Port Capital LLC Purchases 3,088 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Port Capital LLC raised its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 0.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 379,576 shares of the financial services provider’s stock after acquiring an additional 3,088 shares during the period. Intercontinental Exchange comprises approximately 2.7% of Port Capital LLC’s portfolio, making the stock its 15th biggest holding. Port Capital LLC owned about 0.07% of Intercontinental Exchange worth $60,975,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in ICE. Assenagon Asset Management S.A. lifted its stake in Intercontinental Exchange by 819.7% in the second quarter. Assenagon Asset Management S.A. now owns 137,074 shares of the financial services provider’s stock worth $18,764,000 after purchasing an additional 122,169 shares during the last quarter. BDF Gestion bought a new stake in Intercontinental Exchange in the second quarter valued at approximately $2,849,000. Burke & Herbert Bank & Trust Co. purchased a new stake in shares of Intercontinental Exchange during the second quarter valued at approximately $1,366,000. Blue Trust Inc. grew its holdings in shares of Intercontinental Exchange by 312.4% in the second quarter. Blue Trust Inc. now owns 5,180 shares of the financial services provider’s stock worth $712,000 after purchasing an additional 3,924 shares during the last quarter. Finally, GDS Wealth Management increased its stake in shares of Intercontinental Exchange by 5.3% in the third quarter. GDS Wealth Management now owns 103,412 shares of the financial services provider’s stock worth $16,612,000 after buying an additional 5,226 shares during the period. 89.30% of the stock is owned by hedge funds and other institutional investors.

Intercontinental Exchange Trading Down 1.3 %

Shares of NYSE ICE opened at $156.26 on Wednesday. The company has a market cap of $89.72 billion, a PE ratio of 37.03, a P/E/G ratio of 2.61 and a beta of 1.08. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.00 and a current ratio of 1.00. The firm’s 50 day moving average price is $160.53 and its 200-day moving average price is $152.34. Intercontinental Exchange, Inc. has a 52-week low of $111.82 and a 52-week high of $167.99.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, October 31st. The financial services provider reported $1.55 EPS for the quarter, hitting analysts’ consensus estimates of $1.55. The business had revenue of $2.35 billion during 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 company’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.46 EPS. On average, equities research analysts expect that Intercontinental Exchange, Inc. will post 6.07 EPS for the current fiscal year.

Insiders Place Their Bets

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the business’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $159.57, for a total transaction of $326,799.36. Following the completion of the sale, the general counsel now directly owns 44,865 shares in the company, valued at approximately $7,159,108.05. The trade was a 4.37 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Benjamin Jackson sold 5,828 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $160.00, for a total value of $932,480.00. Following the completion of the transaction, the president now owns 156,163 shares in the company, valued at approximately $24,986,080. This trade represents a 3.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 9,696 shares of company stock valued at $1,554,559. 1.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

ICE has been the topic of a number of recent analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 price target on shares of Intercontinental Exchange in a report on Friday, November 1st. Bank of America lifted their price objective on Intercontinental Exchange from $168.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Piper Sandler raised their price target on Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. JPMorgan Chase & Co. upped their price objective on shares of Intercontinental Exchange from $171.00 to $188.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Finally, The Goldman Sachs Group increased their price target on shares of Intercontinental Exchange from $171.00 to $185.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $174.13.

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.