Intercontinental Exchange, Inc. (NYSE:ICE) Shares Bought by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. raised its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 11.3% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 41,962 shares of the financial services provider’s stock after buying an additional 4,260 shares during the period. Brown Brothers Harriman & Co.’s holdings in Intercontinental Exchange were worth $6,741,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of ICE. Assenagon Asset Management S.A. increased its position in Intercontinental Exchange by 819.7% during the second quarter. Assenagon Asset Management S.A. now owns 137,074 shares of the financial services provider’s stock worth $18,764,000 after purchasing an additional 122,169 shares during the last quarter. BDF Gestion purchased a new stake in shares of Intercontinental Exchange during the 2nd quarter valued at approximately $2,849,000. Burke & Herbert Bank & Trust Co. purchased a new stake in shares of Intercontinental Exchange during the 2nd quarter valued at approximately $1,366,000. Blue Trust Inc. lifted its holdings in Intercontinental Exchange by 312.4% in the second quarter. Blue Trust Inc. now owns 5,180 shares of the financial services provider’s stock valued at $712,000 after acquiring an additional 3,924 shares during the last quarter. Finally, GDS Wealth Management grew its position in Intercontinental Exchange by 5.3% in the third quarter. GDS Wealth Management now owns 103,412 shares of the financial services provider’s stock worth $16,612,000 after acquiring an additional 5,226 shares during the period. 89.30% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, COO Stuart Glen Williams sold 468 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $162.81, for a total transaction of $76,195.08. Following the completion of the sale, the chief operating officer now owns 13,530 shares in the company, valued at $2,202,819.30. The trade was a 3.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 2,048 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $159.57, for a total value of $326,799.36. Following the completion of the transaction, the general counsel now directly owns 44,865 shares of the company’s stock, valued at $7,159,108.05. This trade represents a 4.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,868 shares of company stock worth $622,079. Corporate insiders own 1.10% of the company’s stock.

Intercontinental Exchange Stock Performance

Shares of ICE opened at $159.60 on Tuesday. Intercontinental Exchange, Inc. has a 1 year low of $111.82 and a 1 year high of $167.99. The stock has a market capitalization of $91.64 billion, a PE ratio of 37.82, a PEG ratio of 2.63 and a beta of 1.08. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a 50-day simple moving average of $160.59 and a 200-day simple moving average of $151.34.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.55. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The company had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter in the previous year, the firm earned $1.46 earnings per share. The firm’s quarterly revenue was up 17.3% on a year-over-year basis. On average, analysts predict that Intercontinental Exchange, Inc. will post 6.07 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Piper Sandler lifted their target price on Intercontinental Exchange from $170.00 to $180.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. The Goldman Sachs Group boosted their price objective on shares of Intercontinental Exchange from $171.00 to $185.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft increased their target price on shares of Intercontinental Exchange from $160.00 to $163.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $168.00 price target on shares of Intercontinental Exchange in a research note on Tuesday, August 6th. Finally, Raymond James lowered shares of Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 price objective on the stock. in a report on Monday, October 14th. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $174.13.

Intercontinental Exchange Company Profile

Intercontinental Exchange, Inc, together with its subsidiaries, engages in the provision of market infrastructure, data services, and technology solutions for financial institutions, corporations, and government entities in the United States, the United Kingdom, the European Union, Singapore, India, Abu Dhabi, Israel, and Canada.