Intercontinental Exchange Inc. $ICE Shares Purchased by Bridges Investment Management Inc.

Bridges Investment Management Inc. boosted its position in Intercontinental Exchange Inc. (NYSE:ICE) by 3.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 392,973 shares of the financial services provider’s stock after acquiring an additional 14,225 shares during the quarter. Bridges Investment Management Inc.’s holdings in Intercontinental Exchange were worth $63,646,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in ICE. Norges Bank acquired a new position in Intercontinental Exchange in the 4th quarter worth $1,418,228,000. Wellington Management Group LLP raised its stake in shares of Intercontinental Exchange by 64.7% in the 3rd quarter. Wellington Management Group LLP now owns 10,354,224 shares of the financial services provider’s stock valued at $1,744,480,000 after purchasing an additional 4,067,922 shares in the last quarter. Waverton Investment Management Ltd raised its stake in shares of Intercontinental Exchange by 28,886.8% in the 3rd quarter. Waverton Investment Management Ltd now owns 1,526,734 shares of the financial services provider’s stock valued at $257,163,000 after purchasing an additional 1,521,467 shares in the last quarter. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Intercontinental Exchange in the 4th quarter valued at about $213,286,000. Finally, Swedbank AB raised its stake in shares of Intercontinental Exchange by 43.3% in the 4th quarter. Swedbank AB now owns 3,527,115 shares of the financial services provider’s stock valued at $571,252,000 after purchasing an additional 1,064,967 shares in the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Insider Buying and Selling at Intercontinental Exchange

In related news, CFO Warren Gardiner sold 2,490 shares of the stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $156.64, for a total transaction of $390,033.60. Following the sale, the chief financial officer owned 25,189 shares in the company, valued at $3,945,604.96. This represents a 9.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 4,573 shares of the stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $151.56, for a total transaction of $693,083.88. Following the sale, the general counsel owned 45,473 shares in the company, valued at approximately $6,891,887.88. This trade represents a 9.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 12,001 shares of company stock worth $1,847,820 in the last ninety days. Insiders own 0.84% of the company’s stock.

Intercontinental Exchange Price Performance

ICE opened at $142.53 on Wednesday. The firm has a market cap of $80.60 billion, a price-to-earnings ratio of 20.75, a price-to-earnings-growth ratio of 1.39 and a beta of 0.92. Intercontinental Exchange Inc. has a fifty-two week low of $136.67 and a fifty-two week high of $189.35. The company’s 50-day moving average price is $157.12 and its 200 day moving average price is $160.10. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63.

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

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ICE. Morgan Stanley upped their target price on shares of Intercontinental Exchange from $183.00 to $187.00 and gave the company an “equal weight” rating in a research note on Friday, April 10th. Weiss Ratings lowered shares of Intercontinental Exchange from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, April 24th. UBS Group restated a “buy” rating and issued a $205.00 target price on shares of Intercontinental Exchange in a research note on Wednesday, May 20th. Deutsche Bank Aktiengesellschaft upgraded shares of Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 target price on the stock in a research note on Friday, March 6th. Finally, Piper Sandler restated an “overweight” rating and issued a $211.00 target price (up from $195.00) on shares of Intercontinental Exchange in a research note on Wednesday, April 15th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Intercontinental Exchange has a consensus rating of “Buy” and an average price target of $194.60.

Intercontinental Exchange Company 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.