Hyperion Capital Advisors LP Sells 4,666 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Hyperion Capital Advisors LP reduced its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 2.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 176,151 shares of the financial services provider’s stock after selling 4,666 shares during the quarter. Intercontinental Exchange makes up approximately 13.3% of Hyperion Capital Advisors LP’s portfolio, making the stock its biggest position. Hyperion Capital Advisors LP’s holdings in Intercontinental Exchange were worth $28,297,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Assenagon Asset Management S.A. increased its stake in Intercontinental Exchange by 819.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 137,074 shares of the financial services provider’s stock worth $18,764,000 after buying an additional 122,169 shares during the period. BDF Gestion purchased a new stake in shares of Intercontinental Exchange during the second quarter worth $2,849,000. Burke & Herbert Bank & Trust Co. acquired a new stake in shares of Intercontinental Exchange in the second quarter valued at $1,366,000. Blue Trust Inc. boosted its holdings in Intercontinental Exchange by 312.4% in the second quarter. Blue Trust Inc. now owns 5,180 shares of the financial services provider’s stock valued at $712,000 after purchasing an additional 3,924 shares during the period. Finally, GDS Wealth Management grew its stake in Intercontinental Exchange by 5.3% during the 3rd quarter. GDS Wealth Management now owns 103,412 shares of the financial services provider’s stock worth $16,612,000 after purchasing an additional 5,226 shares in the last quarter. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Intercontinental Exchange

In related news, CFO Warren Gardiner sold 750 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $161.43, for a total value of $121,072.50. Following the completion of the sale, the chief financial officer now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Andrew J. Surdykowski sold 2,048 shares of the business’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 transaction, the general counsel now owns 44,865 shares in the company, valued at $7,159,108.05. The trade was a 4.37 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 9,696 shares of company stock worth $1,554,559. Insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on ICE. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $168.00 price target on shares of Intercontinental Exchange in a research report on Tuesday, August 6th. The Goldman Sachs Group raised their target price on shares of Intercontinental Exchange from $171.00 to $185.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price target on shares of Intercontinental Exchange in a report on Friday, November 1st. Morgan Stanley raised their price objective on shares of Intercontinental Exchange from $160.00 to $174.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Finally, TD Cowen began coverage on Intercontinental Exchange in a research note on Thursday, September 26th. They issued a “buy” rating and a $182.00 price target on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, Intercontinental Exchange has a consensus rating of “Moderate Buy” and a consensus price target of $174.13.

Intercontinental Exchange Stock Performance

Shares of Intercontinental Exchange stock opened at $161.19 on Thursday. The firm has a market capitalization of $92.55 billion, a P/E ratio of 38.18, a P/E/G ratio of 2.64 and a beta of 1.08. Intercontinental Exchange, Inc. has a 52 week low of $111.82 and a 52 week 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 firm’s 50 day moving average is $160.55 and its two-hundred day moving average is $151.59.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share (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 net margin of 21.31% and a return on equity of 12.75%. The company’s revenue for the quarter was up 17.3% compared to the same quarter last year. During the same period last year, the firm posted $1.46 earnings per share. Research analysts forecast that Intercontinental Exchange, Inc. will post 6.07 EPS for the current fiscal 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.