Baldwin Investment Management LLC Increases Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

Baldwin Investment Management LLC boosted its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 0.7% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 13,527 shares of the financial services provider’s stock after purchasing an additional 100 shares during the period. Baldwin Investment Management LLC’s holdings in Intercontinental Exchange were worth $2,173,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Quintet Private Bank Europe S.A. grew its position in Intercontinental Exchange by 13.8% during the 3rd quarter. Quintet Private Bank Europe S.A. now owns 511 shares of the financial services provider’s stock valued at $82,000 after purchasing an additional 62 shares during the last quarter. Raleigh Capital Management Inc. grew its holdings in shares of Intercontinental Exchange by 26.4% during the third quarter. Raleigh Capital Management Inc. now owns 302 shares of the financial services provider’s stock valued at $49,000 after buying an additional 63 shares during the last quarter. Integrated Advisors Network LLC raised its holdings in Intercontinental Exchange by 4.0% in the 3rd quarter. Integrated Advisors Network LLC now owns 1,714 shares of the financial services provider’s stock worth $275,000 after acquiring an additional 66 shares during the last quarter. American National Bank lifted its position in Intercontinental Exchange by 13.8% in the 2nd quarter. American National Bank now owns 569 shares of the financial services provider’s stock valued at $78,000 after acquiring an additional 69 shares in the last quarter. Finally, Catalyst Capital Advisors LLC lifted its position in Intercontinental Exchange by 6.2% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 1,197 shares of the financial services provider’s stock valued at $192,000 after acquiring an additional 70 shares in the last quarter. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on ICE shares. Barclays decreased their price target on Intercontinental Exchange from $179.00 to $173.00 and set an “overweight” rating for the company in a research note on Friday, November 1st. Bank of America boosted their price target on Intercontinental Exchange from $168.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Piper Sandler increased their price objective on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Intercontinental Exchange from $160.00 to $163.00 and gave the company a “hold” rating in a report on Monday, November 11th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price target on shares of Intercontinental Exchange in a research note on Friday, November 1st. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $174.13.

Insider Transactions at Intercontinental Exchange

In other news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $159.57, for a total value of $326,799.36. Following the completion of the sale, the general counsel now directly owns 44,865 shares of the company’s stock, valued at $7,159,108.05. This trade represents a 4.37 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Stuart Glen Williams sold 468 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $162.81, for a total transaction of $76,195.08. Following the completion of the sale, the chief operating officer now directly owns 13,530 shares of the company’s stock, valued at approximately $2,202,819.30. The trade was a 3.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,868 shares of company stock valued at $622,079 in the last ninety days. Corporate insiders own 1.10% of the company’s stock.

Intercontinental Exchange Stock Up 0.5 %

ICE opened at $160.49 on Wednesday. The company has a market capitalization of $92.15 billion, a PE ratio of 38.03, a price-to-earnings-growth ratio of 2.64 and a beta of 1.08. The firm has a 50-day simple moving average of $160.55 and a two-hundred day simple moving average of $151.52. 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, 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 company had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.35 billion. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The firm’s revenue for the quarter was up 17.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.46 earnings per share. Analysts forecast that Intercontinental Exchange, Inc. will post 6.07 earnings per share for the current fiscal year.

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.