First Trust Advisors LP Has $59.62 Million Holdings in Intercontinental Exchange Inc. $ICE

First Trust Advisors LP raised its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 10.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 379,035 shares of the financial services provider’s stock after buying an additional 36,279 shares during the period. First Trust Advisors LP’s holdings in Intercontinental Exchange were worth $59,615,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in ICE. Phillip James Consulting Co. bought a new position in shares of Intercontinental Exchange during the 1st quarter worth approximately $66,000. PNC Financial Services Group Inc. increased its holdings in shares of Intercontinental Exchange by 4.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 200,710 shares of the financial services provider’s stock worth $31,568,000 after acquiring an additional 9,052 shares during the last quarter. Oslo Pensjonsforsikring AS bought a new stake in Intercontinental Exchange in the 1st quarter valued at $162,000. Glenview Trust Co raised its stake in Intercontinental Exchange by 3.1% in the 1st quarter. Glenview Trust Co now owns 6,975 shares of the financial services provider’s stock valued at $1,097,000 after acquiring an additional 213 shares during the period. Finally, Long Road Investment Counsel LLC lifted its holdings in Intercontinental Exchange by 2.3% during the 1st quarter. Long Road Investment Counsel LLC now owns 50,735 shares of the financial services provider’s stock valued at $7,980,000 after purchasing an additional 1,150 shares during the last quarter. 89.30% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director William Jefferson Hague sold 1,333 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $139.46, for a total transaction of $185,900.18. Following the transaction, the director directly owned 20,132 shares of the company’s stock, valued at approximately $2,807,608.72. This trade represents a 6.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Warren Gardiner sold 2,490 shares of the firm’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $156.64, for a total transaction 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. This represents a 9.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 13,425 shares of company stock worth $2,046,324. 0.84% of the stock is currently owned by insiders.

Intercontinental Exchange Stock Up 1.9%

ICE opened at $145.93 on Friday. Intercontinental Exchange Inc. has a fifty-two week low of $121.79 and a fifty-two week high of $189.35. 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 company has a market capitalization of $82.53 billion, a P/E ratio of 21.24, a P/E/G ratio of 1.51 and a beta of 0.94. The stock has a fifty day moving average of $139.50 and a 200-day moving average of $154.08.

Intercontinental Exchange (NYSE:ICE) last announced 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 during the quarter, compared to analysts’ expectations of $2.88 billion. During the same quarter in the previous year, the business posted $1.72 earnings per share. Intercontinental Exchange’s quarterly revenue was up 20.4% on a year-over-year basis. On average, equities analysts expect that Intercontinental Exchange Inc. will post 8.01 EPS for the current year.

Analyst Ratings Changes

ICE has been the subject of a number of research analyst reports. UBS Group reduced their price objective on shares of Intercontinental Exchange from $205.00 to $190.00 and set a “buy” rating for the company in a research report on Tuesday, July 7th. TD Cowen dropped their price objective on shares of Intercontinental Exchange from $193.00 to $153.00 and set a “buy” rating on the stock in a research report on Monday, June 22nd. Keefe, Bruyette & Woods assumed coverage on shares of Intercontinental Exchange in a report on Wednesday, April 8th. They set an “outperform” rating and a $190.00 target price for the company. Morgan Stanley decreased their price target on shares of Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating on the stock in a research note on Friday, July 10th. Finally, Piper Sandler lowered their price target on shares of Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating on the stock in a report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Intercontinental Exchange presently has a consensus rating of “Moderate Buy” and a consensus target price of $181.58.

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.