Shepherd Financial Partners LLC Invests $836,000 in Intercontinental Exchange Inc. $ICE

Shepherd Financial Partners LLC bought a new position in shares of Intercontinental Exchange Inc. (NYSE:ICE) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 6,795 shares of the financial services provider’s stock, valued at approximately $836,000.

Other hedge funds also recently added to or reduced their stakes in the company. Ares Financial Consulting LLC acquired a new stake in Intercontinental Exchange in the fourth quarter worth about $25,000. Brooklands Fund Management Ltd acquired a new position in shares of Intercontinental Exchange during the fourth quarter valued at about $28,000. Swiss RE Ltd. acquired a new position in shares of Intercontinental Exchange during the fourth quarter valued at about $28,000. Lloyd Advisory Services LLC. purchased a new position in shares of Intercontinental Exchange in the 4th quarter valued at approximately $30,000. Finally, Kemnay Advisory Services Inc. purchased a new position in shares of Intercontinental Exchange in the 4th quarter valued at approximately $37,000. 89.30% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. TD Cowen reissued a “buy” rating and set a $177.00 target price (up from $159.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. Rothschild & Co Redburn set a $177.00 price objective on shares of Intercontinental Exchange in a research note on Thursday, June 11th. Weiss Ratings lowered shares of Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. Piper Sandler cut their target price 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. Finally, Barclays restated an “overweight” rating and issued a $182.00 target price (up from $180.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. One investment 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. According to data from MarketBeat.com, Intercontinental Exchange presently has an average rating of “Moderate Buy” and a consensus price target of $183.33.

Insider Activity

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 shares were sold at an average price of $139.46, for a total value of $185,900.18. Following the sale, the director directly owned 20,132 shares of the company’s stock, valued at approximately $2,807,608.72. This represents a 6.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Andrew J. Surdykowski sold 4,573 shares of the stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $151.56, for a total value of $693,083.88. Following the sale, the general counsel directly owned 45,473 shares in the company, valued at $6,891,887.88. This represents a 9.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 18,376 shares of company stock valued at $2,746,946 over the last quarter. Insiders own 0.84% of the company’s stock.

Intercontinental Exchange Price Performance

Shares of NYSE:ICE opened at $157.04 on Thursday. Intercontinental Exchange Inc. has a twelve month low of $121.79 and a twelve month high of $181.72. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63. The company has a market cap of $88.16 billion, a PE ratio of 22.18, a price-to-earnings-growth ratio of 1.53 and a beta of 0.92. The company’s 50 day moving average is $141.53 and its 200 day moving average is $151.73.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.90 EPS for the quarter, beating the consensus estimate of $1.84 by $0.06. The business had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $2.63 billion. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The business’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.81 EPS. On average, sell-side analysts forecast that Intercontinental Exchange Inc. will post 8.11 EPS for the current year.

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.