Intercontinental Exchange Inc. $ICE Stock Position Raised by AGF Management Ltd.

AGF Management Ltd. raised its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 6.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,376,952 shares of the financial services provider’s stock after purchasing an additional 84,891 shares during the period. Intercontinental Exchange makes up approximately 1.0% of AGF Management Ltd.’s holdings, making the stock its 24th biggest position. AGF Management Ltd. owned 0.24% of Intercontinental Exchange worth $231,989,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of ICE. Dynasty Wealth Management LLC purchased a new position in Intercontinental Exchange in the 3rd quarter valued at approximately $897,000. Fifth Third Wealth Advisors LLC increased its stake in Intercontinental Exchange by 37.7% in the third quarter. Fifth Third Wealth Advisors LLC now owns 11,920 shares of the financial services provider’s stock valued at $2,008,000 after purchasing an additional 3,261 shares during the last quarter. Eastern Bank increased its position in shares of Intercontinental Exchange by 14.6% in the 3rd quarter. Eastern Bank now owns 203,731 shares of the financial services provider’s stock worth $34,325,000 after purchasing an additional 25,980 shares during the last quarter. Horizon Kinetics Asset Management LLC increased its position in shares of Intercontinental Exchange by 1.6% in the second quarter. Horizon Kinetics Asset Management LLC now owns 831,758 shares of the financial services provider’s stock worth $152,603,000 after acquiring an additional 13,497 shares in the last quarter. Finally, Gateway Investment Advisers LLC grew its stake in shares of Intercontinental Exchange by 3.0% during the third quarter. Gateway Investment Advisers LLC now owns 273,010 shares of the financial services provider’s stock valued at $45,997,000 after purchasing an additional 8,006 shares during the last quarter. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Judith A. Sprieser sold 3,700 shares of the firm’s stock in a transaction on Friday, December 5th. The stock was 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 $2,285,523.24. This trade represents a 20.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Andrew J. Surdykowski sold 2,081 shares of the business’s stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $151.00, for a total value of $314,231.00. Following the completion of the transaction, the general counsel directly owned 44,212 shares in the company, valued at approximately $6,676,012. The trade was a 4.50% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 166,068 shares of company stock worth $25,470,702. 1.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on ICE shares. Barclays set a $182.00 price target on Intercontinental Exchange and gave the stock an “overweight” rating in a research report on Thursday, January 8th. Wall Street Zen cut shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Saturday, January 24th. Keefe, Bruyette & Woods upgraded Intercontinental Exchange to a “moderate buy” rating in a research report on Monday, October 6th. Piper Sandler reiterated an “overweight” rating and issued a $195.00 price objective (down from $202.00) on shares of Intercontinental Exchange in a research note on Wednesday, January 14th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating for the company in a research note on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $193.50.

Intercontinental Exchange Stock Down 0.8%

ICE stock opened at $173.66 on Monday. The stock has a market capitalization of $99.02 billion, a P/E ratio of 31.63, a P/E/G ratio of 2.10 and a beta of 1.02. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01. Intercontinental Exchange Inc. has a 1-year low of $143.17 and a 1-year high of $189.35. The business has a fifty day moving average price of $164.03 and a 200-day moving average price of $166.79.

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

About Intercontinental Exchange

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.