Lazard Freres Gestion S.A.S. Has $61.86 Million Position in Intercontinental Exchange Inc. $ICE

Lazard Freres Gestion S.A.S. lowered its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 10.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 381,922 shares of the financial services provider’s stock after selling 43,823 shares during the period. Intercontinental Exchange comprises 1.1% of Lazard Freres Gestion S.A.S.’s portfolio, making the stock its 28th largest holding. Lazard Freres Gestion S.A.S.’s holdings in Intercontinental Exchange were worth $61,856,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Dynasty Wealth Management LLC bought a new position in shares of Intercontinental Exchange during the third quarter valued at $897,000. Rockland Trust Co. lifted its holdings in shares of Intercontinental Exchange by 19.7% during the third quarter. Rockland Trust Co. now owns 127,652 shares of the financial services provider’s stock valued at $21,507,000 after acquiring an additional 20,981 shares during the period. M&G PLC lifted its holdings in shares of Intercontinental Exchange by 18.4% during the third quarter. M&G PLC now owns 107,070 shares of the financial services provider’s stock valued at $17,988,000 after acquiring an additional 16,635 shares during the period. McKinley Carter Wealth Services Inc. lifted its holdings in shares of Intercontinental Exchange by 15.9% during the third quarter. McKinley Carter Wealth Services Inc. now owns 31,506 shares of the financial services provider’s stock valued at $5,308,000 after acquiring an additional 4,333 shares during the period. Finally, Bright Rock Capital Management LLC lifted its holdings in shares of Intercontinental Exchange by 50.0% during the third quarter. Bright Rock Capital Management LLC now owns 45,000 shares of the financial services provider’s stock valued at $7,582,000 after acquiring an additional 15,000 shares during the period. Institutional investors and hedge funds own 89.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ICE. TD Cowen reissued a “buy” rating on shares of Intercontinental Exchange in a report on Friday, February 6th. Piper Sandler reaffirmed an “overweight” rating and issued a $211.00 price target (up from $195.00) on shares of Intercontinental Exchange in a report on Wednesday, April 15th. Morgan Stanley lifted their price target on Intercontinental Exchange from $183.00 to $187.00 and gave the company an “equal weight” rating in a report on Friday, April 10th. UBS Group reaffirmed a “buy” rating and issued a $200.00 price target on shares of Intercontinental Exchange in a report on Monday, February 9th. Finally, Keefe, Bruyette & Woods assumed coverage on Intercontinental Exchange in a report on Wednesday, April 8th. They issued an “outperform” rating and a $190.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $194.10.

Insider Transactions at Intercontinental Exchange

In other news, insider Lynn C. Martin sold 13,456 shares of the business’s stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $153.86, for a total transaction of $2,070,340.16. Following the completion of the transaction, the insider directly owned 54,319 shares in the company, valued at approximately $8,357,521.34. The trade was a 19.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Warren Gardiner sold 2,490 shares of the business’s stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $154.00, for a total value of $383,460.00. Following the transaction, the chief financial officer owned 27,679 shares of the company’s stock, valued at $4,262,566. The trade was a 8.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 39,956 shares of company stock valued at $6,190,895. 0.84% of the stock is currently owned by insiders.

Intercontinental Exchange Price Performance

Shares of ICE stock opened at $154.18 on Wednesday. The stock has a 50-day moving average price of $158.87 and a 200 day moving average price of $159.96. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63. The firm has a market cap of $87.19 billion, a price-to-earnings ratio of 22.44, a PEG ratio of 1.44 and a beta of 0.96. Intercontinental Exchange Inc. has a 12 month low of $143.17 and a 12 month high of $189.35.

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

About Intercontinental Exchange

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.