LRI Investments LLC Acquires 23,763 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

LRI Investments LLC boosted its stake in Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) by 2,300.4% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 24,796 shares of the financial services provider's stock after acquiring an additional 23,763 shares during the quarter. LRI Investments LLC's holdings in Intercontinental Exchange were worth $3,983,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. raised 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 valued at $18,764,000 after acquiring an additional 122,169 shares during the last quarter. Burke & Herbert Bank & Trust Co. purchased a new position in shares of Intercontinental Exchange during the 2nd quarter valued at approximately $1,366,000. Blue Trust Inc. raised its holdings in shares of Intercontinental Exchange by 312.4% during the second quarter. Blue Trust Inc. now owns 5,180 shares of the financial services provider's stock worth $712,000 after purchasing an additional 3,924 shares during the period. 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 buying an additional 5,226 shares during the last quarter. Finally, Main Management ETF Advisors LLC bought a new position in Intercontinental Exchange in the 3rd quarter worth approximately $873,000. Hedge funds and other institutional investors own 89.30% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on ICE shares. StockNews.com upgraded Intercontinental Exchange from a "sell" rating to a "hold" rating in a report on Thursday. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Intercontinental Exchange from $160.00 to $163.00 and gave the company a "hold" rating in a research report on Monday, November 11th. The Goldman Sachs Group raised their price target 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. Morgan Stanley boosted their target price on shares of Intercontinental Exchange from $160.00 to $174.00 and gave the stock an "equal weight" rating in a research report on Thursday, October 17th. 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 research note on Tuesday, October 8th. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $175.07.

Insider Activity

In related news, insider Christopher Scott Edmonds sold 602 shares of the firm's stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total transaction of $98,011.62. Following the completion of the sale, the insider now owns 14,034 shares in the company, valued at approximately $2,284,875.54. This trade represents a 4.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Stuart Glen Williams sold 468 shares of the business's stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total value of $76,195.08. Following the completion of the sale, the chief operating officer now owns 13,530 shares in the company, valued at approximately $2,202,819.30. The trade was a 3.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,946 shares of company stock worth $1,433,486 over the last three months. 1.10% of the stock is currently owned by insiders.

Intercontinental Exchange Price Performance

ICE traded up $0.14 on Monday, reaching $156.07. The stock had a trading volume of 3,471,750 shares, compared to its average volume of 2,598,066. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $89.61 billion, a price-to-earnings ratio of 36.95, a price-to-earnings-growth ratio of 2.58 and a beta of 1.08. Intercontinental Exchange, Inc. has a fifty-two week low of $113.87 and a fifty-two week high of $167.99. The firm has a 50-day moving average of $160.38 and a 200-day moving average of $152.75.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last announced its earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, hitting analysts' consensus estimates of $1.55. The business had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.35 billion. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. Intercontinental Exchange's quarterly revenue was up 17.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.46 earnings per share. As a group, sell-side analysts anticipate that Intercontinental Exchange, Inc. will post 6.07 EPS 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.