Inspire Trust Co. N.A. Buys 4,514 Shares of Intercontinental Exchange Inc. $ICE

Inspire Trust Co. N.A. boosted its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 19.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,514 shares of the financial services provider’s stock after acquiring an additional 4,514 shares during the quarter. Inspire Trust Co. N.A.’s holdings in Intercontinental Exchange were worth $4,456,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in ICE. Wellington Management Group LLP increased its stake in Intercontinental Exchange by 64.7% during the third quarter. Wellington Management Group LLP now owns 10,354,224 shares of the financial services provider’s stock worth $1,744,480,000 after acquiring an additional 4,067,922 shares during the last quarter. Mawer Investment Management Ltd. boosted its position in shares of Intercontinental Exchange by 179.1% during the third quarter. Mawer Investment Management Ltd. now owns 2,472,366 shares of the financial services provider’s stock valued at $416,544,000 after buying an additional 1,586,620 shares during the period. Waverton Investment Management Ltd boosted its position in shares of Intercontinental Exchange by 28,886.8% during the third quarter. Waverton Investment Management Ltd now owns 1,526,734 shares of the financial services provider’s stock valued at $257,163,000 after buying an additional 1,521,467 shares during the period. Swedbank AB boosted its position in shares of Intercontinental Exchange by 43.3% during the fourth quarter. Swedbank AB now owns 3,527,115 shares of the financial services provider’s stock valued at $571,252,000 after buying an additional 1,064,967 shares during the period. Finally, Capital World Investors boosted its position in shares of Intercontinental Exchange by 15.2% during the third quarter. Capital World Investors now owns 7,028,964 shares of the financial services provider’s stock valued at $1,184,238,000 after buying an additional 928,047 shares during the period. 89.30% of the stock is owned by institutional investors.

Intercontinental Exchange Stock Down 1.2%

Shares of NYSE ICE opened at $147.93 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market capitalization of $83.66 billion, a price-to-earnings ratio of 21.53, a PEG ratio of 1.39 and a beta of 0.96. The stock has a 50 day moving average price of $157.56 and a 200 day moving average price of $160.16. Intercontinental Exchange Inc. has a 52-week low of $143.17 and a 52-week high of $189.35.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.23 by $0.12. The firm had revenue of $3.67 billion during 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%.Intercontinental Exchange’s quarterly revenue was up 20.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.72 earnings per share. Sell-side analysts expect that Intercontinental Exchange Inc. will post 8.15 earnings per share for the current year.

Analyst Ratings Changes

ICE has been the subject of a number of recent analyst reports. Morgan Stanley boosted their price objective on Intercontinental Exchange from $183.00 to $187.00 and gave the company an “equal weight” rating in a report on Friday, April 10th. Deutsche Bank Aktiengesellschaft raised Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 price objective on the stock in a research report on Friday, March 6th. Keefe, Bruyette & Woods started coverage on Intercontinental Exchange in a research report on Wednesday, April 8th. They set an “outperform” rating and a $190.00 target price for the company. Piper Sandler reiterated an “overweight” rating and set a $211.00 target price (up from $195.00) on shares of Intercontinental Exchange in a research report on Wednesday, April 15th. Finally, Barclays reiterated an “overweight” rating and set a $201.00 target price (up from $198.00) on shares of Intercontinental Exchange in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $194.60.

Insider Transactions at Intercontinental Exchange

In related news, CTO Mayur Kapani sold 4,271 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $155.42, for a total value of $663,798.82. Following the completion of the sale, the chief technology officer owned 64,869 shares in the company, valued at approximately $10,081,939.98. The trade was a 6.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sharon Bowen sold 667 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $151.28, for a total value of $100,903.76. Following the completion of the sale, the director owned 15,077 shares of the company’s stock, valued at $2,280,848.56. The trade was a 4.24% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 12,001 shares of company stock worth $1,847,820 over the last three months. Company insiders own 0.84% of the company’s stock.

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.