Pacer Advisors Inc. Grows Position in Intercontinental Exchange Inc. $ICE

Pacer Advisors Inc. raised its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 11.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 52,186 shares of the financial services provider’s stock after acquiring an additional 5,279 shares during the quarter. Pacer Advisors Inc.’s holdings in Intercontinental Exchange were worth $8,452,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Ares Financial Consulting LLC acquired a new stake in shares of Intercontinental Exchange in the fourth quarter valued at about $25,000. Brooklands Fund Management Ltd purchased a new position in Intercontinental Exchange in the fourth quarter valued at about $28,000. Dorato Capital Management acquired a new stake in shares of Intercontinental Exchange during the 4th quarter valued at approximately $29,000. Swiss RE Ltd. purchased a new stake in shares of Intercontinental Exchange during the 4th quarter worth approximately $28,000. Finally, Steph & Co. boosted 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 in the last quarter. 89.30% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Warren Gardiner sold 2,490 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $156.64, for a total transaction of $390,033.60. Following the transaction, the chief financial officer owned 25,189 shares of the company’s stock, valued at approximately $3,945,604.96. This represents a 9.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CTO Mayur Kapani sold 4,271 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $155.42, for a total transaction of $663,798.82. Following the transaction, the chief technology officer directly owned 64,869 shares in the company, valued at $10,081,939.98. The trade was a 6.18% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 13,425 shares of company stock valued at $2,046,324. 0.84% of the stock is currently owned by insiders.

Intercontinental Exchange Trading Down 0.1%

Intercontinental Exchange stock opened at $133.76 on Monday. The stock has a 50-day moving average price of $151.34 and a 200 day moving average price of $158.61. Intercontinental Exchange Inc. has a 52 week low of $132.84 and a 52 week high of $189.35. The stock has a market cap of $75.64 billion, a PE ratio of 19.47, a P/E/G ratio of 1.28 and a beta of 0.92. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share (EPS) for the quarter, beating 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 company had revenue of $3.67 billion for the quarter, compared to analyst estimates of $2.88 billion. During the same period in the prior year, the firm earned $1.72 EPS. The firm’s quarterly revenue was up 20.4% on a year-over-year basis. Equities research analysts predict that Intercontinental Exchange Inc. will post 8.16 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ICE. UBS Group reaffirmed a “buy” rating and issued a $205.00 price objective on shares of Intercontinental Exchange in a research note on Wednesday, May 20th. Barclays reiterated an “overweight” rating and set a $201.00 target price (up from $198.00) on shares of Intercontinental Exchange in a research report on Friday, May 1st. Piper Sandler reissued an “overweight” rating and issued a $211.00 target price (up from $195.00) on shares of Intercontinental Exchange in a report on Wednesday, April 15th. Morgan Stanley raised their price target on Intercontinental Exchange from $183.00 to $187.00 and gave the company an “equal weight” rating in a research report on Friday, April 10th. Finally, Weiss Ratings downgraded Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $193.00.

Intercontinental Exchange 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.