Schwartz Investment Counsel Inc. Has $15.39 Million Stake in Intercontinental Exchange Inc. $ICE

Schwartz Investment Counsel Inc. raised its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 4.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 95,000 shares of the financial services provider’s stock after acquiring an additional 4,000 shares during the period. Schwartz Investment Counsel Inc.’s holdings in Intercontinental Exchange were worth $15,386,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. ICONIQ Capital LLC grew its stake in Intercontinental Exchange by 2.2% in the second quarter. ICONIQ Capital LLC now owns 2,621 shares of the financial services provider’s stock valued at $481,000 after acquiring an additional 56 shares during the period. Mechanics Financial Corp grew its stake in Intercontinental Exchange by 1.0% in the fourth quarter. Mechanics Financial Corp now owns 6,138 shares of the financial services provider’s stock valued at $994,000 after acquiring an additional 60 shares during the period. Aaron Wealth Advisors LLC grew its stake in Intercontinental Exchange by 1.9% in the fourth quarter. Aaron Wealth Advisors LLC now owns 3,384 shares of the financial services provider’s stock valued at $548,000 after acquiring an additional 63 shares during the period. Evergreen Capital Management LLC grew its stake in Intercontinental Exchange by 1.5% in the fourth quarter. Evergreen Capital Management LLC now owns 4,207 shares of the financial services provider’s stock valued at $681,000 after acquiring an additional 63 shares during the period. Finally, Sather Financial Group Inc grew its stake in Intercontinental Exchange by 4.7% in the fourth quarter. Sather Financial Group Inc now owns 1,440 shares of the financial services provider’s stock valued at $233,000 after acquiring an additional 64 shares during the period. 89.30% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, President Benjamin Jackson sold 3,865 shares of the company’s stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $153.73, for a total transaction of $594,166.45. Following the sale, the president owned 165,304 shares in the company, valued at approximately $25,412,183.92. This represents a 2.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Warren Gardiner sold 2,490 shares of the company’s stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $154.00, for a total value of $383,460.00. Following the sale, the chief financial officer owned 27,679 shares in the company, valued at $4,262,566. The trade was a 8.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 330,835 shares of company stock valued at $51,275,650. Corporate insiders own 0.84% of the company’s stock.

Analysts Set New Price Targets

ICE has been the subject of a number of research analyst reports. Piper Sandler reissued an “overweight” rating and issued a $211.00 target price (up from $195.00) on shares of Intercontinental Exchange in a research note on Wednesday, April 15th. Deutsche Bank Aktiengesellschaft raised Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 target price for the company in a research note on Friday, March 6th. Morgan Stanley boosted their price target on Intercontinental Exchange from $183.00 to $187.00 and gave the company an “equal weight” rating in a report on Friday, April 10th. UBS Group restated a “buy” rating and issued a $200.00 price target on shares of Intercontinental Exchange in a report on Monday, February 9th. Finally, TD Cowen restated a “buy” rating on shares of Intercontinental Exchange in a report on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $194.10.

Intercontinental Exchange Stock Performance

Shares of Intercontinental Exchange stock opened at $155.63 on Wednesday. The firm has a market cap of $88.01 billion, a price-to-earnings ratio of 22.65, a price-to-earnings-growth ratio of 1.46 and a beta of 0.96. The stock’s 50-day moving average is $159.88 and its 200-day moving average is $160.01. Intercontinental Exchange Inc. has a one year low of $143.17 and a one year high of $189.35. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, April 30th. The financial services provider reported $2.35 EPS for the quarter, beating analysts’ consensus estimates of $2.23 by $0.12. The company had revenue of $3.67 billion for the quarter, compared to analyst estimates of $2.88 billion. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The company’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.72 earnings per share. Equities analysts predict that Intercontinental Exchange Inc. will post 8.16 earnings per share for the current fiscal year.

Intercontinental Exchange Profile

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.