Brown Brothers Harriman & Co. Increases Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Brown Brothers Harriman & Co. increased its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 11.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,962 shares of the financial services provider’s stock after purchasing an additional 4,260 shares during the period. Brown Brothers Harriman & Co.’s holdings in Intercontinental Exchange were worth $6,741,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ICE. Silvercrest Asset Management Group LLC raised its stake in shares of Intercontinental Exchange by 7.8% in the first quarter. Silvercrest Asset Management Group LLC now owns 16,243 shares of the financial services provider’s stock valued at $2,232,000 after acquiring an additional 1,180 shares during the period. Janus Henderson Group PLC boosted its position in Intercontinental Exchange by 589.4% during the first quarter. Janus Henderson Group PLC now owns 804,507 shares of the financial services provider’s stock valued at $110,559,000 after purchasing an additional 687,817 shares in the last quarter. Dynasty Wealth Management LLC purchased a new position in shares of Intercontinental Exchange in the 1st quarter worth approximately $692,000. B. Riley Wealth Advisors Inc. increased its position in shares of Intercontinental Exchange by 61.0% during the first quarter. B. Riley Wealth Advisors Inc. now owns 8,082 shares of the financial services provider’s stock worth $1,111,000 after purchasing an additional 3,062 shares in the last quarter. Finally, California State Teachers Retirement System lifted its holdings in shares of Intercontinental Exchange by 0.9% during the 1st quarter. California State Teachers Retirement System now owns 924,227 shares of the financial services provider’s stock valued at $127,017,000 after purchasing an additional 7,802 shares during the last quarter. Institutional investors own 89.30% of the company’s stock.

Insider Transactions at Intercontinental Exchange

In other news, General Counsel Andrew J. Surdykowski sold 2,048 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $159.57, for a total value of $326,799.36. Following the sale, the general counsel now directly owns 44,865 shares of the company’s stock, valued at $7,159,108.05. The trade was a 4.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Stuart Glen Williams sold 468 shares of the stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total value of $76,195.08. Following the completion of the transaction, the chief operating officer now directly owns 13,530 shares of the company’s stock, valued at approximately $2,202,819.30. This represents a 3.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,868 shares of company stock valued at $622,079 over the last 90 days. Corporate insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

ICE has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their price target on Intercontinental Exchange from $171.00 to $188.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. The Goldman Sachs Group boosted their target price on shares of Intercontinental Exchange from $171.00 to $185.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Barclays decreased their price target on shares of Intercontinental Exchange from $179.00 to $173.00 and set an “overweight” rating for the company in a report on Friday, November 1st. Piper Sandler boosted their price objective on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Finally, Bank of America raised their target price on Intercontinental Exchange from $168.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $174.13.

Intercontinental Exchange Stock Performance

Shares of ICE stock opened at $159.60 on Tuesday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.68. Intercontinental Exchange, Inc. has a 12-month low of $111.82 and a 12-month high of $167.99. The business’s 50 day moving average is $160.59 and its two-hundred day moving average is $151.34. The company has a market capitalization of $91.64 billion, a P/E ratio of 37.82, a P/E/G ratio of 2.63 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.55. The firm had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.35 billion. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The business’s revenue was up 17.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.46 EPS. Analysts expect that Intercontinental Exchange, Inc. will post 6.07 EPS for the current fiscal year.

About Intercontinental Exchange

Intercontinental Exchange, Inc, together with its subsidiaries, engages in the provision of market infrastructure, data services, and technology solutions for financial institutions, corporations, and government entities in the United States, the United Kingdom, the European Union, Singapore, India, Abu Dhabi, Israel, and Canada.