Intercontinental Exchange, Inc. (NYSE:ICE) Shares Acquired by Franklin Resources Inc.

Franklin Resources Inc. lifted its stake in Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) by 8.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,265,020 shares of the financial services provider's stock after purchasing an additional 390,332 shares during the period. Franklin Resources Inc. owned about 0.92% of Intercontinental Exchange worth $865,455,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Synovus Financial Corp increased its position in shares of Intercontinental Exchange by 7.1% in the 3rd quarter. Synovus Financial Corp now owns 33,874 shares of the financial services provider's stock valued at $5,441,000 after purchasing an additional 2,247 shares during the last quarter. Tidal Investments LLC raised its stake in Intercontinental Exchange by 180.6% in the third quarter. Tidal Investments LLC now owns 98,482 shares of the financial services provider's stock valued at $15,820,000 after buying an additional 63,382 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Intercontinental Exchange during the 3rd quarter worth about $3,504,000. World Investment Advisors LLC boosted its position in shares of Intercontinental Exchange by 759.2% during the 3rd quarter. World Investment Advisors LLC now owns 52,946 shares of the financial services provider's stock worth $8,505,000 after acquiring an additional 46,784 shares in the last quarter. Finally, Sanctuary Advisors LLC increased its holdings in shares of Intercontinental Exchange by 26.7% in the 3rd quarter. Sanctuary Advisors LLC now owns 76,732 shares of the financial services provider's stock valued at $12,223,000 after acquiring an additional 16,152 shares during the last quarter. 89.30% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ICE. The Goldman Sachs Group upped their price target on Intercontinental Exchange from $171.00 to $185.00 and gave the company a "buy" rating in a report on Thursday, October 3rd. TD Cowen started coverage on shares of Intercontinental Exchange in a research report on Thursday, September 26th. They issued a "buy" rating and a $182.00 target price on the stock. Piper Sandler boosted their price target on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the company an "overweight" rating in a research report on Tuesday, October 8th. Morgan Stanley raised their price objective on Intercontinental Exchange from $160.00 to $174.00 and gave the stock an "equal weight" rating in a report on Thursday, October 17th. Finally, StockNews.com raised shares of Intercontinental Exchange from a "sell" rating to a "hold" rating in a report on Thursday, December 5th. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $175.07.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, COO Stuart Glen Williams sold 468 shares of the stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $162.81, for a total transaction of $76,195.08. Following the sale, the chief operating officer now owns 13,530 shares in the company, valued at approximately $2,202,819.30. This represents a 3.34 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Benjamin Jackson sold 5,828 shares of the business's stock in a transaction on Monday, November 25th. The stock was sold at an average price of $160.00, for a total value of $932,480.00. Following the completion of the transaction, the president now directly owns 156,163 shares of the company's stock, valued at approximately $24,986,080. This trade represents a 3.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,901 shares of company stock valued at $1,582,542 in the last ninety days. Corporate insiders own 1.10% of the company's stock.

Intercontinental Exchange Price Performance

Shares of ICE traded down $0.97 during trading hours on Friday, reaching $155.58. The company had a trading volume of 2,128,578 shares, compared to its average volume of 2,600,155. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.68. Intercontinental Exchange, Inc. has a 12-month low of $121.56 and a 12-month high of $167.99. The firm has a 50 day simple moving average of $160.04 and a 200-day simple moving average of $153.11. The company has a market capitalization of $89.33 billion, a price-to-earnings ratio of 36.87, a PEG ratio of 2.61 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last posted its earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, meeting the consensus estimate of $1.55. The company 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 revenue was up 17.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.46 earnings per share. Research analysts expect 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.