Quadrant Capital Group LLC Acquires 13,016 Shares of Intercontinental Exchange Inc. $ICE

Quadrant Capital Group LLC bought a new stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 13,016 shares of the financial services provider’s stock, valued at approximately $2,036,000.

A number of other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. bought a new stake in Intercontinental Exchange in the second quarter worth about $6,245,085,000. State Street Corp lifted its holdings in Intercontinental Exchange by 1.6% in the 2nd quarter. State Street Corp now owns 25,966,680 shares of the financial services provider’s stock valued at $3,196,758,000 after acquiring an additional 415,490 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Intercontinental Exchange by 16.1% in the 2nd quarter. Wellington Management Group LLP now owns 11,812,273 shares of the financial services provider’s stock valued at $1,454,209,000 after acquiring an additional 1,634,385 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Intercontinental Exchange during the 2nd quarter valued at about $714,869,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Intercontinental Exchange by 1.0% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,298,162 shares of the financial services provider’s stock valued at $652,257,000 after purchasing an additional 52,910 shares in the last quarter. 89.30% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ICE has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $178.00 price objective (up from $169.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. Piper Sandler restated an “overweight” rating and issued a $195.00 price target (up from $190.00) on shares of Intercontinental Exchange in a research report on Friday, October 2nd. Jefferies Financial Group decreased their price objective on Intercontinental Exchange from $189.00 to $185.00 in a research report on Wednesday, October 7th. The Goldman Sachs Group raised their price target on shares of Intercontinental Exchange from $192.00 to $195.00 and gave the stock a “buy” rating in a report on Friday, October 2nd. Finally, TD Cowen boosted their price objective on shares of Intercontinental Exchange from $166.00 to $167.00 and gave the company a “hold” rating in a research report on Monday, October 12th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $186.31.

Intercontinental Exchange Stock Up 3.9%

ICE stock opened at $163.82 on Friday. The firm has a market cap of $91.97 billion, a PE ratio of 23.14, a PEG ratio of 1.46 and a beta of 0.94. Intercontinental Exchange Inc. has a 1 year low of $121.79 and a 1 year high of $176.05. The company has a fifty day simple moving average of $157.10 and a 200 day simple moving average of $150.81. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.90 earnings per share for the quarter, beating 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 business had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $2.63 billion. During the same period last year, the business earned $1.81 EPS. The firm’s revenue was up 4.8% compared to the same quarter last year. Sell-side analysts anticipate that Intercontinental Exchange Inc. will post 8.20 EPS for the current fiscal year.

Insiders Place Their Bets

In other Intercontinental Exchange news, insider Christopher Edmonds sold 5,000 shares of the firm’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $160.59, for a total value of $802,950.00. Following the sale, the insider directly owned 14,367 shares in the company, valued at $2,307,196.53. This trade represents a 25.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Douglas Foley sold 7,300 shares of the business’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $148.88, for a total value of $1,086,824.00. Following the transaction, the senior vice president owned 19,063 shares in the company, valued at $2,838,099.44. This represents a 27.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 41,179 shares of company stock valued at $6,473,715 in the last ninety days. Company insiders own 0.84% of the company’s stock.

About Intercontinental Exchange

Intercontinental Exchange, Inc (NYSE:ICE) is a global operator of exchanges, clearinghouses, data services and technology platforms. The company owns and operates the New York Stock Exchange and other exchanges serving equity, options, futures and over-the-counter markets. Its marketplaces support trading in areas including energy, agricultural commodities, interest rates, currencies, equity indexes and individual stocks.

ICE also provides clearing and settlement services that help manage counterparty and transaction risk, along with market data, analytics, connectivity and other technology solutions for financial institutions and businesses.