Two Sigma Advisers LP Buys 1,301,200 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Two Sigma Advisers LP raised its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 285.9% during the third quarter, HoldingsChannel reports. The institutional investor owned 1,756,400 shares of the financial services provider’s stock after acquiring an additional 1,301,200 shares during the period. Two Sigma Advisers LP’s holdings in Intercontinental Exchange were worth $282,148,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ICE. Simplicity Wealth LLC lifted its stake in shares of Intercontinental Exchange by 1.8% in the 2nd quarter. Simplicity Wealth LLC now owns 9,777 shares of the financial services provider’s stock valued at $1,338,000 after purchasing an additional 170 shares during the period. QRG Capital Management Inc. lifted its stake in shares of Intercontinental Exchange by 1.6% in the 2nd quarter. QRG Capital Management Inc. now owns 15,750 shares of the financial services provider’s stock valued at $2,156,000 after purchasing an additional 248 shares during the period. Sendero Wealth Management LLC lifted its stake in shares of Intercontinental Exchange by 2.8% in the 2nd quarter. Sendero Wealth Management LLC now owns 53,037 shares of the financial services provider’s stock valued at $7,260,000 after purchasing an additional 1,450 shares during the period. Opal Wealth Advisors LLC acquired a new position in shares of Intercontinental Exchange in the 2nd quarter valued at about $82,000. Finally, JGP Wealth Management LLC lifted its stake in shares of Intercontinental Exchange by 1.0% in the 2nd quarter. JGP Wealth Management LLC now owns 77,279 shares of the financial services provider’s stock valued at $10,579,000 after purchasing an additional 739 shares during the period. 89.30% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the 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 completion of the transaction, the general counsel now directly owns 44,865 shares of the company’s stock, valued at approximately $7,159,108.05. This represents a 4.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Christopher Scott Edmonds sold 602 shares of the stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total value of $98,011.62. Following the transaction, the insider now directly owns 14,034 shares of the company’s stock, valued at approximately $2,284,875.54. This trade represents a 4.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,696 shares of company stock valued at $1,554,559 over the last three months. Corporate insiders own 1.10% of the company’s stock.

Intercontinental Exchange Stock Performance

ICE stock opened at $156.37 on Friday. The firm has a market cap of $89.78 billion, a PE ratio of 37.05, a P/E/G ratio of 2.58 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. The business has a 50 day moving average of $160.43 and a 200-day moving average of $152.40. Intercontinental Exchange, Inc. has a 12-month low of $111.82 and a 12-month high of $167.99.

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 the consensus estimate of $1.55. The company 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%. Intercontinental Exchange’s quarterly revenue was up 17.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.46 earnings per share. As a group, sell-side analysts expect that Intercontinental Exchange, Inc. will post 6.07 earnings per share for the current year.

Analyst Upgrades and Downgrades

ICE has been the topic of a number of research reports. StockNews.com raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Thursday. The Goldman Sachs Group upped their price target on Intercontinental Exchange from $171.00 to $185.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. 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. JPMorgan Chase & Co. upped their price target on Intercontinental Exchange from $171.00 to $188.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Intercontinental Exchange from $160.00 to $163.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. Three equities research 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 stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $174.13.

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.