Sustainable Insight Capital Management LLC Makes New Investment in Intercontinental Exchange Inc. $ICE

Sustainable Insight Capital Management LLC bought a new position in shares of Intercontinental Exchange Inc. (NYSE:ICE) during the 2nd quarter, HoldingsChannel reports. The firm bought 11,809 shares of the financial services provider’s stock, valued at approximately $2,167,000. Intercontinental Exchange comprises approximately 1.0% of Sustainable Insight Capital Management LLC’s holdings, making the stock its 26th largest position.

Several other hedge funds have also recently modified their holdings of the business. Savant Capital LLC lifted its position in shares of Intercontinental Exchange by 10.9% during the second quarter. Savant Capital LLC now owns 10,871 shares of the financial services provider’s stock valued at $1,995,000 after buying an additional 1,068 shares during the last quarter. Texas Yale Capital Corp. raised its stake in shares of Intercontinental Exchange by 0.3% during the 2nd quarter. Texas Yale Capital Corp. now owns 29,522 shares of the financial services provider’s stock worth $5,416,000 after acquiring an additional 100 shares in the last quarter. Soltis Investment Advisors LLC lifted its position in Intercontinental Exchange by 59.9% during the second quarter. Soltis Investment Advisors LLC now owns 2,964 shares of the financial services provider’s stock valued at $544,000 after acquiring an additional 1,110 shares during the last quarter. SouthState Corp boosted its stake in Intercontinental Exchange by 7.5% in the second quarter. SouthState Corp now owns 76,724 shares of the financial services provider’s stock valued at $14,077,000 after acquiring an additional 5,380 shares in the last quarter. Finally, C WorldWide Group Holding A S grew its holdings in Intercontinental Exchange by 29,199.5% in the second quarter. C WorldWide Group Holding A S now owns 1,652,201 shares of the financial services provider’s stock worth $303,129,000 after purchasing an additional 1,646,562 shares during the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Insider Activity at Intercontinental Exchange

In other news, COO Stuart Glen Williams sold 939 shares of the business’s stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $172.04, for a total transaction of $161,545.56. Following the sale, the chief operating officer owned 16,624 shares in the company, valued at $2,859,992.96. The trade was a 5.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Mayur Kapani sold 10,082 shares of the firm’s stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $158.88, for a total value of $1,601,828.16. Following the completion of the sale, the chief technology officer directly owned 65,240 shares of the company’s stock, valued at approximately $10,365,331.20. This trade represents a 13.39% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 240,162 shares of company stock valued at $43,642,652. Corporate insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Barclays set a $183.00 price objective on Intercontinental Exchange and gave the stock an “overweight” rating in a research report on Friday, October 31st. JPMorgan Chase & Co. lowered their price target on Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating for the company in a report on Friday, October 31st. UBS Group cut their price objective 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. Raymond James Financial upgraded shares of Intercontinental Exchange from an “outperform” rating to a “strong-buy” rating and set a $210.00 target price for the company in a research note on Monday, October 13th. Finally, Keefe, Bruyette & Woods raised shares of Intercontinental Exchange to a “moderate buy” rating in a research report on Monday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $191.82.

Intercontinental Exchange Stock Performance

Shares of ICE opened at $147.41 on Friday. The stock has a market capitalization of $84.05 billion, a P/E ratio of 28.29, a P/E/G ratio of 2.11 and a beta of 1.06. Intercontinental Exchange Inc. has a 12-month low of $142.29 and a 12-month high of $189.35. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01. The firm’s 50 day moving average is $163.02 and its 200-day moving average is $173.07.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, October 30th. The financial services provider reported $1.71 EPS for the quarter, meeting analysts’ consensus estimates of $1.71. The company had revenue of $2.41 billion during the quarter, compared to the consensus estimate of $2.49 billion. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.The company’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.55 EPS. Equities research analysts anticipate that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Profile

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.