Reinhart Partners LLC. Has $5.33 Million Stock Holdings in Intercontinental Exchange Inc. $ICE

Reinhart Partners LLC. increased its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 16.4% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 43,336 shares of the financial services provider’s stock after purchasing an additional 6,108 shares during the quarter. Reinhart Partners LLC.’s holdings in Intercontinental Exchange were worth $5,335,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of ICE. Ares Financial Consulting LLC bought a new stake in shares of Intercontinental Exchange during the fourth quarter worth $25,000. Steph & Co. raised its holdings in shares of Intercontinental Exchange by 104.7% during the fourth quarter. Steph & Co. now owns 174 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 89 shares during the period. Brooklands Fund Management Ltd bought a new stake in Intercontinental Exchange in the 4th quarter valued at $28,000. Swiss RE Ltd. acquired a new position in Intercontinental Exchange in the 4th quarter worth $28,000. Finally, Lloyd Advisory Services LLC. acquired a new position in Intercontinental Exchange in the 4th quarter worth $30,000. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Intercontinental Exchange Trading Up 0.4%

Shares of NYSE:ICE opened at $150.35 on Friday. The company’s 50-day moving average price is $139.52 and its two-hundred day moving average price is $152.97. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01. Intercontinental Exchange Inc. has a one year low of $121.79 and a one year high of $189.35. The stock has a market capitalization of $84.40 billion, a PE ratio of 21.24, a price-to-earnings-growth ratio of 1.48 and a beta of 0.92.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.06. The company had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $2.63 billion. Intercontinental Exchange had a return on equity of 14.95% and a net margin of 30.08%.Intercontinental Exchange’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.81 EPS. On average, equities analysts forecast that Intercontinental Exchange Inc. will post 8.08 EPS for the current fiscal year.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, Director Sharon Bowen sold 667 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $151.28, for a total transaction of $100,903.76. Following the transaction, the director 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 Securities & Exchange Commission, which is available through this link. Also, SVP Douglas Foley sold 7,300 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $148.88, for a total value of $1,086,824.00. Following the sale, the senior vice president owned 19,063 shares in the company, valued at approximately $2,838,099.44. This represents a 27.69% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 20,725 shares of company stock valued at $3,133,148 in the last ninety days. Insiders own 0.84% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on ICE. The Goldman Sachs Group dropped their price target on Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. Morgan Stanley reduced their price objective on Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating for the company in a research report on Friday, July 10th. Rothschild & Co Redburn set a $177.00 price objective on Intercontinental Exchange in a report on Thursday, June 11th. Piper Sandler dropped their target price on Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 15th. Finally, Raymond James Financial set a $208.00 target price on Intercontinental Exchange in a research note on Monday, July 6th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $183.33.

About Intercontinental Exchange

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.