Intercontinental Exchange Inc. $ICE Position Increased by Sycale Advisors NY LLC

Sycale Advisors NY LLC boosted its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 27.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 172,352 shares of the financial services provider’s stock after purchasing an additional 36,950 shares during the quarter. Intercontinental Exchange makes up 8.7% of Sycale Advisors NY LLC’s portfolio, making the stock its 3rd biggest holding. Sycale Advisors NY LLC’s holdings in Intercontinental Exchange were worth $27,914,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of ICE. PNC Financial Services Group Inc. lifted its position in shares of Intercontinental Exchange by 5.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 191,658 shares of the financial services provider’s stock valued at $31,041,000 after acquiring an additional 10,742 shares in the last quarter. M&G PLC lifted its position in shares of Intercontinental Exchange by 18.4% in 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 in the last quarter. Dover Advisors LLC purchased a new stake in shares of Intercontinental Exchange in the third quarter valued at $710,000. Advisors Preferred LLC lifted its position in shares of Intercontinental Exchange by 284.5% in the third quarter. Advisors Preferred LLC now owns 43,645 shares of the financial services provider’s stock valued at $7,098,000 after acquiring an additional 32,295 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Intercontinental Exchange by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 54,153,170 shares of the financial services provider’s stock valued at $8,770,647,000 after acquiring an additional 413,639 shares in the last quarter. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, 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 transaction, the general counsel directly owned 45,473 shares in the company, valued at approximately $6,891,887.88. This represents a 9.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Warren Gardiner sold 2,490 shares of the stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $156.64, for a total value of $390,033.60. Following the transaction, the chief financial officer owned 25,189 shares in the company, valued at $3,945,604.96. This trade represents a 9.00% 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 have sold 12,092 shares of company stock valued at $1,860,424. 0.84% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

ICE has been the topic of several recent research reports. Weiss Ratings downgraded Intercontinental Exchange from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, June 2nd. UBS Group restated a “buy” rating and issued a $205.00 price objective on shares of Intercontinental Exchange in a research report on Wednesday, May 20th. Keefe, Bruyette & Woods initiated coverage on Intercontinental Exchange in a research report on Wednesday, April 8th. They issued an “outperform” rating and a $190.00 price objective on the stock. Morgan Stanley upped their price objective on Intercontinental Exchange from $183.00 to $187.00 and gave the company an “equal weight” rating in a research report on Friday, April 10th. Finally, Rothschild & Co Redburn set a $177.00 price objective on Intercontinental Exchange in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $193.00.

Intercontinental Exchange Stock Performance

NYSE ICE opened at $140.26 on Monday. The business’s 50-day moving average price is $154.22 and its 200 day moving average price is $159.32. Intercontinental Exchange Inc. has a twelve month low of $136.67 and a twelve month high of $189.35. The company has a market capitalization of $79.32 billion, a PE ratio of 20.42, a price-to-earnings-growth ratio of 1.35 and a beta of 0.92. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63.

Intercontinental Exchange (NYSE:ICE) last released its earnings results 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. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The firm had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $2.88 billion. During the same period in the prior year, the business posted $1.72 earnings per share. The firm’s revenue for the quarter was up 20.4% compared to the same quarter last year. On average, research analysts predict that Intercontinental Exchange Inc. will post 8.16 earnings per share 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.