Wealth Enhancement Advisory Services LLC raised its holdings in Intercontinental Exchange Inc. (NYSE:ICE – Free Report) by 13.9% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 40,047 shares of the financial services provider’s stock after buying an additional 4,878 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Intercontinental Exchange were worth $7,333,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. REAP Financial Group LLC grew its holdings in Intercontinental Exchange by 116.7% in the 4th quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider’s stock valued at $25,000 after buying an additional 91 shares during the last quarter. Tsfg LLC lifted its position in shares of Intercontinental Exchange by 187.3% in the 1st quarter. Tsfg LLC now owns 158 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 103 shares during the period. Menard Financial Group LLC bought a new stake in shares of Intercontinental Exchange in the 4th quarter worth approximately $29,000. Rakuten Securities Inc. lifted its position in shares of Intercontinental Exchange by 595.8% in the 1st quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 143 shares during the period. Finally, Activest Wealth Management lifted its position in shares of Intercontinental Exchange by 4,050.0% in the 1st quarter. Activest Wealth Management now owns 166 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 162 shares during the period. Institutional investors and hedge funds own 89.30% of the company’s stock.
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Analyst Ratings Changes
ICE has been the subject of a number of research reports. UBS Group raised their price objective on Intercontinental Exchange from $195.00 to $210.00 and gave the stock a “buy” rating in a research report on Tuesday, July 8th. Barclays raised their price objective on Intercontinental Exchange from $206.00 to $212.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Finally, Piper Sandler raised their price objective on Intercontinental Exchange from $180.00 to $202.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 15th. Ten equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $194.92.
Check Out Our Latest Research Report on ICE
Insider Transactions at Intercontinental Exchange
In other Intercontinental Exchange news, Director Judith A. Sprieser sold 2,900 shares of Intercontinental Exchange stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $174.51, for a total value of $506,079.00. Following the completion of the transaction, the director owned 18,169 shares in the company, valued at approximately $3,170,672.19. The trade was a 13.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Duriya M. Farooqui sold 2,036 shares of Intercontinental Exchange stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $178.34, for a total value of $363,100.24. Following the completion of the transaction, the director owned 14,299 shares of the company’s stock, valued at approximately $2,550,083.66. The trade was a 12.46% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 231,669 shares of company stock worth $42,333,438. 1.00% of the stock is owned by company insiders.
Intercontinental Exchange Price Performance
Intercontinental Exchange stock opened at $168.01 on Wednesday. The business has a 50 day simple moving average of $179.12 and a 200 day simple moving average of $174.96. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01. Intercontinental Exchange Inc. has a one year low of $142.29 and a one year high of $189.35. The company has a market capitalization of $96.17 billion, a PE ratio of 32.25, a price-to-earnings-growth ratio of 2.03 and a beta of 1.10.
Intercontinental Exchange (NYSE:ICE – Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The financial services provider reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.77 by $0.04. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.The firm had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter in the previous year, the company posted $1.52 EPS. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. On average, sell-side analysts forecast that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.
Intercontinental Exchange Profile
(Free Report)
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.
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