Stoneridge Investment Partners LLC Invests $620,000 in Intercontinental Exchange Inc. $ICE

Stoneridge Investment Partners LLC purchased a new position in Intercontinental Exchange Inc. (NYSE:ICE) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 4,067 shares of the financial services provider’s stock, valued at approximately $620,000.

Other institutional investors have also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. increased its holdings in shares of Intercontinental Exchange by 5.9% in the 4th 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 during the last quarter. USS Investment Management Ltd lifted its stake in Intercontinental Exchange by 37.2% during the first quarter. USS Investment Management Ltd now owns 946,920 shares of the financial services provider’s stock worth $148,960,000 after purchasing an additional 256,851 shares during the last quarter. Walter Public Investments Inc. lifted its stake in Intercontinental Exchange by 13.8% during the fourth quarter. Walter Public Investments Inc. now owns 124,993 shares of the financial services provider’s stock worth $20,244,000 after purchasing an additional 15,129 shares during the last quarter. Vanguard Group Inc. boosted its holdings in 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 worth $8,770,647,000 after purchasing an additional 413,639 shares during the period. Finally, Nicholas Company Inc. boosted its holdings in Intercontinental Exchange by 10.1% in the fourth quarter. Nicholas Company Inc. now owns 437,155 shares of the financial services provider’s stock worth $70,802,000 after purchasing an additional 40,240 shares during the period. 89.30% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, Director William Jefferson Hague sold 1,333 shares of the business’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $139.46, for a total transaction of $185,900.18. Following the completion of the transaction, the director directly owned 20,132 shares of the company’s stock, valued at $2,807,608.72. The trade was a 6.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Mayur Kapani sold 4,271 shares of the company’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $151.20, for a total transaction of $645,775.20. Following the completion of the transaction, the chief technology officer owned 67,988 shares of the company’s stock, valued at approximately $10,279,785.60. This trade represents a 5.91% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 20,725 shares of company stock worth $3,115,124 over the last 90 days. Corporate insiders own 0.84% of the company’s stock.

Intercontinental Exchange Stock Performance

ICE stock opened at $154.55 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a market capitalization of $86.76 billion, a price-to-earnings ratio of 21.83, a PEG ratio of 1.52 and a beta of 0.92. Intercontinental Exchange Inc. has a 1 year low of $121.79 and a 1 year high of $182.86. The stock’s fifty day moving average is $140.59 and its two-hundred day moving average is $152.26.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.06. The company had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $2.63 billion. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The company’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.81 earnings per share. On average, research analysts predict that Intercontinental Exchange Inc. will post 8.1 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Wall Street Zen cut shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. Raymond James Financial set a $208.00 price target on shares of Intercontinental Exchange in a report on Monday, July 6th. The Goldman Sachs Group lowered their price objective on shares of Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $178.00 price objective on shares of Intercontinental Exchange in a research note on Friday, July 31st. Finally, Piper Sandler cut their target price on shares of Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating on the stock in a report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Intercontinental Exchange has an average rating of “Moderate Buy” and an average target price of $183.33.

Intercontinental Exchange 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.