Adero Partners LLC Acquires New Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Adero Partners LLC bought a new position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,392 shares of the financial services provider’s stock, valued at approximately $224,000.

Several other hedge funds have also made changes to their positions in ICE. Manning & Napier Advisors LLC acquired a new position in Intercontinental Exchange in the second quarter valued at about $124,508,000. Janus Henderson Group PLC raised its stake in shares of Intercontinental Exchange by 589.4% in the 1st quarter. Janus Henderson Group PLC now owns 804,507 shares of the financial services provider’s stock valued at $110,559,000 after acquiring an additional 687,817 shares during the period. James Hambro & Partners acquired a new position in shares of Intercontinental Exchange in the 2nd quarter worth approximately $93,340,000. Assenagon Asset Management S.A. boosted its position in shares of Intercontinental Exchange by 426.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 721,474 shares of the financial services provider’s stock worth $115,898,000 after purchasing an additional 584,400 shares during the period. Finally, Samlyn Capital LLC increased its holdings in Intercontinental Exchange by 142.2% in the 2nd quarter. Samlyn Capital LLC now owns 835,654 shares of the financial services provider’s stock valued at $114,393,000 after purchasing an additional 490,671 shares during the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Insider Activity at Intercontinental Exchange

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 stock was sold at an average price of $159.57, for a total transaction of $326,799.36. Following 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Warren Gardiner sold 750 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $161.43, for a total value of $121,072.50. Following the sale, the chief financial officer now owns 16,576 shares in the company, valued at approximately $2,675,863.68. The trade was a 4.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,489 shares of company stock worth $1,202,259 over the last three months. 1.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ICE. Keefe, Bruyette & Woods restated an “outperform” rating and set a $168.00 price target on shares of Intercontinental Exchange in a research report on Tuesday, August 6th. The Goldman Sachs Group lifted their target price on Intercontinental Exchange from $171.00 to $185.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft increased their price target on shares of Intercontinental Exchange from $160.00 to $163.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Royal Bank of Canada restated an “outperform” rating and issued a $200.00 price objective on shares of Intercontinental Exchange in a report on Friday, November 1st. Finally, Morgan Stanley increased their target price on shares of Intercontinental Exchange from $160.00 to $174.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Intercontinental Exchange presently has an average rating of “Moderate Buy” and an average price target of $174.13.

Intercontinental Exchange Trading Down 0.6 %

ICE opened at $155.55 on Monday. The firm has a market cap of $89.31 billion, a price-to-earnings ratio of 36.86, a price-to-earnings-growth ratio of 2.57 and a beta of 1.08. Intercontinental Exchange, Inc. has a 52 week low of $110.64 and a 52 week high of $167.99. The business’s 50 day moving average is $160.97 and its two-hundred day moving average is $150.22. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.68.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.55. The business had revenue of $2.35 billion for 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 revenue for the quarter was up 17.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.46 earnings per share. On average, research analysts predict that Intercontinental Exchange, Inc. will post 6.07 EPS 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.