Intercontinental Exchange, Inc. (NYSE:ICE) Shares Purchased by Novare Capital Management LLC

Novare Capital Management LLC grew its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 0.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 67,753 shares of the financial services provider’s stock after purchasing an additional 360 shares during the period. Novare Capital Management LLC’s holdings in Intercontinental Exchange were worth $10,096,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. State Street Corp boosted its position in Intercontinental Exchange by 1.2% in the 3rd quarter. State Street Corp now owns 23,651,598 shares of the financial services provider’s stock valued at $3,799,393,000 after buying an additional 281,503 shares during the period. Geode Capital Management LLC increased its stake in shares of Intercontinental Exchange by 1.5% during the third quarter. Geode Capital Management LLC now owns 11,555,615 shares of the financial services provider’s stock worth $1,848,868,000 after buying an additional 169,922 shares during the period. FMR LLC raised its holdings in shares of Intercontinental Exchange by 44.1% in the 3rd quarter. FMR LLC now owns 7,846,421 shares of the financial services provider’s stock valued at $1,260,449,000 after purchasing an additional 2,401,630 shares in the last quarter. Parnassus Investments LLC increased its holdings in Intercontinental Exchange by 4.0% in the third quarter. Parnassus Investments LLC now owns 7,838,727 shares of the financial services provider’s stock valued at $1,259,213,000 after buying an additional 299,037 shares during the last quarter. Finally, Franklin Resources Inc. raised its stake in Intercontinental Exchange by 8.0% in the third quarter. Franklin Resources Inc. now owns 5,265,020 shares of the financial services provider’s stock valued at $865,455,000 after buying an additional 390,332 shares in the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ICE. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 price objective on shares of Intercontinental Exchange in a report on Tuesday, January 7th. Morgan Stanley lifted their price target on shares of Intercontinental Exchange from $160.00 to $174.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Piper Sandler raised their price target on Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Raymond James downgraded Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 price objective for the company. in a report on Monday, October 14th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Intercontinental Exchange from $160.00 to $163.00 and gave the company a “hold” rating in a report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, Intercontinental Exchange currently has a consensus rating of “Moderate Buy” and a consensus price target of $175.27.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, CTO Mayur Kapani sold 5,661 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $147.59, for a total transaction of $835,506.99. Following the transaction, the chief technology officer now owns 66,548 shares of the company’s stock, valued at $9,821,819.32. This represents a 7.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, President Benjamin Jackson sold 5,828 shares of Intercontinental Exchange stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $160.00, for a total value of $932,480.00. Following the completion of the sale, the president now owns 156,163 shares of the company’s stock, valued at $24,986,080. This trade represents a 3.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 13,795 shares of company stock valued at $2,120,572 over the last three months. 1.10% of the stock is currently owned by insiders.

Intercontinental Exchange Price Performance

ICE stock opened at $157.52 on Friday. Intercontinental Exchange, Inc. has a 12-month low of $124.34 and a 12-month high of $167.99. The company has a market cap of $90.45 billion, a price-to-earnings ratio of 37.33, a PEG ratio of 2.95 and a beta of 1.10. The firm has a 50 day moving average of $152.98 and a 200-day moving average of $155.98. 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 (NYSE:ICE) last issued its quarterly earnings data on Thursday, October 31st. The financial services provider reported $1.55 EPS for the quarter, meeting analysts’ consensus estimates of $1.55. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The firm had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.35 billion. During the same period in the prior year, the company earned $1.46 EPS. The firm’s revenue was up 17.3% on a year-over-year basis. As a group, equities analysts expect that Intercontinental Exchange, Inc. will post 6.05 EPS for the current fiscal year.

Intercontinental Exchange Company Profile

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.