Princeton Global Asset Management LLC Makes New $28,000 Investment in Intercontinental Exchange Inc. $ICE

Princeton Global Asset Management LLC bought a new position in Intercontinental Exchange Inc. (NYSE:ICE) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 151 shares of the financial services provider’s stock, valued at approximately $28,000.

A number of other hedge funds have also bought and sold shares of the business. Evermay Wealth Management LLC raised its position in Intercontinental Exchange by 1.8% in the 2nd quarter. Evermay Wealth Management LLC now owns 5,150 shares of the financial services provider’s stock worth $945,000 after buying an additional 92 shares during the last quarter. Accretive Wealth Partners LLC increased its position in shares of Intercontinental Exchange by 0.9% during the 2nd quarter. Accretive Wealth Partners LLC now owns 7,870 shares of the financial services provider’s stock valued at $1,444,000 after purchasing an additional 72 shares during the last quarter. Chicago Partners Investment Group LLC increased its position in shares of Intercontinental Exchange by 11.3% during the 2nd quarter. Chicago Partners Investment Group LLC now owns 2,951 shares of the financial services provider’s stock valued at $534,000 after purchasing an additional 300 shares during the last quarter. Novare Capital Management LLC increased its position in shares of Intercontinental Exchange by 0.8% during the 2nd quarter. Novare Capital Management LLC now owns 68,092 shares of the financial services provider’s stock valued at $12,493,000 after purchasing an additional 539 shares during the last quarter. Finally, Quotient Wealth Partners LLC increased its position in shares of Intercontinental Exchange by 6.7% during the 2nd quarter. Quotient Wealth Partners LLC now owns 2,556 shares of the financial services provider’s stock valued at $469,000 after purchasing an additional 161 shares during the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Insiders Place Their Bets

In other Intercontinental Exchange news, Director Duriya M. Farooqui sold 2,036 shares of the company’s stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $178.34, for a total value of $363,100.24. Following the completion of the transaction, the director directly owned 14,299 shares in the company, valued at $2,550,083.66. This represents a 12.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $183.09, for a total value 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. The trade was a 7.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 240,956 shares of company stock worth $43,789,542 over the last ninety days. 1.00% of the stock is owned by company insiders.

Intercontinental Exchange Trading Up 1.0%

Shares of NYSE:ICE opened at $156.78 on Wednesday. The stock has a 50 day moving average of $169.72 and a 200 day moving average of $173.45. The company has a market cap of $89.74 billion, a PE ratio of 30.09, a price-to-earnings-growth ratio of 2.17 and a beta of 1.08. 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 Inc. has a 12-month low of $142.29 and a 12-month high of $189.35.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data 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 company had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $2.50 billion. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.The firm’s revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.52 EPS. As a group, equities research analysts expect that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Raymond James Financial raised shares of Intercontinental Exchange from an “outperform” rating to a “strong-buy” rating and set a $210.00 price target for the company in a research report on Monday, October 13th. Morgan Stanley reduced their price target on shares of Intercontinental Exchange from $188.00 to $178.00 and set an “equal weight” rating for the company in a research report on Tuesday. Piper Sandler upped their price target on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the company an “overweight” rating in a research report on Tuesday, July 15th. 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 research report on Tuesday, July 8th. Finally, Keefe, Bruyette & Woods upgraded Intercontinental Exchange to a “moderate buy” rating in a research note on Monday, October 6th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $198.60.

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.