Element Capital Management LLC Invests $1.13 Million in Intercontinental Exchange Inc. $ICE

Element Capital Management LLC bought a new position in Intercontinental Exchange Inc. (NYSE:ICE) in the 4th quarter, Holdings Channel.com reports. The fund bought 6,993 shares of the financial services provider’s stock, valued at approximately $1,133,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Ares Financial Consulting LLC bought a new stake in shares of Intercontinental Exchange in the 4th quarter worth about $25,000. Brooklands Fund Management Ltd bought a new stake in shares of Intercontinental Exchange in the 4th quarter worth about $28,000. Dorato Capital Management bought a new stake in shares of Intercontinental Exchange in the 4th quarter worth about $29,000. Swiss RE Ltd. bought a new stake in shares of Intercontinental Exchange in the 4th quarter worth about $28,000. Finally, Steph & Co. increased its position in shares of Intercontinental Exchange by 104.7% in the 4th quarter. Steph & Co. now owns 174 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 89 shares during the last quarter. Institutional investors own 89.30% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on ICE shares. Rothschild & Co Redburn set a $177.00 target price on shares of Intercontinental Exchange in a research report on Thursday, June 11th. Piper Sandler reaffirmed an “overweight” rating and issued a $211.00 price target (up from $195.00) on shares of Intercontinental Exchange in a report on Wednesday, April 15th. Morgan Stanley lifted their price target on shares of Intercontinental Exchange from $183.00 to $187.00 and gave the company an “equal weight” rating in a report on Friday, April 10th. Keefe, Bruyette & Woods assumed coverage on shares of Intercontinental Exchange in a report on Wednesday, April 8th. They issued an “outperform” rating and a $190.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft raised shares of Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 price target for the company in a report on Friday, March 6th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $193.00.

Insider Activity

In other Intercontinental Exchange news, Director Sharon Bowen sold 667 shares of the business’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $151.28, for a total transaction of $100,903.76. Following the completion of the transaction, the director directly owned 15,077 shares of the company’s stock, valued at $2,280,848.56. The trade was a 4.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director William Jefferson Hague sold 1,333 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $139.46, for a total transaction of $185,900.18. Following the completion of the sale, the director directly owned 20,132 shares of the company’s stock, valued at approximately $2,807,608.72. This represents a 6.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 13,425 shares of company stock worth $2,046,324 over the last three months. Insiders own 0.84% of the company’s stock.

Intercontinental Exchange Trading Down 4.9%

Intercontinental Exchange stock opened at $134.41 on Thursday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63. The firm has a 50-day moving average price of $152.67 and a two-hundred day moving average price of $158.94. The firm has a market capitalization of $76.01 billion, a price-to-earnings ratio of 19.56, a PEG ratio of 1.35 and a beta of 0.92. Intercontinental Exchange Inc. has a 52-week low of $133.73 and a 52-week high of $189.35.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.23 by $0.12. The firm had revenue of $3.67 billion during the quarter, compared to analyst estimates of $2.88 billion. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. Intercontinental Exchange’s revenue was up 20.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.72 EPS. Sell-side analysts expect that Intercontinental Exchange Inc. will post 8.16 earnings per share for the current year.

Intercontinental Exchange 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.