Federated Hermes Inc. Acquires 8,109 Shares of Intercontinental Exchange Inc. $ICE

Federated Hermes Inc. raised its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 2.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 405,802 shares of the financial services provider’s stock after purchasing an additional 8,109 shares during the period. Federated Hermes Inc. owned approximately 0.07% of Intercontinental Exchange worth $68,370,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Intercontinental Exchange by 1.4% in the second quarter. Vanguard Group Inc. now owns 53,685,491 shares of the financial services provider’s stock valued at $9,849,677,000 after buying an additional 745,135 shares in the last quarter. Geode Capital Management LLC grew its position in Intercontinental Exchange by 1.2% during the second quarter. Geode Capital Management LLC now owns 12,438,154 shares of the financial services provider’s stock worth $2,270,657,000 after buying an additional 145,961 shares in the last quarter. Norges Bank bought a new position in Intercontinental Exchange during the 2nd quarter worth $1,542,780,000. Sands Capital Management LLC raised its holdings in Intercontinental Exchange by 97.3% in the 2nd quarter. Sands Capital Management LLC now owns 5,313,039 shares of the financial services provider’s stock valued at $974,783,000 after acquiring an additional 2,620,310 shares in the last quarter. Finally, Legal & General Group Plc raised its holdings in Intercontinental Exchange by 4.1% in the 2nd quarter. Legal & General Group Plc now owns 3,510,634 shares of the financial services provider’s stock valued at $644,096,000 after acquiring an additional 137,685 shares in the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Insider Activity

In other news, Director Judith A. Sprieser sold 3,700 shares of the company’s stock in a transaction on Friday, December 5th. The shares were sold at an average price of $157.96, for a total transaction of $584,452.00. Following the completion of the transaction, the director directly owned 14,469 shares in the company, valued at approximately $2,285,523.24. This represents a 20.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $153.08, for a total value of $22,962,000.00. Following the completion of the transaction, the chief executive officer owned 1,801,705 shares of the company’s stock, valued at $275,805,001.40. The trade was a 7.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 166,068 shares of company stock valued at $25,470,702. 1.00% of the stock is currently owned by insiders.

Intercontinental Exchange Stock Down 0.5%

ICE stock opened at $172.40 on Thursday. The firm has a 50-day moving average price of $163.18 and a 200-day moving average price of $166.98. Intercontinental Exchange Inc. has a 12 month low of $143.17 and a 12 month high of $189.35. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $98.30 billion, a P/E ratio of 31.40, a price-to-earnings-growth ratio of 2.14 and a beta of 1.03.

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

Analyst Ratings Changes

Several analysts have recently issued reports on the company. TD Cowen reissued a “buy” rating on shares of Intercontinental Exchange in a report on Wednesday, January 14th. Piper Sandler reaffirmed an “overweight” rating and set a $195.00 price objective (down previously from $202.00) on shares of Intercontinental Exchange in a research report on Wednesday, January 14th. Morgan Stanley set a $180.00 target price on shares of Intercontinental Exchange and gave the company an “equal weight” rating in a report on Thursday, January 15th. UBS Group restated a “buy” rating on shares of Intercontinental Exchange in a research report on Wednesday, January 7th. Finally, Wall Street Zen downgraded shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Saturday, January 24th. One equities research 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 stock. According to MarketBeat, Intercontinental Exchange presently has a consensus rating of “Buy” and an average price target of $193.50.

Intercontinental Exchange Company 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.