First Commonwealth Financial Corp PA Has $798,000 Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

First Commonwealth Financial Corp PA grew its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 3.0% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 4,969 shares of the financial services provider’s stock after purchasing an additional 145 shares during the period. First Commonwealth Financial Corp PA’s holdings in Intercontinental Exchange were worth $798,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. FMR LLC raised its position in Intercontinental Exchange by 44.1% in the 3rd quarter. FMR LLC now owns 7,846,421 shares of the financial services provider’s stock valued at $1,260,449,000 after buying an additional 2,401,630 shares during the last quarter. Parnassus Investments LLC raised its holdings in shares of Intercontinental Exchange by 4.0% in the third quarter. Parnassus Investments LLC now owns 7,838,727 shares of the financial services provider’s stock valued at $1,259,213,000 after purchasing an additional 299,037 shares during the last quarter. Legal & General Group Plc lifted its position in shares of 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 valued at $609,609,000 after purchasing an additional 191,763 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Intercontinental Exchange by 0.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,142,092 shares of the financial services provider’s stock worth $504,746,000 after purchasing an additional 21,615 shares during the last quarter. Finally, Clearbridge Investments LLC grew its position in 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 purchasing an additional 284,664 shares in the last quarter. 89.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $168.00 target price on shares of Intercontinental Exchange in a report on Tuesday, August 6th. TD Cowen started coverage on Intercontinental Exchange in a research note on Thursday, September 26th. They issued a “buy” rating and a $182.00 price objective for the company. Bank of America raised their target price on Intercontinental Exchange from $168.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. StockNews.com raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Finally, Piper Sandler raised their price objective on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $174.13.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the company’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 owns 44,865 shares of the company’s stock, valued at $7,159,108.05. This represents a 4.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Warren Gardiner sold 750 shares of Intercontinental Exchange stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $161.43, for a total transaction of $121,072.50. Following the transaction, the chief financial officer now directly owns 16,576 shares in the company, valued at $2,675,863.68. This trade represents a 4.33 % decrease in their ownership of the stock. 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 quarter. Insiders own 1.10% of the company’s stock.

Intercontinental Exchange Price Performance

NYSE:ICE traded up $1.21 during mid-day trading on Wednesday, hitting $161.70. 155,732 shares of the stock traded hands, compared to its average volume of 2,566,876. Intercontinental Exchange, Inc. has a 12-month low of $111.82 and a 12-month high of $167.99. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.68. The company has a market cap of $92.84 billion, a PE ratio of 38.03, a price-to-earnings-growth ratio of 2.64 and a beta of 1.08. The business’s 50-day moving average price is $160.55 and its 200 day moving average price is $151.52.

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 the consensus estimate of $1.55. The business had revenue of $2.35 billion during the quarter, compared to analysts’ expectations 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 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. On average, analysts expect that Intercontinental Exchange, Inc. will post 6.07 EPS for the current fiscal year.

Intercontinental Exchange Company 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.