Davidson Investment Advisors Increases Position in Intercontinental Exchange Inc. $ICE

Davidson Investment Advisors raised its position in Intercontinental Exchange Inc. (NYSE:ICE) by 1.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 93,928 shares of the financial services provider’s stock after purchasing an additional 992 shares during the period. Davidson Investment Advisors’ holdings in Intercontinental Exchange were worth $17,233,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of ICE. Tritonpoint Wealth LLC lifted its stake in shares of Intercontinental Exchange by 1.4% in the second quarter. Tritonpoint Wealth LLC now owns 4,347 shares of the financial services provider’s stock valued at $798,000 after purchasing an additional 58 shares during the period. RB Capital Management LLC raised its position in Intercontinental Exchange by 1.3% during the second quarter. RB Capital Management LLC now owns 4,584 shares of the financial services provider’s stock worth $841,000 after acquiring an additional 59 shares during the last quarter. Chemistry Wealth Management LLC grew its holdings in shares of Intercontinental Exchange by 0.8% during the second quarter. Chemistry Wealth Management LLC now owns 7,847 shares of the financial services provider’s stock worth $1,440,000 after buying an additional 60 shares in the last quarter. Institute for Wealth Management LLC. grew its holdings in shares of Intercontinental Exchange by 1.9% during the second quarter. Institute for Wealth Management LLC. now owns 3,255 shares of the financial services provider’s stock worth $597,000 after buying an additional 60 shares in the last quarter. Finally, Fielder Capital Group LLC grew its holdings in shares of Intercontinental Exchange by 2.2% during the first quarter. Fielder Capital Group LLC now owns 2,808 shares of the financial services provider’s stock worth $484,000 after buying an additional 61 shares in the last quarter. 89.30% of the stock is owned by hedge funds and other institutional investors.

Intercontinental Exchange Stock Performance

Shares of ICE opened at $157.33 on Thursday. The firm has a 50-day moving average price of $172.21 and a 200 day moving average price of $173.77. The firm has a market capitalization of $90.06 billion, a PE ratio of 30.20, a P/E/G ratio of 2.20 and a beta of 1.08. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.61. Intercontinental Exchange Inc. has a 52-week low of $142.29 and a 52-week high of $189.35.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, July 31st. The financial services provider reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.77 by $0.04. The firm had revenue of $3.26 billion during the quarter, compared to analyst estimates of $2.50 billion. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. Intercontinental Exchange’s revenue was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.52 EPS. On average, sell-side analysts anticipate that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Intercontinental Exchange news, COO Stuart Glen Williams sold 939 shares of the company’s stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $172.04, for a total value of $161,545.56. Following the completion of the sale, the chief operating officer directly owned 16,624 shares of the company’s stock, valued at approximately $2,859,992.96. This represents a 5.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Mayur Kapani sold 10,082 shares of the company’s stock in a transaction dated Wednesday, October 8th. The shares were sold at an average price of $158.88, for a total transaction of $1,601,828.16. Following the sale, the chief technology officer directly owned 65,240 shares of the company’s stock, valued at $10,365,331.20. This represents a 13.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 240,956 shares of company stock worth $43,789,542 in the last ninety days. Insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

ICE has been the subject of a number of recent analyst reports. Piper Sandler boosted their target price on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the company an “overweight” rating in a report on Tuesday, July 15th. Barclays reaffirmed an “overweight” rating and set a $201.00 price target (down from $212.00) on shares of Intercontinental Exchange in a research report on Wednesday, October 8th. Morgan Stanley reduced their target price on shares of Intercontinental Exchange from $192.00 to $188.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 1st. UBS Group upped their price target on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the company a “buy” rating in a report on Tuesday, July 8th. Finally, Raymond James Financial upgraded shares of Intercontinental Exchange from an “outperform” rating to a “strong-buy” rating and set a $210.00 target price for the company in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $199.60.

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.