M.D. Sass LLC Purchases Shares of 310,188 Intercontinental Exchange, Inc. (NYSE:ICE)

M.D. Sass LLC acquired a new position in Intercontinental Exchange, Inc. (NYSE:ICE) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 310,188 shares of the financial services provider’s stock, valued at approximately $49,829,000. Intercontinental Exchange makes up 3.7% of M.D. Sass LLC’s holdings, making the stock its 13th largest holding. M.D. Sass LLC owned approximately 0.05% of Intercontinental Exchange at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Wolff Wiese Magana LLC lifted its holdings in Intercontinental Exchange by 1,470.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 147 shares during the last quarter. Northwest Investment Counselors LLC bought a new stake in shares of Intercontinental Exchange in the 3rd quarter worth approximately $26,000. Financial Management Professionals Inc. lifted its stake in Intercontinental Exchange by 106.1% during the third quarter. Financial Management Professionals Inc. now owns 169 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 87 shares during the last quarter. Fairscale Capital LLC bought a new stake in Intercontinental Exchange during the second quarter worth approximately $25,000. Finally, Capital Performance Advisors LLP acquired a new position in Intercontinental Exchange in the third quarter worth approximately $29,000. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Down 0.3 %

Shares of NYSE ICE traded down $0.50 during mid-day trading on Tuesday, reaching $159.13. The company had a trading volume of 179,594 shares, compared to its average volume of 2,563,012. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.00 and a current ratio of 1.00. Intercontinental Exchange, Inc. has a twelve month low of $111.82 and a twelve month high of $167.99. The stock’s 50 day moving average is $160.59 and its 200-day moving average is $151.34. The stock has a market capitalization of $91.37 billion, a PE ratio of 37.82, a price-to-earnings-growth ratio of 2.63 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, hitting the consensus estimate of $1.55. The company had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.35 billion. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The business’s revenue was up 17.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.46 EPS. As a group, equities analysts anticipate that Intercontinental Exchange, Inc. will post 6.07 earnings per share for the current fiscal year.

Analyst Ratings Changes

ICE has been the subject of a number of recent research reports. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $168.00 price objective on shares of Intercontinental Exchange in a research report on Tuesday, August 6th. Raymond James lowered Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 price target for the company. in a research report on Monday, October 14th. Piper Sandler boosted their price objective on Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Morgan Stanley upped their price objective on shares of Intercontinental Exchange from $160.00 to $174.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 target price on shares of Intercontinental Exchange in a research report on Friday, November 1st. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $174.13.

Insider Activity at Intercontinental Exchange

In related news, COO Stuart Glen Williams sold 468 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total value of $76,195.08. Following the completion of the sale, the chief operating officer now directly owns 13,530 shares in the company, valued at approximately $2,202,819.30. This represents a 3.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Warren Gardiner sold 750 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $161.43, for a total value of $121,072.50. Following the transaction, the chief financial officer now owns 16,576 shares in the company, valued at approximately $2,675,863.68. This trade represents a 4.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,868 shares of company stock valued at $622,079. 1.10% of the stock is currently owned by corporate insiders.

Intercontinental Exchange 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.