4,231 Shares in Intercontinental Exchange Inc. $ICE Acquired by Portfolio Design Labs LLC

Portfolio Design Labs LLC bought a new stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 4,231 shares of the financial services provider’s stock, valued at approximately $521,000.

Several other large investors also recently added to or reduced their stakes in ICE. Ares Financial Consulting LLC bought a new stake in shares of Intercontinental Exchange during the 4th quarter valued at $25,000. Brooklands Fund Management Ltd bought a new position in Intercontinental Exchange in the 4th quarter worth $28,000. Swiss RE Ltd. purchased a new position in Intercontinental Exchange during the fourth quarter valued at $28,000. Lloyd Advisory Services LLC. purchased a new position in Intercontinental Exchange during the fourth quarter valued at $30,000. Finally, Gables Capital Management Inc. bought a new stake in Intercontinental Exchange during the second quarter valued at about $31,000. 89.30% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Piper Sandler reduced their price target on Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating for the company in a research report on Wednesday, July 15th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $178.00 price objective on shares of Intercontinental Exchange in a research report on Friday, July 31st. Raymond James Financial set a $208.00 target price on shares of Intercontinental Exchange in a report on Monday, July 6th. Barclays restated an “overweight” rating and set a $182.00 target price (up from $180.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. Finally, Weiss Ratings downgraded shares of Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, August 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $183.33.

Insiders Place Their Bets

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 4,573 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $151.56, for a total transaction of $693,083.88. Following the completion of the sale, the general counsel directly owned 45,473 shares of the company’s stock, valued at $6,891,887.88. This trade represents a 9.14% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director William Jefferson Hague sold 1,333 shares of Intercontinental Exchange 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 sale, the director owned 20,132 shares in the company, valued at approximately $2,807,608.72. The trade was a 6.21% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 17,709 shares of company stock worth $2,646,042 over the last quarter. Company insiders own 0.84% of the company’s stock.

Intercontinental Exchange Price Performance

NYSE:ICE opened at $158.68 on Friday. The business’s 50-day simple moving average is $141.92 and its two-hundred day simple moving average is $151.63. Intercontinental Exchange Inc. has a 52 week low of $121.79 and a 52 week high of $181.65. The stock has a market cap of $89.08 billion, a PE ratio of 22.41, a P/E/G ratio of 1.55 and a beta of 0.92. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.84 by $0.06. Intercontinental Exchange had a return on equity of 14.95% and a net margin of 30.08%.The firm had revenue of $3.61 billion during the quarter, compared to analyst estimates of $2.63 billion. During the same quarter in the prior year, the company posted $1.81 earnings per share. The business’s quarterly revenue was up 4.8% compared to the same quarter last year. As a group, analysts forecast that Intercontinental Exchange Inc. will post 8.11 EPS for the current fiscal 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.