Intercontinental Exchange Inc. $ICE Stake Boosted by R Squared Ltd

R Squared Ltd boosted its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 292.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,643 shares of the financial services provider’s stock after buying an additional 4,951 shares during the period. Intercontinental Exchange comprises 0.6% of R Squared Ltd’s investment portfolio, making the stock its 23rd largest holding. R Squared Ltd’s holdings in Intercontinental Exchange were worth $1,045,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. ICONIQ Capital LLC lifted its stake in shares of Intercontinental Exchange by 2.2% in the 2nd quarter. ICONIQ Capital LLC now owns 2,621 shares of the financial services provider’s stock valued at $481,000 after purchasing an additional 56 shares during the last quarter. Mechanics Financial Corp increased its position in Intercontinental Exchange by 1.0% during the fourth quarter. Mechanics Financial Corp now owns 6,138 shares of the financial services provider’s stock worth $994,000 after buying an additional 60 shares during the last quarter. Mission Wealth Management LP boosted its stake in shares of Intercontinental Exchange by 2.4% during the 4th quarter. Mission Wealth Management LP now owns 2,611 shares of the financial services provider’s stock worth $423,000 after acquiring an additional 62 shares in the last quarter. Aaron Wealth Advisors LLC boosted its stake in shares of Intercontinental Exchange by 1.9% during the 4th quarter. Aaron Wealth Advisors LLC now owns 3,384 shares of the financial services provider’s stock worth $548,000 after acquiring an additional 63 shares in the last quarter. Finally, Evergreen Capital Management LLC increased its holdings in shares of Intercontinental Exchange by 1.5% during the 4th quarter. Evergreen Capital Management LLC now owns 4,207 shares of the financial services provider’s stock valued at $681,000 after acquiring an additional 63 shares during the last quarter. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Intercontinental Exchange Stock Performance

Shares of Intercontinental Exchange stock traded up $2.78 during trading on Tuesday, reaching $137.69. The company’s stock had a trading volume of 1,546,985 shares, compared to its average volume of 3,990,811. Intercontinental Exchange Inc. has a one year low of $121.79 and a one year high of $189.35. 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 firm has a market cap of $77.86 billion, a price-to-earnings ratio of 20.05, a price-to-earnings-growth ratio of 1.24 and a beta of 0.94. The business’s fifty day moving average price is $144.62 and its 200-day moving average price is $156.42.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share for the quarter, beating the consensus estimate of $2.23 by $0.12. The firm had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $2.88 billion. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The firm’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.72 EPS. As a group, equities research analysts predict that Intercontinental Exchange Inc. will post 8.37 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently weighed in on ICE. Piper Sandler reissued an “overweight” rating and issued a $211.00 price objective (up from $195.00) on shares of Intercontinental Exchange in a research note on Wednesday, April 15th. The Goldman Sachs Group decreased their target price on Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. Raymond James Financial set a $208.00 price target on Intercontinental Exchange in a report on Monday. TD Cowen dropped their price target on shares of Intercontinental Exchange from $193.00 to $153.00 and set a “buy” rating on the stock in a research report on Monday, June 22nd. Finally, Rothschild & Co Redburn set a $177.00 price objective on shares of Intercontinental Exchange in a research note on Thursday, June 11th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Intercontinental Exchange has a consensus rating of “Moderate Buy” and an average target price of $187.08.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 4,573 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $151.56, for a total value of $693,083.88. Following the completion of the transaction, the general counsel owned 45,473 shares of the company’s stock, valued at $6,891,887.88. This represents a 9.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Warren Gardiner sold 2,490 shares of the firm’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $156.64, for a total value of $390,033.60. Following the completion of the sale, the chief financial officer owned 25,189 shares of the company’s stock, valued at $3,945,604.96. This represents a 9.00% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 13,425 shares of company stock worth $2,046,324. 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.