11,009 Shares in Intercontinental Exchange Inc. $ICE Purchased by Cibc World Market Inc.

Cibc World Market Inc. purchased a new stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) during the 2nd quarter, Holdings Channel reports. The institutional investor purchased 11,009 shares of the financial services provider’s stock, valued at approximately $1,355,000.

A number of other hedge funds also recently modified their holdings of ICE. Ares Financial Consulting LLC acquired a new stake in shares of Intercontinental Exchange during the 4th quarter valued at about $25,000. Rakuten Securities Inc. bought a new stake in Intercontinental Exchange in the second quarter valued at about $26,000. Swiss RE Ltd. acquired a new position in Intercontinental Exchange in the fourth quarter worth about $28,000. Brooklands Fund Management Ltd acquired a new position in Intercontinental Exchange in the fourth quarter worth about $28,000. Finally, Lloyd Advisory Services LLC. bought a new position in Intercontinental Exchange during the fourth quarter worth about $30,000. Institutional investors own 89.30% of the company’s stock.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, CFO Warren Gardiner sold 2,491 shares of the stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $156.30, for a total value of $389,343.30. Following the transaction, the chief financial officer directly owned 22,698 shares in the company, valued at approximately $3,547,697.40. This trade represents a 9.89% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William Jefferson Hague sold 1,333 shares of the business’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $139.46, for a total value of $185,900.18. Following the sale, the director owned 20,132 shares of the company’s stock, valued at approximately $2,807,608.72. The trade was a 6.21% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 17,227 shares of company stock worth $2,598,301 in the last quarter. 0.84% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

ICE has been the topic of a number of recent research reports. Piper Sandler decreased their price objective on Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating on the stock in a report on Wednesday, July 15th. Rothschild & Co Redburn set a $177.00 target price on Intercontinental Exchange in a research report on Thursday, June 11th. Barclays reaffirmed an “overweight” rating and issued a $182.00 price target (up from $180.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. Raymond James Financial set a $208.00 price target on Intercontinental Exchange in a research report on Monday, July 6th. Finally, Wall Street Zen upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Saturday, August 22nd. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $183.33.

Intercontinental Exchange Trading Down 0.5%

ICE opened at $161.19 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $90.49 billion, a PE ratio of 22.77, a PEG ratio of 1.57 and a beta of 0.92. Intercontinental Exchange Inc. has a 1-year low of $121.79 and a 1-year high of $177.76. The firm has a 50-day moving average price of $144.32 and a two-hundred day moving average price of $151.43.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, July 30th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.84 by $0.06. The company had revenue of $3.61 billion for the quarter, compared to analyst estimates of $2.63 billion. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. Intercontinental Exchange’s quarterly revenue was up 4.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.81 earnings per share. As a group, equities analysts anticipate that Intercontinental Exchange Inc. will post 8.1 earnings per share for the current fiscal year.

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.