same quarter last year, the company earned $1.81 EPS. The firm’s quarterly revenue was up 4.8% on a year-over-year basis. As a group, equities research analysts predict that Intercontinental Exchange Inc. will post 8.1 EPS for the current fiscal year.

Insider Buying and Selling at Intercontinental Exchange

In related news, Director Martha A. Tirinnanzi sold 1,340 shares of the company’s stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $161.16, for a total transaction of $215,954.40. Following the completion of the transaction, the director owned 3,747 shares in the company, valued at approximately $603,866.52. This represents a 26.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 4,574 shares of the firm’s stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $161.77, for a total transaction of $739,935.98. Following the transaction, the general counsel directly owned 43,065 shares of the company’s stock, valued at $6,966,625.05. The trade was a 9.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 23,141 shares of company stock worth $3,554,192. Insiders own 0.84% of the company’s stock.

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.