Aristotle Atlantic Partners LLC Has $29.72 Million Position in Intercontinental Exchange Inc. $ICE

Aristotle Atlantic Partners LLC cut its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 2.8% during the 1st quarter, Holdings Channel.com reports. The firm owned 188,965 shares of the financial services provider’s stock after selling 5,464 shares during the period. Intercontinental Exchange accounts for approximately 1.4% of Aristotle Atlantic Partners LLC’s investment portfolio, making the stock its 22nd biggest holding. Aristotle Atlantic Partners LLC’s holdings in Intercontinental Exchange were worth $29,720,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. J. Stern & Co. LLP boosted its holdings in shares of Intercontinental Exchange by 17,398.1% during the 4th quarter. J. Stern & Co. LLP now owns 54,107,273 shares of the financial services provider’s stock worth $8,763,214,000 after buying an additional 53,798,055 shares during the period. Norges Bank acquired a new position in shares of Intercontinental Exchange in the fourth quarter valued at approximately $1,418,228,000. Viking Global Investors LP bought a new position in shares of Intercontinental Exchange during the fourth quarter worth approximately $777,926,000. Boston Partners increased its stake in shares of Intercontinental Exchange by 148.6% during the fourth quarter. Boston Partners now owns 3,203,845 shares of the financial services provider’s stock worth $519,701,000 after purchasing an additional 1,914,851 shares during the period. Finally, Focus Partners Wealth lifted its holdings in Intercontinental Exchange by 569.8% during the 4th quarter. Focus Partners Wealth now owns 2,210,948 shares of the financial services provider’s stock worth $358,142,000 after purchasing an additional 1,880,835 shares during the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Keefe, Bruyette & Woods started coverage on Intercontinental Exchange in a research note on Wednesday, April 8th. They issued an “outperform” rating and a $190.00 price target for the company. Piper Sandler lowered their price objective on Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 15th. Raymond James Financial set a $208.00 target price on Intercontinental Exchange in a report on Monday, July 6th. The Goldman Sachs Group reduced their target price on shares of Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. Finally, Rothschild & Co Redburn set a $177.00 price target on shares of Intercontinental Exchange in a research note on Thursday, June 11th. One equities 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 MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $181.58.

Insider Transactions at Intercontinental Exchange

In related news, Director Sharon Bowen sold 667 shares of the stock in a transaction that occurred 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 sale, the director owned 15,077 shares in the company, valued at approximately $2,280,848.56. This trade represents a 4.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Mayur Kapani sold 4,271 shares of the stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $155.42, for a total transaction of $663,798.82. Following the sale, the chief technology officer owned 64,869 shares in the company, valued at $10,081,939.98. This represents a 6.18% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 13,425 shares of company stock worth $2,046,324. Corporate insiders own 0.84% of the company’s stock.

Intercontinental Exchange Stock Performance

ICE opened at $145.93 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01. Intercontinental Exchange Inc. has a 52-week low of $121.79 and a 52-week high of $189.35. The firm has a market cap of $82.53 billion, a P/E ratio of 21.24, a price-to-earnings-growth ratio of 1.51 and a beta of 0.94. The business’s fifty day moving average is $139.50 and its 200-day moving average is $154.08.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, April 30th. The financial services provider reported $2.35 EPS for the quarter, beating analysts’ consensus estimates of $2.23 by $0.12. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The business had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $2.88 billion. During the same quarter in the previous year, the firm earned $1.72 earnings per share. Intercontinental Exchange’s revenue for the quarter was up 20.4% compared to the same quarter last year. Sell-side analysts expect that Intercontinental Exchange Inc. will post 8.01 EPS for the current fiscal year.

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.