Intercontinental Exchange Inc. $ICE is Tandem Investment Advisors Inc.’s 3rd Largest Position

Tandem Investment Advisors Inc. lifted its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 4.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 847,518 shares of the financial services provider’s stock after buying an additional 39,234 shares during the quarter. Intercontinental Exchange makes up approximately 4.9% of Tandem Investment Advisors Inc.’s portfolio, making the stock its 3rd biggest position. Tandem Investment Advisors Inc.’s holdings in Intercontinental Exchange were worth $142,790,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Princeton Global Asset Management LLC acquired a new position in Intercontinental Exchange during the 2nd quarter worth approximately $28,000. Westside Investment Management Inc. purchased a new stake in shares of Intercontinental Exchange during the 2nd quarter worth $29,000. Private Wealth Management Group LLC lifted its position in shares of Intercontinental Exchange by 59.5% during the 3rd quarter. Private Wealth Management Group LLC now owns 177 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 66 shares during the last quarter. Hilltop National Bank acquired a new position in shares of Intercontinental Exchange during the second quarter worth $31,000. Finally, Knuff & Co LLC increased its holdings in Intercontinental Exchange by 73.3% in the second quarter. Knuff & Co LLC now owns 175 shares of the financial services provider’s stock valued at $32,000 after buying an additional 74 shares during the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Intercontinental Exchange Trading Up 1.5%

NYSE:ICE opened at $174.96 on Friday. The company has a market capitalization of $99.76 billion, a PE ratio of 31.87, a P/E/G ratio of 2.13 and a beta of 1.03. Intercontinental Exchange Inc. has a 52-week low of $143.17 and a 52-week high of $189.35. The stock’s 50 day moving average price is $163.64 and its 200 day moving average price is $167.03. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.61.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, October 30th. The financial services provider reported $1.71 earnings per share for the quarter, meeting the consensus estimate of $1.71. The business had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $2.49 billion. Intercontinental Exchange had a return on equity of 13.79% and a net margin of 25.24%.The company’s revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.55 earnings per share. On average, research analysts anticipate that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have issued reports on ICE. Piper Sandler reaffirmed an “overweight” rating and set a $195.00 price target (down from $202.00) on shares of Intercontinental Exchange in a report on Wednesday, January 14th. Keefe, Bruyette & Woods raised Intercontinental Exchange to a “moderate buy” rating in a research report on Monday, October 6th. UBS Group reaffirmed a “buy” rating on shares of Intercontinental Exchange in a report on Wednesday, January 7th. Raymond James Financial reiterated a “strong-buy” rating and issued a $211.00 price target on shares of Intercontinental Exchange in a research note on Tuesday, January 6th. Finally, Morgan Stanley set a $180.00 price objective on shares of Intercontinental Exchange and gave the stock an “equal weight” rating in a research report on Thursday, January 15th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Intercontinental Exchange has an average rating of “Buy” and a consensus target price of $193.50.

Insiders Place Their Bets

In other Intercontinental Exchange news, CEO Jeffrey C. Sprecher sold 150,000 shares of Intercontinental Exchange stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $153.08, for a total value of $22,962,000.00. Following the transaction, the chief executive officer directly owned 1,801,705 shares in the company, valued at approximately $275,805,001.40. The trade was a 7.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Judith A. Sprieser sold 3,700 shares of the company’s stock in a transaction dated Friday, December 5th. The shares were sold at an average price of $157.96, for a total transaction of $584,452.00. Following the completion of the sale, the director directly owned 14,469 shares of the company’s stock, valued at $2,285,523.24. The trade was a 20.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 166,068 shares of company stock worth $25,470,702. Corporate insiders own 1.00% of the company’s stock.

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.