Three Bridge Wealth Advisors LLC Acquires Shares of 1,875 Intercontinental Exchange Inc. $ICE

Three Bridge Wealth Advisors LLC purchased a new position in shares of Intercontinental Exchange Inc. (NYSE:ICE) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 1,875 shares of the financial services provider’s stock, valued at approximately $344,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Tsfg LLC grew its stake in Intercontinental Exchange by 187.3% during the first quarter. Tsfg LLC now owns 158 shares of the financial services provider’s stock worth $27,000 after buying an additional 103 shares in the last quarter. Rakuten Securities Inc. raised its stake in shares of Intercontinental Exchange by 595.8% during the 1st quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 143 shares during the period. Activest Wealth Management increased its holdings in 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 last quarter. McClarren Financial Advisors Inc. purchased a new position in Intercontinental Exchange during the 1st quarter valued at about $30,000. Finally, Global Trust Asset Management LLC bought a new stake in Intercontinental Exchange in the 1st quarter worth approximately $31,000. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Intercontinental Exchange Price Performance

Shares of ICE stock opened at $162.47 on Friday. Intercontinental Exchange Inc. has a twelve month low of $142.29 and a twelve month high of $189.35. The stock has a market capitalization of $93.00 billion, a price-to-earnings ratio of 31.18, a P/E/G ratio of 1.98 and a beta of 1.08. The stock has a fifty day simple moving average of $176.53 and a two-hundred day simple moving average of $174.68. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, July 31st. The financial services provider reported $1.81 earnings per share for the quarter, topping 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 business had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $2.50 billion. During the same period in the prior year, the business earned $1.52 EPS. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. On average, analysts predict that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ICE. UBS Group upped their price target on Intercontinental Exchange from $195.00 to $210.00 and gave the stock a “buy” rating in a research note on Tuesday, July 8th. Morgan Stanley decreased their price objective on Intercontinental Exchange from $192.00 to $188.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Intercontinental Exchange in a research note on Saturday, September 27th. Piper Sandler lifted their price objective on Intercontinental Exchange from $180.00 to $202.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 15th. Finally, JPMorgan Chase & Co. lifted their target price on Intercontinental Exchange from $195.00 to $203.00 and gave the stock an “overweight” rating in a report on Thursday, September 25th. Nine equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Intercontinental Exchange presently has a consensus rating of “Moderate Buy” and a consensus target price of $198.20.

Insider Transactions at Intercontinental Exchange

In related news, CEO Jeffrey C. Sprecher sold 150,000 shares of the company’s stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $183.09, for a total transaction of $27,463,500.00. Following the transaction, the chief executive officer directly owned 1,951,705 shares of the company’s stock, valued at $357,337,668.45. This represents a 7.14% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, General Counsel Andrew J. Surdykowski sold 3,850 shares of the company’s stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $178.33, for a total value of $686,570.50. Following the transaction, the general counsel directly owned 46,293 shares in the company, valued at $8,255,430.69. This represents a 7.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 230,874 shares of company stock worth $42,187,714. Company insiders own 1.00% of the company’s stock.

Intercontinental Exchange Company 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.