Corient Private Wealth LP Takes Position in Intercontinental Exchange Inc. $ICE

Corient Private Wealth LP acquired a new stake in Intercontinental Exchange Inc. (NYSE:ICE) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 426,413 shares of the financial services provider’s stock, valued at approximately $52,496,000.

A number of other large investors have also recently bought and sold shares of ICE. Ares Financial Consulting LLC bought a new position in Intercontinental Exchange during the fourth quarter valued at about $25,000. Rakuten Securities Inc. bought a new stake in shares of Intercontinental Exchange during the 2nd quarter worth about $26,000. Brooklands Fund Management Ltd bought a new stake in shares of Intercontinental Exchange during the 4th quarter worth about $28,000. Swiss RE Ltd. acquired a new position in shares of Intercontinental Exchange during the 4th quarter valued at about $28,000. Finally, Lloyd Advisory Services LLC. acquired a new position in shares of Intercontinental Exchange during the 4th quarter valued at about $30,000. 89.30% of the stock is currently owned by institutional investors.

Insider Activity at Intercontinental Exchange

In related news, SVP Douglas Foley sold 7,300 shares of the company’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $148.88, for a total transaction of $1,086,824.00. Following the completion of the transaction, the senior vice president directly owned 19,063 shares in the company, valued at $2,838,099.44. This represents a 27.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Warren Gardiner sold 2,491 shares of the stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $156.30, for a total transaction of $389,343.30. Following the completion of the sale, the chief financial officer directly owned 22,698 shares of the company’s stock, valued at approximately $3,547,697.40. This trade represents a 9.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 17,227 shares of company stock worth $2,598,301. 0.84% of the stock is owned by insiders.

Intercontinental Exchange Stock Performance

ICE opened at $161.19 on Friday. The firm has a market capitalization of $90.49 billion, a P/E ratio of 22.77, a price-to-earnings-growth ratio of 1.57 and a beta of 0.92. The stock’s 50 day moving average price is $144.32 and its two-hundred day moving average price is $151.43. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63. Intercontinental Exchange Inc. has a 12-month low of $121.79 and a 12-month high of $177.76.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.90 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $2.63 billion. During the same period in the previous year, the company earned $1.81 earnings per share. The company’s quarterly revenue was up 4.8% compared to the same quarter last year. On average, equities analysts forecast that Intercontinental Exchange Inc. will post 8.1 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on ICE shares. Piper Sandler reduced their target price on Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating for the company in a report on Wednesday, July 15th. Rothschild & Co Redburn set a $177.00 price target on Intercontinental Exchange in a report on Thursday, June 11th. Weiss Ratings upgraded shares of Intercontinental Exchange from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday. TD Cowen reaffirmed a “buy” rating and set a $177.00 price objective (up from $159.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. Finally, Raymond James Financial set a $208.00 target price on shares of Intercontinental Exchange in a research note on Monday, July 6th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $183.33.

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.