Intercontinental Exchange Inc. $ICE Stock Holdings Boosted by Horizon Kinetics Asset Management LLC

Horizon Kinetics Asset Management LLC increased its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 1.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 831,758 shares of the financial services provider’s stock after purchasing an additional 13,497 shares during the quarter. Intercontinental Exchange accounts for approximately 1.8% of Horizon Kinetics Asset Management LLC’s holdings, making the stock its 8th biggest position. Horizon Kinetics Asset Management LLC owned approximately 0.15% of Intercontinental Exchange worth $152,603,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Picton Mahoney Asset Management lifted its holdings in Intercontinental Exchange by 45.7% in the second quarter. Picton Mahoney Asset Management now owns 79,010 shares of the financial services provider’s stock valued at $14,499,000 after acquiring an additional 24,766 shares during the period. Summit Global Investments purchased a new stake in shares of Intercontinental Exchange in the second quarter valued at $5,527,000. Jefferies Financial Group Inc. boosted its stake in shares of Intercontinental Exchange by 84.7% during the 2nd quarter. Jefferies Financial Group Inc. now owns 4,373 shares of the financial services provider’s stock worth $802,000 after purchasing an additional 2,006 shares during the last quarter. Global Retirement Partners LLC purchased a new stake in Intercontinental Exchange in the 2nd quarter worth approximately $668,000. Finally, Waterloo Capital L.P. purchased a new position in Intercontinental Exchange during the second quarter worth about $297,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Performance

Shares of ICE stock opened at $154.57 on Monday. The stock’s fifty day simple moving average is $158.04 and its 200-day simple moving average is $171.99. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $88.13 billion, a price-to-earnings ratio of 29.67, a P/E/G ratio of 2.11 and a beta of 1.06. Intercontinental Exchange Inc. has a 1-year low of $142.29 and a 1-year high of $189.35.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, October 30th. The financial services provider reported $1.71 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.71. The business had revenue of $3.01 billion during the quarter, compared to analyst estimates of $2.49 billion. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.The firm’s revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.55 EPS. On average, sell-side analysts predict that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ICE has been the topic of several research reports. Keefe, Bruyette & Woods raised Intercontinental Exchange to a “moderate buy” rating in a research report on Monday, October 6th. Raymond James Financial raised shares of Intercontinental Exchange from an “outperform” rating to a “strong-buy” rating and set a $210.00 price objective for the company in a research report on Monday, October 13th. Wall Street Zen lowered shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. Barclays set a $183.00 price target on Intercontinental Exchange and gave the company an “overweight” rating in a report on Friday, October 31st. Finally, UBS Group cut their target price on shares of Intercontinental Exchange from $215.00 to $200.00 and set a “buy” rating on the stock in a report on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Intercontinental Exchange presently has a consensus rating of “Buy” and a consensus target price of $194.70.

Insider Activity at Intercontinental Exchange

In related news, SVP Douglas Foley sold 1,600 shares of the firm’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $175.62, for a total value of $280,992.00. Following the completion of the transaction, the senior vice president directly owned 25,796 shares of the company’s stock, valued at $4,530,293.52. This trade represents a 5.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 1,770 shares of the company’s stock in a transaction that occurred on Wednesday, November 19th. The shares were sold at an average price of $152.52, for a total value of $269,960.40. Following the completion of the sale, the general counsel owned 44,212 shares in the company, valued at approximately $6,743,214.24. This represents a 3.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 175,258 shares of company stock valued at $27,146,307. 1.00% of the stock is owned by corporate insiders.

About Intercontinental Exchange

Intercontinental Exchange, Inc, together with its subsidiaries, engages in the provision of market infrastructure, data services, and technology solutions for financial institutions, corporations, and government entities in the United States, the United Kingdom, the European Union, Singapore, India, Abu Dhabi, Israel, and Canada.