Advisors Capital Management LLC Raises Stake in Intercontinental Exchange Inc. $ICE

Advisors Capital Management LLC boosted its position in Intercontinental Exchange Inc. (NYSE:ICE) by 25.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,978 shares of the financial services provider’s stock after buying an additional 396 shares during the period. Advisors Capital Management LLC’s holdings in Intercontinental Exchange were worth $341,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. Fielder Capital Group LLC boosted its stake in shares of Intercontinental Exchange by 2.2% in the first quarter. Fielder Capital Group LLC now owns 2,808 shares of the financial services provider’s stock valued at $484,000 after buying an additional 61 shares in the last quarter. E Fund Management Co. Ltd. boosted its position in Intercontinental Exchange by 4.2% during the first quarter. E Fund Management Co. Ltd. now owns 1,500 shares of the financial services provider’s stock worth $259,000 after purchasing an additional 61 shares in the last quarter. Berkeley Capital Partners LLC boosted its position in Intercontinental Exchange by 1.1% during the first quarter. Berkeley Capital Partners LLC now owns 5,639 shares of the financial services provider’s stock worth $973,000 after purchasing an additional 62 shares in the last quarter. GPS Wealth Strategies Group LLC boosted its position in Intercontinental Exchange by 17.2% during the first quarter. GPS Wealth Strategies Group LLC now owns 430 shares of the financial services provider’s stock worth $74,000 after purchasing an additional 63 shares in the last quarter. Finally, Values Added Financial LLC boosted its position in Intercontinental Exchange by 4.4% during the first quarter. Values Added Financial LLC now owns 1,533 shares of the financial services provider’s stock worth $264,000 after purchasing an additional 64 shares in the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on ICE. Barclays boosted their target price on Intercontinental Exchange from $206.00 to $212.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Piper Sandler boosted their target price on Intercontinental Exchange from $180.00 to $202.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 15th. Finally, UBS Group boosted their target price on Intercontinental Exchange from $195.00 to $210.00 and gave the stock a “buy” rating in a research report on Tuesday, July 8th. Ten equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $194.92.

Insider Transactions at Intercontinental Exchange

In related news, SVP Douglas Foley sold 1,600 shares of the stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $175.62, for a total value of $280,992.00. Following the completion of the transaction, the senior vice president owned 25,796 shares of the company’s stock, valued at approximately $4,530,293.52. This represents a 5.84% 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, Director Duriya M. Farooqui sold 2,036 shares of the stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $178.34, for a total value of $363,100.24. Following the completion of the transaction, the director directly owned 14,299 shares of the company’s stock, valued at $2,550,083.66. This represents a 12.46% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 230,730 shares of company stock valued at $42,171,892 in the last three months. 1.00% of the stock is currently owned by company insiders.

Intercontinental Exchange Stock Performance

Shares of NYSE:ICE opened at $174.02 on Friday. The firm has a market capitalization of $99.61 billion, a PE ratio of 33.40, a P/E/G ratio of 2.10 and a beta of 1.10. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01. The business has a 50-day moving average of $180.62 and a two-hundred day moving average of $174.99. Intercontinental Exchange Inc. has a 12 month low of $142.29 and a 12 month high of $189.35.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, July 31st. The financial services provider reported $1.81 EPS for the quarter, topping the consensus estimate of $1.77 by $0.04. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.The company had revenue of $3.26 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same period in the prior year, the firm posted $1.52 earnings per share. The firm’s revenue was up 9.8% on a year-over-year basis. As a group, research analysts forecast that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

About Intercontinental Exchange

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.