Vaughan Nelson Investment Management L.P. Raises Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Vaughan Nelson Investment Management L.P. boosted its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 4.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,522,172 shares of the financial services provider’s stock after purchasing an additional 70,565 shares during the period. Intercontinental Exchange comprises approximately 2.2% of Vaughan Nelson Investment Management L.P.’s investment portfolio, making the stock its 8th biggest position. Vaughan Nelson Investment Management L.P. owned approximately 0.27% of Intercontinental Exchange worth $244,522,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Legal & General Group Plc raised its stake in Intercontinental Exchange by 4.5% during the second quarter. Legal & General Group Plc now owns 4,453,286 shares of the financial services provider’s stock worth $609,609,000 after buying an additional 191,763 shares during the last quarter. Clearbridge Investments LLC raised its position in shares of Intercontinental Exchange by 10.4% in the 2nd quarter. Clearbridge Investments LLC now owns 3,019,195 shares of the financial services provider’s stock worth $413,298,000 after acquiring an additional 284,664 shares in the last quarter. Bessemer Group Inc. lifted its stake in shares of Intercontinental Exchange by 0.7% in the 1st quarter. Bessemer Group Inc. now owns 2,795,043 shares of the financial services provider’s stock valued at $384,122,000 after purchasing an additional 19,127 shares during the period. Raymond James & Associates grew its stake in Intercontinental Exchange by 11.1% during the third quarter. Raymond James & Associates now owns 2,535,785 shares of the financial services provider’s stock worth $407,348,000 after purchasing an additional 253,324 shares during the period. Finally, AGF Management Ltd. increased its holdings in Intercontinental Exchange by 11.0% in the second quarter. AGF Management Ltd. now owns 2,208,036 shares of the financial services provider’s stock worth $302,258,000 after purchasing an additional 218,516 shares in the last quarter. 89.30% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Intercontinental Exchange news, CAO James W. Namkung sold 1,171 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $160.00, for a total value of $187,360.00. Following the transaction, the chief accounting officer now directly owns 16,665 shares in the company, valued at $2,666,400. The trade was a 6.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $326,799.36. Following the sale, the general counsel now owns 44,865 shares of the company’s stock, valued at approximately $7,159,108.05. The trade was a 4.37 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,489 shares of company stock valued at $1,202,259. 1.10% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. The Goldman Sachs Group lifted their price objective on shares of Intercontinental Exchange from $171.00 to $185.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. StockNews.com raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Piper Sandler upped 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. Barclays reduced their price objective 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. Finally, TD Cowen started coverage on Intercontinental Exchange in a research report on Thursday, September 26th. They set a “buy” rating and a $182.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $174.13.

Intercontinental Exchange Price Performance

Intercontinental Exchange stock opened at $155.55 on Friday. Intercontinental Exchange, Inc. has a 52 week low of $110.64 and a 52 week high of $167.99. The company’s 50 day moving average price is $160.97 and its two-hundred day moving average price is $150.07. The stock has a market cap of $89.31 billion, a P/E ratio of 36.86, a P/E/G ratio of 2.57 and a beta of 1.08. 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 issued its quarterly 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 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%. Intercontinental Exchange’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same period last year, the company posted $1.46 earnings per share. On average, equities analysts predict that Intercontinental Exchange, Inc. will post 6.07 earnings per share for the current 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.