Bank of New York Mellon Corp Boosts Position in Intercontinental Exchange Inc. $ICE

Bank of New York Mellon Corp raised its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 0.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,649,567 shares of the financial services provider’s stock after purchasing an additional 8,965 shares during the period. Bank of New York Mellon Corp owned about 0.99% of Intercontinental Exchange worth $951,839,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Ballentine Partners LLC grew its position in shares of Intercontinental Exchange by 6.1% in the 3rd quarter. Ballentine Partners LLC now owns 8,208 shares of the financial services provider’s stock worth $1,383,000 after buying an additional 471 shares during the last quarter. Federated Hermes Inc. grew its holdings in Intercontinental Exchange by 2.0% in the third quarter. Federated Hermes Inc. now owns 405,802 shares of the financial services provider’s stock worth $68,370,000 after purchasing an additional 8,109 shares during the last quarter. Truist Financial Corp increased its position in shares of Intercontinental Exchange by 1.0% during the third quarter. Truist Financial Corp now owns 117,328 shares of the financial services provider’s stock worth $19,767,000 after purchasing an additional 1,177 shares in the last quarter. J. Safra Sarasin Holding AG purchased a new stake in shares of Intercontinental Exchange during the 3rd quarter valued at $243,000. Finally, Phoenix Financial Ltd. acquired a new stake in shares of Intercontinental Exchange in the 3rd quarter worth $1,516,000. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Price Performance

NYSE:ICE opened at $173.34 on Wednesday. The stock has a 50 day moving average of $162.81 and a two-hundred day moving average of $166.94. Intercontinental Exchange Inc. has a 12 month low of $143.17 and a 12 month high of $189.35. The firm has a market cap of $98.84 billion, a P/E ratio of 31.57, a price-to-earnings-growth ratio of 2.17 and a beta of 1.03. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, October 30th. The financial services provider reported $1.71 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.71. The company had revenue of $3.01 billion for the quarter, compared to analyst estimates of $2.49 billion. Intercontinental Exchange had a return on equity of 13.79% and a net margin of 25.24%.The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.55 earnings per share. On average, analysts expect that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, Director Judith A. Sprieser sold 3,700 shares of the company’s stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $157.96, for a total transaction of $584,452.00. Following the sale, the director owned 14,469 shares in the company, valued at $2,285,523.24. This represents a 20.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Mayur Kapani sold 5,345 shares of the company’s stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $156.67, for a total transaction of $837,401.15. Following the sale, the chief technology officer owned 65,240 shares in the company, valued at $10,221,150.80. The trade was a 7.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 166,068 shares of company stock valued at $25,470,702 over the last ninety days. 1.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. TD Cowen reiterated a “buy” rating on shares of Intercontinental Exchange in a research note on Wednesday, January 14th. Wall Street Zen downgraded shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Saturday. JPMorgan Chase & Co. dropped their price objective on shares of Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating on the stock in a report on Friday, October 31st. Piper Sandler restated an “overweight” rating and issued a $195.00 target price (down previously from $202.00) on shares of Intercontinental Exchange in a research note on Wednesday, January 14th. Finally, Morgan Stanley set a $180.00 price target on Intercontinental Exchange and gave the stock an “equal weight” rating in a research report on Thursday, January 15th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $193.50.

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.