UNIVEST FINANCIAL Corp Purchases 3,546 Shares of Intercontinental Exchange Inc. $ICE

UNIVEST FINANCIAL Corp lifted its position in Intercontinental Exchange Inc. (NYSE:ICE) by 7.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 49,100 shares of the financial services provider’s stock after acquiring an additional 3,546 shares during the quarter. UNIVEST FINANCIAL Corp’s holdings in Intercontinental Exchange were worth $7,465,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. BlackRock Inc. bought a new position in Intercontinental Exchange during the 2nd quarter valued at about $6,245,085,000. State Street Corp lifted its stake in Intercontinental Exchange by 1.6% in the second quarter. State Street Corp now owns 25,966,680 shares of the financial services provider’s stock worth $3,196,758,000 after purchasing an additional 415,490 shares during the last quarter. Wellington Management Group LLP lifted its stake in Intercontinental Exchange by 16.1% in the second quarter. Wellington Management Group LLP now owns 11,812,273 shares of the financial services provider’s stock worth $1,454,209,000 after purchasing an additional 1,634,385 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Intercontinental Exchange in the second quarter worth about $714,869,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Intercontinental Exchange by 1.0% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,298,162 shares of the financial services provider’s stock valued at $652,257,000 after buying an additional 52,910 shares during the period. 89.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ICE. UBS Group reaffirmed a “buy” rating and set a $195.00 target price (up from $190.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. Keefe, Bruyette & Woods raised their price target on Intercontinental Exchange from $180.00 to $190.00 and gave the stock an “outperform” rating in a research note on Friday, October 30th. Wells Fargo & Company boosted their price objective on Intercontinental Exchange from $160.00 to $167.00 and gave the company an “underweight” rating in a report on Friday, October 30th. Piper Sandler reaffirmed an “overweight” rating and issued a $195.00 price objective (up from $190.00) on shares of Intercontinental Exchange in a research report on Friday, October 2nd. Finally, Jefferies Financial Group reduced their target price on Intercontinental Exchange from $189.00 to $185.00 in a research note on Wednesday, October 7th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $189.25.

Intercontinental Exchange Price Performance

Intercontinental Exchange stock opened at $180.45 on Thursday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a market cap of $100.84 billion, a price-to-earnings ratio of 24.62, a price-to-earnings-growth ratio of 1.55 and a beta of 0.84. The firm has a 50-day moving average of $159.63 and a two-hundred day moving average of $154.70. Intercontinental Exchange Inc. has a 1 year low of $121.79 and a 1 year high of $180.71.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, October 29th. The financial services provider reported $2.02 earnings per share for the quarter, beating the consensus estimate of $1.97 by $0.05. The firm had revenue of $3.63 billion during the quarter, compared to the consensus estimate of $2.74 billion. Intercontinental Exchange had a net margin of 29.62% and a return on equity of 15.32%. The company’s revenue was up 14.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.71 earnings per share. On average, research analysts forecast that Intercontinental Exchange Inc. will post 8.21 earnings per share for the current year.

Insider Buying and Selling

In other Intercontinental Exchange news, CAO James W. Namkung sold 3,777 shares of the company’s stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $175.00, for a total value of $660,975.00. Following the completion of the sale, the chief accounting officer directly owned 10,325 shares in the company, valued at approximately $1,806,875. This represents a 26.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Benjamin Jackson sold 12,862 shares of the stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $160.09, for a total value of $2,059,077.58. Following the transaction, the president directly owned 164,264 shares in the company, valued at $26,297,023.76. The trade was a 7.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 45,325 shares of company stock valued at $7,471,345 over the last 90 days. 0.84% of the stock is owned by insiders.

Intercontinental Exchange Company Profile

Intercontinental Exchange, Inc. (NYSE: ICE) operates exchanges, clearing houses and technology businesses serving financial and commodity markets. Its platforms support the trading and clearing of futures, options and other products across areas such as energy, agriculture, interest rates and equities. The company also provides market data, analytics and connectivity services to financial institutions and other market participants. Intercontinental Exchange owns the New York Stock Exchange and operates exchanges and clearing houses in multiple markets around the world.