Lmcg Investments LLC Takes $3.10 Million Position in Intercontinental Exchange Inc. $ICE

Lmcg Investments LLC bought a new stake in Intercontinental Exchange Inc. (NYSE:ICE) during the 4th quarter, HoldingsChannel reports. The fund bought 19,125 shares of the financial services provider’s stock, valued at approximately $3,097,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wellington Management Group LLP boosted its holdings in Intercontinental Exchange by 64.7% during the third quarter. Wellington Management Group LLP now owns 10,354,224 shares of the financial services provider’s stock worth $1,744,480,000 after buying an additional 4,067,922 shares in the last quarter. Mawer Investment Management Ltd. boosted its holdings in Intercontinental Exchange by 179.1% during the third quarter. Mawer Investment Management Ltd. now owns 2,472,366 shares of the financial services provider’s stock worth $416,544,000 after buying an additional 1,586,620 shares in the last quarter. Waverton Investment Management Ltd boosted its holdings in Intercontinental Exchange by 28,886.8% during the third quarter. Waverton Investment Management Ltd now owns 1,526,734 shares of the financial services provider’s stock worth $257,163,000 after buying an additional 1,521,467 shares in the last quarter. Swedbank AB boosted its holdings in Intercontinental Exchange by 43.3% during the fourth quarter. Swedbank AB now owns 3,527,115 shares of the financial services provider’s stock worth $571,252,000 after buying an additional 1,064,967 shares in the last quarter. Finally, Capital World Investors boosted its holdings in Intercontinental Exchange by 15.2% during the third quarter. Capital World Investors now owns 7,028,964 shares of the financial services provider’s stock worth $1,184,238,000 after buying an additional 928,047 shares in the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Performance

Shares of ICE opened at $153.57 on Thursday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market capitalization of $86.84 billion, a price-to-earnings ratio of 22.35, a PEG ratio of 1.43 and a beta of 0.96. The company’s 50 day simple moving average is $160.23 and its 200 day simple moving average is $159.99. Intercontinental Exchange Inc. has a 1 year low of $143.17 and a 1 year high of $189.35.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, April 30th. The financial services provider reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.23 by $0.12. The business had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $2.88 billion. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The company’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.72 earnings per share. On average, sell-side analysts predict that Intercontinental Exchange Inc. will post 8.16 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. TD Cowen restated a “buy” rating on shares of Intercontinental Exchange in a research report on Friday, February 6th. Piper Sandler restated an “overweight” rating and set a $211.00 target price (up from $195.00) on shares of Intercontinental Exchange in a research report on Wednesday, April 15th. UBS Group restated a “buy” rating and set a $200.00 target price on shares of Intercontinental Exchange in a research report on Monday, February 9th. Keefe, Bruyette & Woods assumed coverage on shares of Intercontinental Exchange in a research report on Wednesday, April 8th. They set an “outperform” rating and a $190.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 target price for the company in a research report on Friday, March 6th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, Intercontinental Exchange presently has an average rating of “Buy” and a consensus price target of $194.10.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, CTO Mayur Kapani sold 15,213 shares of the stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $155.02, for a total transaction of $2,358,319.26. Following the transaction, the chief technology officer owned 64,869 shares of the company’s stock, valued at $10,055,992.38. This trade represents a 19.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Christopher Scott Edmonds sold 11,303 shares of the stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $153.82, for a total transaction of $1,738,627.46. Following the transaction, the insider directly owned 14,266 shares in the company, valued at approximately $2,194,396.12. This represents a 44.21% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 343,696 shares of company stock valued at $53,397,715 over the last 90 days. 0.84% of the stock is currently owned by insiders.

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.