Mystic Asset Management Inc. Takes Position in Intercontinental Exchange Inc. $ICE

Mystic Asset Management Inc. bought a new position in Intercontinental Exchange Inc. (NYSE:ICE) during the 2nd quarter, Holdings Channel reports. The firm bought 10,688 shares of the financial services provider’s stock, valued at approximately $1,316,000.

A number of other large investors have also bought and sold shares of the business. J. Stern & Co. LLP raised its position in Intercontinental Exchange by 17,398.1% in the 4th quarter. J. Stern & Co. LLP now owns 54,107,273 shares of the financial services provider’s stock valued at $8,763,214,000 after purchasing an additional 53,798,055 shares during the last quarter. BlackRock Inc. bought a new stake in shares of Intercontinental Exchange during the second quarter worth $6,245,085,000. Norges Bank acquired a new stake in shares of Intercontinental Exchange in the fourth quarter valued at $1,418,228,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Intercontinental Exchange in the second quarter valued at about $714,869,000. Finally, Flossbach Von Storch SE bought a new position in shares of Intercontinental Exchange in the second quarter valued at about $649,900,000. 89.30% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director William Jefferson Hague sold 1,333 shares of the business’s stock in a transaction dated 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 transaction, the director directly owned 20,132 shares in the company, valued at approximately $2,807,608.72. The trade was a 6.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Douglas Foley sold 7,300 shares of the stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $148.88, for a total transaction of $1,086,824.00. Following the completion of the sale, the senior vice president owned 19,063 shares in the company, valued at approximately $2,838,099.44. This trade represents a 27.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 17,709 shares of company stock worth $2,646,042. Corporate insiders own 0.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on ICE shares. Morgan Stanley decreased their price objective on shares of Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating on the stock in a report on Friday, July 10th. Piper Sandler reduced their target price on shares of Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 15th. The Goldman Sachs Group decreased their price target on shares of Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $178.00 price target on shares of Intercontinental Exchange in a report on Friday, July 31st. Finally, Barclays reiterated an “overweight” rating and issued a $182.00 price objective (up from $180.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $183.33.

Intercontinental Exchange Price Performance

ICE opened at $158.68 on Friday. The company has a fifty day moving average price of $141.92 and a two-hundred day moving average price of $151.63. The firm has a market capitalization of $89.08 billion, a PE ratio of 22.41, a P/E/G ratio of 1.55 and a beta of 0.92. Intercontinental Exchange Inc. has a 52 week low of $121.79 and a 52 week high of $181.65. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.84 by $0.06. Intercontinental Exchange had a return on equity of 14.95% and a net margin of 30.08%.The company had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $2.63 billion. During the same quarter in the prior year, the business posted $1.81 EPS. The firm’s quarterly revenue was up 4.8% on a year-over-year basis. As a group, analysts anticipate that Intercontinental Exchange Inc. will post 8.11 earnings per share for the current year.

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.