Intercontinental Exchange Inc. $ICE Shares Bought by Drive Wealth Management LLC

Drive Wealth Management LLC lifted its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 11.1% in the second quarter, Holdings Channel reports. The institutional investor owned 1,867 shares of the financial services provider’s stock after acquiring an additional 187 shares during the quarter. Drive Wealth Management LLC’s holdings in Intercontinental Exchange were worth $342,000 at the end of the most recent quarter.

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

Insider Buying and Selling at Intercontinental Exchange

In related news, Director Duriya M. Farooqui sold 2,036 shares of the company’s stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $178.34, for a total transaction of $363,100.24. Following the sale, the director directly owned 14,299 shares in the company, valued at approximately $2,550,083.66. This represents a 12.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of Intercontinental Exchange stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 240,956 shares of company stock valued at $43,789,542. 1.00% of the stock is currently owned by company insiders.

Intercontinental Exchange Stock Performance

NYSE:ICE opened at $155.36 on Tuesday. Intercontinental Exchange Inc. has a 52 week low of $142.29 and a 52 week high of $189.35. The company has a fifty day simple moving average of $170.25 and a two-hundred day simple moving average of $173.57. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.61. The company has a market cap of $88.93 billion, a price-to-earnings ratio of 29.82, a price-to-earnings-growth ratio of 2.14 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last released 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. 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 analyst estimates of $2.50 billion. During the same period last year, the business posted $1.52 earnings per share. Intercontinental Exchange’s revenue was up 9.8% compared to the same quarter last year. As a group, equities analysts anticipate that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. JPMorgan Chase & Co. increased their target price on shares of Intercontinental Exchange from $195.00 to $203.00 and gave the stock an “overweight” rating in a research note on Thursday, September 25th. Keefe, Bruyette & Woods raised shares of Intercontinental Exchange to a “moderate buy” rating in a research report on Monday, October 6th. Barclays reissued an “overweight” rating and issued a $201.00 target price (down previously from $212.00) on shares of Intercontinental Exchange in a research report on Wednesday, October 8th. Raymond James Financial upgraded Intercontinental Exchange from an “outperform” rating to a “strong-buy” rating and set a $210.00 price target on the stock in a research note on Monday, October 13th. Finally, Morgan Stanley dropped their price objective on Intercontinental Exchange from $192.00 to $188.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 1st. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $199.60.

About Intercontinental Exchange

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.