Van Hulzen Asset Management LLC Takes Position in Intercontinental Exchange Inc. $ICE

Van Hulzen Asset Management LLC bought a new position in shares of Intercontinental Exchange Inc. (NYSE:ICE) in the second quarter, Holdings Channel reports. The institutional investor bought 14,388 shares of the financial services provider’s stock, valued at approximately $1,771,000.

Several other hedge funds have also recently modified their holdings of ICE. Vanguard Group Inc. boosted its holdings in Intercontinental Exchange by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 54,153,170 shares of the financial services provider’s stock worth $8,770,647,000 after buying an additional 413,639 shares during the last quarter. J. Stern & Co. LLP lifted its position in shares of Intercontinental Exchange by 17,398.1% in the fourth quarter. J. Stern & Co. LLP now owns 54,107,273 shares of the financial services provider’s stock valued at $8,763,214,000 after acquiring an additional 53,798,055 shares in the last quarter. BlackRock Inc. purchased a new position in shares of Intercontinental Exchange in the second quarter valued at approximately $6,245,085,000. State Street Corp boosted its stake in shares of Intercontinental Exchange by 3.4% in the fourth quarter. State Street Corp now owns 25,653,952 shares of the financial services provider’s stock worth $4,154,914,000 after acquiring an additional 837,208 shares during the last quarter. Finally, Morgan Stanley boosted its stake in shares of Intercontinental Exchange by 1.0% in the fourth quarter. Morgan Stanley now owns 15,875,593 shares of the financial services provider’s stock worth $2,571,212,000 after acquiring an additional 158,450 shares during the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Intercontinental Exchange Price Performance

ICE stock opened at $162.89 on Tuesday. Intercontinental Exchange Inc. has a 1 year low of $121.79 and a 1 year high of $181.65. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market capitalization of $91.45 billion, a PE ratio of 23.01, a price-to-earnings-growth ratio of 1.57 and a beta of 0.92. The business has a 50 day simple moving average of $142.80 and a 200-day simple moving average of $151.54.

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

Wall Street Analyst Weigh In

Several research firms recently commented on ICE. Morgan Stanley reduced their price objective on Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating for the company in a research note on Friday, July 10th. The Goldman Sachs Group lowered their target price on shares of Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. TD Cowen reaffirmed a “buy” rating and set a $177.00 target price (up from $159.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. Piper Sandler reduced their target price on shares of Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating for the company in a research report on Wednesday, July 15th. Finally, Wall Street Zen raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Saturday. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $183.33.

Insider Buying and Selling

In other news, CTO Mayur Kapani sold 4,271 shares of the business’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $151.20, for a total transaction of $645,775.20. Following the transaction, the chief technology officer owned 67,988 shares of the company’s stock, valued at approximately $10,279,785.60. The trade was a 5.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Douglas Foley sold 1,600 shares of the company’s stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $160.00, for a total transaction of $256,000.00. Following the completion of the sale, the senior vice president directly owned 17,463 shares of the company’s stock, valued at $2,794,080. This represents a 8.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 17,227 shares of company stock valued at $2,598,301 over the last 90 days. Insiders own 0.84% of the company’s stock.

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.