Oppenheimer & Co. Inc. Invests $227,000 in Intercontinental Exchange, Inc. (NYSE:ICE)

Oppenheimer & Co. Inc. bought a new stake in Intercontinental Exchange, Inc. (NYSE:ICE) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 1,411 shares of the financial services provider’s stock, valued at approximately $227,000.

Several other hedge funds also recently made changes to their positions in the business. Oppenheimer Asset Management Inc. boosted its holdings in Intercontinental Exchange by 2.5% during the third quarter. Oppenheimer Asset Management Inc. now owns 121,325 shares of the financial services provider’s stock worth $19,490,000 after purchasing an additional 2,960 shares during the last quarter. Angeles Investment Advisors LLC acquired a new position in shares of Intercontinental Exchange during the 3rd quarter worth about $405,000. Pinnacle Financial Partners Inc grew its holdings in shares of Intercontinental Exchange by 0.4% in the 3rd quarter. Pinnacle Financial Partners Inc now owns 80,945 shares of the financial services provider’s stock valued at $13,003,000 after acquiring an additional 351 shares in the last quarter. MQS Management LLC acquired a new stake in shares of Intercontinental Exchange in the third quarter valued at about $733,000. Finally, Simmons Bank raised its holdings in Intercontinental Exchange by 2.3% during the third quarter. Simmons Bank now owns 29,694 shares of the financial services provider’s stock worth $4,770,000 after acquiring an additional 668 shares in the last quarter. 89.30% of the stock is owned by institutional investors.

Insider Activity at Intercontinental Exchange

In related news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the business’s stock in a transaction dated 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 transaction, the general counsel now owns 44,865 shares of the company’s stock, valued at $7,159,108.05. The trade was a 4.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Christopher Scott Edmonds sold 602 shares of the stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $162.81, for a total transaction of $98,011.62. Following the sale, the insider now owns 14,034 shares in the company, valued at $2,284,875.54. The trade was a 4.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,809 shares of company stock worth $933,978. Company insiders own 1.10% of the company’s stock.

Intercontinental Exchange Stock Up 0.6 %

ICE stock opened at $159.29 on Friday. Intercontinental Exchange, Inc. has a fifty-two week low of $111.82 and a fifty-two week high of $167.99. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.00 and a quick ratio of 1.00. The stock has a market capitalization of $91.46 billion, a price-to-earnings ratio of 37.75, a PEG ratio of 2.61 and a beta of 1.08. The business’s fifty day moving average price is $160.64 and its two-hundred day moving average price is $150.92.

Intercontinental Exchange (NYSE:ICE) last released 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. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The business had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same period last year, the firm earned $1.46 earnings per share. Intercontinental Exchange’s revenue for the quarter was up 17.3% compared to the same quarter last year. On average, equities analysts anticipate that Intercontinental Exchange, Inc. will post 6.07 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on ICE shares. StockNews.com upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Piper Sandler upped their price target on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. 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 report on Thursday, October 3rd. Bank of America upped their target price on shares of Intercontinental Exchange from $168.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $168.00 target price on shares of Intercontinental Exchange in a research note on Tuesday, August 6th. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average 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.