Deprince Race & Zollo Inc. Invests $27.53 Million in Intercontinental Exchange Inc. $ICE

Deprince Race & Zollo Inc. bought a new position in shares of Intercontinental Exchange Inc. (NYSE:ICE) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 175,030 shares of the financial services provider’s stock, valued at approximately $27,529,000.

Several other institutional investors have also bought and sold shares of ICE. Vanguard Group Inc. grew its position in Intercontinental Exchange by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 54,153,170 shares of the financial services provider’s stock valued at $8,770,647,000 after acquiring an additional 413,639 shares during the period. J. Stern & Co. LLP lifted its holdings in shares of Intercontinental Exchange by 17,398.1% during the fourth quarter. J. Stern & Co. LLP now owns 54,107,273 shares of the financial services provider’s stock valued at $8,763,214,000 after acquiring an additional 53,798,055 shares during the period. State Street Corp boosted its stake in shares of Intercontinental Exchange by 3.4% in the 4th quarter. State Street Corp now owns 25,653,952 shares of the financial services provider’s stock valued at $4,154,914,000 after purchasing an additional 837,208 shares in the last quarter. Morgan Stanley boosted its stake in shares of Intercontinental Exchange by 1.0% in the 4th quarter. Morgan Stanley now owns 15,875,593 shares of the financial services provider’s stock valued at $2,571,212,000 after purchasing an additional 158,450 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of Intercontinental Exchange by 64.7% in the 3rd quarter. Wellington Management Group LLP now owns 10,354,224 shares of the financial services provider’s stock worth $1,744,480,000 after purchasing an additional 4,067,922 shares during the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Intercontinental Exchange Stock Up 3.1%

Shares of NYSE:ICE opened at $126.98 on Thursday. Intercontinental Exchange Inc. has a 12 month low of $121.79 and a 12 month high of $189.35. The company’s 50-day moving average price is $145.67 and its two-hundred day moving average price is $156.84. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63. The firm has a market cap of $71.81 billion, a P/E ratio of 18.48, a P/E/G ratio of 1.15 and a beta of 0.94.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, April 30th. The financial services provider reported $2.35 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $2.88 billion. During the same quarter last year, the company posted $1.72 EPS. The company’s quarterly revenue was up 20.4% compared to the same quarter last year. As a group, research analysts forecast that Intercontinental Exchange Inc. will post 8.37 EPS for the current fiscal year.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, Director William Jefferson Hague sold 1,333 shares of the company’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $139.46, for a total transaction of $185,900.18. Following the transaction, the director owned 20,132 shares of the company’s stock, valued at approximately $2,807,608.72. This represents a 6.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Mayur Kapani sold 4,271 shares of the stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $155.42, for a total value of $663,798.82. Following the completion of the transaction, the chief technology officer owned 64,869 shares in the company, valued at $10,081,939.98. The trade was a 6.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 13,425 shares of company stock valued at $2,046,324 over the last three months. Insiders own 0.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Morgan Stanley increased their target price on shares of Intercontinental Exchange from $183.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Friday, April 10th. Piper Sandler restated an “overweight” rating and issued a $211.00 price target (up from $195.00) on shares of Intercontinental Exchange in a research report on Wednesday, April 15th. Keefe, Bruyette & Woods assumed coverage on shares of Intercontinental Exchange in a research note on Wednesday, April 8th. They set an “outperform” rating and a $190.00 price objective on the stock. Barclays reaffirmed an “overweight” rating and set a $201.00 price objective (up from $198.00) on shares of Intercontinental Exchange in a report on Friday, May 1st. Finally, UBS Group reiterated a “buy” rating and issued a $205.00 target price on shares of Intercontinental Exchange in a research note on Wednesday, May 20th. One 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. Based on data from MarketBeat, Intercontinental Exchange currently has a consensus rating of “Moderate Buy” and a consensus target price of $188.58.

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.