Benson Investment Management Company Inc. Invests $5.17 Million in Intercontinental Exchange, Inc. (NYSE:ICE)

Benson Investment Management Company Inc. bought a new stake in Intercontinental Exchange, Inc. (NYSE:ICE) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 34,720 shares of the financial services provider’s stock, valued at approximately $5,174,000. Intercontinental Exchange accounts for about 2.1% of Benson Investment Management Company Inc.’s investment portfolio, making the stock its 21st biggest holding.

A number of other large investors have also added to or reduced their stakes in the company. Quintet Private Bank Europe S.A. boosted its position in Intercontinental Exchange by 13.8% in the 3rd quarter. Quintet Private Bank Europe S.A. now owns 511 shares of the financial services provider’s stock valued at $82,000 after buying an additional 62 shares during the last quarter. Raleigh Capital Management Inc. lifted its stake in shares of Intercontinental Exchange by 26.4% in the third quarter. Raleigh Capital Management Inc. now owns 302 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 63 shares in the last quarter. Integrated Advisors Network LLC boosted its holdings in Intercontinental Exchange by 4.0% in the third quarter. Integrated Advisors Network LLC now owns 1,714 shares of the financial services provider’s stock valued at $275,000 after purchasing an additional 66 shares during the last quarter. Catalyst Capital Advisors LLC grew its stake in Intercontinental Exchange by 6.2% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 1,197 shares of the financial services provider’s stock valued at $192,000 after purchasing an additional 70 shares in the last quarter. Finally, Catalina Capital Group LLC increased its holdings in Intercontinental Exchange by 3.9% during the 3rd quarter. Catalina Capital Group LLC now owns 1,867 shares of the financial services provider’s stock worth $300,000 after purchasing an additional 70 shares during the last quarter. 89.30% of the stock is owned by institutional investors and hedge funds.

Intercontinental Exchange Price Performance

Shares of ICE opened at $143.84 on Tuesday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.00 and a quick ratio of 1.00. The company has a market cap of $82.59 billion, a P/E ratio of 34.09, a PEG ratio of 2.57 and a beta of 1.10. Intercontinental Exchange, Inc. has a 12 month low of $124.34 and a 12 month high of $167.99. The stock has a fifty day moving average price of $153.88 and a 200 day moving average price of $155.47.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.55. The business had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.35 billion. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The company’s revenue for the quarter was up 17.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.46 EPS. On average, research analysts forecast that Intercontinental Exchange, Inc. will post 6.07 earnings per share for the current year.

Wall Street Analyst Weigh In

ICE has been the subject of several research analyst reports. Piper Sandler increased their target price on Intercontinental Exchange from $170.00 to $180.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. StockNews.com downgraded shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Wednesday, January 8th. Barclays dropped their target price on shares of Intercontinental Exchange from $187.00 to $179.00 and set an “overweight” rating for the company in a research report on Monday. TD Cowen started coverage on shares of Intercontinental Exchange in a research report on Thursday, September 26th. They set a “buy” rating and a $182.00 price target on the stock. Finally, The Goldman Sachs Group lifted their price target on Intercontinental Exchange from $171.00 to $185.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. One research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $175.20.

Insider Buying and Selling at Intercontinental Exchange

In related news, General Counsel Andrew J. Surdykowski sold 955 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $156.08, for a total value of $149,056.40. Following the completion of the sale, the general counsel now owns 44,702 shares of the company’s stock, valued at $6,977,088.16. This represents a 2.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, President Benjamin Jackson sold 5,828 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $160.00, for a total transaction of $932,480.00. Following the transaction, the president now directly owns 156,163 shares in the company, valued at approximately $24,986,080. The trade was a 3.60 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,533 shares of company stock worth $1,196,279. 1.10% of the stock is owned by company insiders.

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.