Lawood & Co. Buys Shares of 5,197 Intercontinental Exchange Inc. $ICE

Lawood & Co. purchased a new position in shares of Intercontinental Exchange Inc. (NYSE:ICE) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 5,197 shares of the financial services provider’s stock, valued at approximately $842,000.

Other hedge funds also recently modified their holdings of the company. Ares Financial Consulting LLC purchased a new stake in Intercontinental Exchange in the fourth quarter worth $25,000. Holos Integrated Wealth LLC purchased a new position in shares of Intercontinental Exchange during the 4th quarter valued at $28,000. Steph & Co. grew its stake in shares of Intercontinental Exchange by 104.7% during the 4th quarter. Steph & Co. now owns 174 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 89 shares during the period. Dorato Capital Management purchased a new stake in Intercontinental Exchange in the 4th quarter worth about $29,000. Finally, Caitlin John LLC purchased a new stake in Intercontinental Exchange in the 3rd quarter worth about $32,000. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Down 0.8%

Shares of ICE opened at $154.48 on Friday. The firm has a market cap of $87.36 billion, a P/E ratio of 22.49, a P/E/G ratio of 1.44 and a beta of 0.96. The stock has a 50 day simple moving average of $159.26 and a two-hundred day simple moving average of $159.94. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01. Intercontinental Exchange Inc. has a 1 year low of $143.17 and a 1 year high of $189.35.

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

Insider Buying and Selling

In related news, General Counsel Andrew J. Surdykowski sold 4,571 shares of the stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $162.00, for a total transaction of $740,502.00. Following the completion of the sale, the general counsel directly owned 48,181 shares in the company, valued at $7,805,322. This represents a 8.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Lynn C. Martin sold 13,456 shares of the firm’s stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $153.86, for a total value of $2,070,340.16. Following the transaction, the insider owned 54,319 shares in the company, valued at approximately $8,357,521.34. The trade was a 19.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 330,835 shares of company stock worth $51,275,650 in the last 90 days. 0.84% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have commented on ICE. Piper Sandler reaffirmed an “overweight” rating and set a $211.00 price objective (up from $195.00) on shares of Intercontinental Exchange in a report on Wednesday, April 15th. Weiss Ratings downgraded Intercontinental Exchange from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, April 24th. Barclays reaffirmed an “overweight” rating and set a $201.00 target price (up from $198.00) on shares of Intercontinental Exchange in a report on Friday, May 1st. Keefe, Bruyette & Woods initiated coverage on shares of Intercontinental Exchange in a report on Wednesday, April 8th. They issued an “outperform” rating and a $190.00 price target on the stock. Finally, TD Cowen restated a “buy” rating on shares of Intercontinental Exchange in a research report on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $194.10.

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.