Focus Partners Wealth Has $358.14 Million Stock Position in Intercontinental Exchange Inc. $ICE

Focus Partners Wealth lifted its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 569.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 2,210,948 shares of the financial services provider’s stock after buying an additional 1,880,835 shares during the period. Focus Partners Wealth’s holdings in Intercontinental Exchange were worth $358,142,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Ares Financial Consulting LLC acquired a new stake in shares of Intercontinental Exchange during the 4th quarter worth $25,000. Dorato Capital Management acquired a new position in Intercontinental Exchange in the 4th quarter worth about $29,000. Swiss RE Ltd. acquired a new position in Intercontinental Exchange in the 4th quarter worth about $28,000. Steph & Co. increased its holdings in Intercontinental Exchange by 104.7% in the 4th quarter. Steph & Co. now owns 174 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 89 shares in the last quarter. Finally, Holos Integrated Wealth LLC acquired a new position in Intercontinental Exchange in the 4th quarter worth about $28,000. 89.30% of the stock is owned by institutional investors and hedge funds.

Intercontinental Exchange Stock Up 0.9%

Shares of NYSE:ICE opened at $140.26 on Friday. The business’s 50 day simple moving average is $154.22 and its two-hundred day simple moving average is $159.27. The firm has a market cap of $79.32 billion, a P/E ratio of 20.42, a PEG ratio of 1.35 and a beta of 0.92. 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 Inc. has a 52-week low of $136.67 and a 52-week high of $189.35.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.23 by $0.12. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The business had revenue of $3.67 billion for the quarter, compared to analyst estimates of $2.88 billion. During the same quarter in the prior year, the company earned $1.72 earnings per share. The company’s quarterly revenue was up 20.4% on a year-over-year basis. As a group, research analysts forecast that Intercontinental Exchange Inc. will post 8.16 EPS for the current fiscal year.

Insider Buying and Selling

In other news, General Counsel Andrew J. Surdykowski sold 4,573 shares of the firm’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 transaction, the general counsel owned 45,473 shares in the company, valued at $6,891,887.88. This trade represents a 9.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Mayur Kapani sold 4,271 shares of Intercontinental Exchange 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 sale, the chief technology officer owned 64,869 shares in the company, valued at $10,081,939.98. This trade represents 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 12,092 shares of company stock worth $1,860,424 over the last three months. Company insiders own 0.84% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on ICE. Rothschild & Co Redburn set a $177.00 price target on Intercontinental Exchange in a research note on Thursday. UBS Group reissued a “buy” rating and issued a $205.00 price target on shares of Intercontinental Exchange in a research note on Wednesday, May 20th. Morgan Stanley increased their price target on Intercontinental Exchange from $183.00 to $187.00 and gave the company an “equal weight” rating in a research note on Friday, April 10th. Keefe, Bruyette & Woods began coverage on Intercontinental Exchange in a research note on Wednesday, April 8th. They issued an “outperform” rating and a $190.00 price target for the company. Finally, Weiss Ratings cut Intercontinental Exchange from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, June 2nd. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $193.00.

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.