Cantillon Capital Management LLC Acquires 25,032 Shares of Intercontinental Exchange Inc. $ICE

Cantillon Capital Management LLC increased its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 0.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 3,337,982 shares of the financial services provider’s stock after acquiring an additional 25,032 shares during the period. Intercontinental Exchange accounts for about 2.9% of Cantillon Capital Management LLC’s holdings, making the stock its 12th largest position. Cantillon Capital Management LLC’s holdings in Intercontinental Exchange were worth $540,620,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ICE. PNC Financial Services Group Inc. boosted its holdings in Intercontinental Exchange by 5.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 191,658 shares of the financial services provider’s stock worth $31,041,000 after acquiring an additional 10,742 shares in the last quarter. Rockland Trust Co. grew its stake in shares of Intercontinental Exchange by 19.7% in the third quarter. Rockland Trust Co. now owns 127,652 shares of the financial services provider’s stock worth $21,507,000 after acquiring an additional 20,981 shares during the last quarter. M&G PLC increased its holdings in shares of Intercontinental Exchange by 18.4% during the third quarter. M&G PLC now owns 107,070 shares of the financial services provider’s stock valued at $17,988,000 after acquiring an additional 16,635 shares in the last quarter. Caprock Group LLC purchased a new position in shares of Intercontinental Exchange in the 3rd quarter worth about $2,788,000. Finally, Dover Advisors LLC purchased a new position in shares of Intercontinental Exchange in the 3rd quarter worth about $710,000. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently commented on ICE shares. Keefe, Bruyette & Woods began coverage on shares of Intercontinental Exchange in a research report on Wednesday, April 8th. They set an “outperform” rating and a $190.00 price objective on the stock. Weiss Ratings downgraded shares of Intercontinental Exchange from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, June 2nd. Deutsche Bank Aktiengesellschaft upgraded shares of Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 price target on the stock in a report on Friday, March 6th. Piper Sandler reissued an “overweight” rating and set a $211.00 price target (up from $195.00) on shares of Intercontinental Exchange in a research report on Wednesday, April 15th. Finally, Morgan Stanley boosted their price objective on shares of Intercontinental Exchange from $183.00 to $187.00 and gave the stock an “equal weight” rating in a report on Friday, April 10th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $194.60.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, Director Sharon Bowen sold 667 shares of the business’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $151.28, for a total transaction of $100,903.76. Following the completion of the sale, the director directly owned 15,077 shares in the company, valued at approximately $2,280,848.56. The trade was a 4.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Warren Gardiner sold 2,490 shares of the stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $156.64, for a total value of $390,033.60. Following the transaction, the chief financial officer directly owned 25,189 shares in the company, valued at $3,945,604.96. The trade was a 9.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 12,001 shares of company stock valued at $1,847,820 in the last quarter. 0.84% of the stock is currently owned by corporate insiders.

Intercontinental Exchange Price Performance

ICE opened at $141.36 on Monday. 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 $79.94 billion, a P/E ratio of 20.58, a P/E/G ratio of 1.36 and a beta of 0.92. The company’s 50-day simple moving average is $155.83 and its two-hundred day simple moving average is $159.78. Intercontinental Exchange Inc. has a 52-week low of $136.67 and a 52-week high of $189.35.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, April 30th. The financial services provider reported $2.35 EPS for the quarter, topping analysts’ consensus estimates of $2.23 by $0.12. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The firm had revenue of $3.67 billion during the quarter, compared to analyst estimates of $2.88 billion. The business’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.72 earnings per share. As a group, analysts predict that Intercontinental Exchange Inc. will post 8.16 EPS for the current 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.