Cibc World Market Inc. Acquires 106,378 Shares of Intercontinental Exchange Inc. $ICE

Cibc World Market Inc. raised its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 152.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 176,335 shares of the financial services provider’s stock after purchasing an additional 106,378 shares during the quarter. Cibc World Market Inc.’s holdings in Intercontinental Exchange were worth $28,559,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in ICE. Ares Financial Consulting LLC purchased a new stake in shares of Intercontinental Exchange during the 4th quarter valued at about $25,000. Holos Integrated Wealth LLC purchased a new position in Intercontinental Exchange in the fourth quarter worth about $28,000. Steph & Co. grew its position in Intercontinental Exchange by 104.7% in 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 in the last quarter. Dorato Capital Management bought a new stake in Intercontinental Exchange during the fourth quarter worth approximately $29,000. Finally, Lloyd Advisory Services LLC. bought a new stake in Intercontinental Exchange during the fourth quarter worth approximately $30,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Intercontinental Exchange

In related 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 value of $100,903.76. Following the completion of the sale, the director owned 15,077 shares in the company, valued at approximately $2,280,848.56. The trade was a 4.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Mayur Kapani sold 4,271 shares of the firm’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $155.42, for a total value of $663,798.82. Following the transaction, the chief technology officer owned 64,869 shares in the company, valued at $10,081,939.98. The trade was a 6.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 12,001 shares of company stock valued at $1,847,820 over the last 90 days. 0.84% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ICE. Deutsche Bank Aktiengesellschaft raised Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 price objective for the company in a research note on Friday, March 6th. Barclays restated an “overweight” rating and set a $201.00 price target (up from $198.00) on shares of Intercontinental Exchange in a report on Friday, May 1st. Morgan Stanley lifted their price objective on shares of Intercontinental Exchange from $183.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Friday, April 10th. UBS Group reiterated a “buy” rating and set a $205.00 price objective on shares of Intercontinental Exchange in a research report on Wednesday, May 20th. Finally, Piper Sandler reissued an “overweight” rating and issued a $211.00 target price (up from $195.00) on shares of Intercontinental Exchange in a research note on Wednesday, April 15th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $194.60.

Intercontinental Exchange Stock Up 2.4%

Shares of ICE opened at $141.72 on Friday. The firm has a fifty day moving average price of $156.14 and a 200-day moving average price of $159.84. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $80.15 billion, a P/E ratio of 20.63, a P/E/G ratio of 1.33 and a beta of 0.92. Intercontinental Exchange Inc. has a 12-month low of $136.67 and a 12-month high of $189.35.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, April 30th. The financial services provider reported $2.35 EPS for the quarter, topping the consensus estimate of $2.23 by $0.12. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The company had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $2.88 billion. During the same quarter last year, the firm posted $1.72 EPS. The firm’s revenue was up 20.4% compared to the same quarter last year. Equities research analysts expect that Intercontinental Exchange Inc. will post 8.16 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.