Intercontinental Exchange Inc. $ICE Shares Acquired by Annis Gardner Whiting Capital Advisors LLC

Annis Gardner Whiting Capital Advisors LLC boosted its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 72.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,291 shares of the financial services provider’s stock after purchasing an additional 5,159 shares during the period. Annis Gardner Whiting Capital Advisors LLC’s holdings in Intercontinental Exchange were worth $2,071,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Intercontinental Exchange by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 53,685,491 shares of the financial services provider’s stock valued at $9,849,677,000 after buying an additional 745,135 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Intercontinental Exchange by 1.2% in the second quarter. Geode Capital Management LLC now owns 12,438,154 shares of the financial services provider’s stock worth $2,270,657,000 after buying an additional 145,961 shares during the last quarter. Norges Bank acquired a new stake in Intercontinental Exchange in the second quarter valued at $1,542,780,000. Sands Capital Management LLC raised its holdings in Intercontinental Exchange by 97.3% in the second quarter. Sands Capital Management LLC now owns 5,313,039 shares of the financial services provider’s stock valued at $974,783,000 after acquiring an additional 2,620,310 shares in the last quarter. Finally, Legal & General Group Plc boosted its stake in Intercontinental Exchange by 4.1% during the 2nd quarter. Legal & General Group Plc now owns 3,510,634 shares of the financial services provider’s stock valued at $644,096,000 after acquiring an additional 137,685 shares during the last quarter. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Intercontinental Exchange Price Performance

ICE opened at $172.40 on Thursday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.61. The company’s 50-day moving average price is $163.18 and its 200 day moving average price is $166.98. Intercontinental Exchange Inc. has a fifty-two week low of $143.17 and a fifty-two week high of $189.35. The firm has a market cap of $98.30 billion, a price-to-earnings ratio of 31.40, a price-to-earnings-growth ratio of 2.14 and a beta of 1.03.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, October 30th. The financial services provider reported $1.71 EPS for the quarter, meeting the consensus estimate of $1.71. The company had revenue of $3.01 billion during the quarter, compared to analyst estimates of $2.49 billion. Intercontinental Exchange had a return on equity of 13.79% and a net margin of 25.24%.The business’s revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.55 earnings per share. As a group, sell-side analysts expect that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Analyst Upgrades and Downgrades

ICE has been the subject of several research analyst reports. Barclays set a $182.00 target price on shares of Intercontinental Exchange and gave the stock an “overweight” rating in a research report on Thursday, January 8th. Piper Sandler reiterated an “overweight” rating and issued a $195.00 price target (down from $202.00) on shares of Intercontinental Exchange in a research note on Wednesday, January 14th. Morgan Stanley set a $180.00 price objective on Intercontinental Exchange and gave the company an “equal weight” rating in a research note on Thursday, January 15th. TD Cowen reaffirmed a “buy” rating on shares of Intercontinental Exchange in a report on Wednesday, January 14th. Finally, UBS Group reiterated a “buy” rating on shares of Intercontinental Exchange in a research report on Wednesday, January 7th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Intercontinental Exchange presently has a consensus rating of “Buy” and an average price target of $193.50.

Insiders Place Their Bets

In related news, CFO Warren Gardiner sold 1,572 shares of the business’s stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $153.65, for a total transaction of $241,537.80. Following the completion of the transaction, the chief financial officer owned 20,534 shares in the company, valued at $3,155,049.10. The trade was a 7.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Douglas Foley sold 1,600 shares of the company’s stock in a transaction on Friday, December 12th. The stock was sold at an average price of $163.20, for a total value of $261,120.00. Following the transaction, the senior vice president owned 24,196 shares of the company’s stock, valued at approximately $3,948,787.20. The trade was a 6.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 166,068 shares of company stock worth $25,470,702. 1.00% of the stock is currently owned by insiders.

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.