Intercontinental Exchange Inc. $ICE Shares Purchased by Stegent Equity Advisors Inc.

Stegent Equity Advisors Inc. increased its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 38.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,131 shares of the financial services provider’s stock after purchasing an additional 865 shares during the period. Stegent Equity Advisors Inc.’s holdings in Intercontinental Exchange were worth $574,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Tritonpoint Wealth LLC increased its position in Intercontinental Exchange by 1.4% during the second quarter. Tritonpoint Wealth LLC now owns 4,347 shares of the financial services provider’s stock worth $798,000 after purchasing an additional 58 shares during the last quarter. RB Capital Management LLC increased its position in shares of 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 valued at $841,000 after acquiring an additional 59 shares during the last quarter. Chemistry Wealth Management LLC increased its position 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 valued at $1,440,000 after acquiring an additional 60 shares during the last quarter. Institute for Wealth Management LLC. increased its position 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 valued at $597,000 after acquiring an additional 60 shares during the last quarter. Finally, Fielder Capital Group LLC increased its position 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 valued at $484,000 after acquiring an additional 61 shares during the last quarter. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CTO Mayur Kapani sold 10,082 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, October 8th. The shares were sold at an average price of $158.88, for a total value of $1,601,828.16. Following the completion of the transaction, the chief technology officer owned 65,240 shares in the company, valued at $10,365,331.20. The trade was a 13.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 3,850 shares of Intercontinental Exchange stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $178.33, for a total transaction of $686,570.50. Following the completion of the transaction, the general counsel owned 46,293 shares of the company’s stock, valued at $8,255,430.69. This represents a 7.68% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 240,162 shares of company stock valued at $43,642,652. 1.00% of the stock is owned by company insiders.

Intercontinental Exchange Trading Up 0.2%

NYSE ICE opened at $157.71 on Friday. The firm has a 50 day simple moving average of $168.26 and a 200-day simple moving average of $173.56. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.01. Intercontinental Exchange Inc. has a one year low of $142.29 and a one year high of $189.35. The firm has a market cap of $90.28 billion, a price-to-earnings ratio of 30.27, a PEG ratio of 2.20 and a beta of 1.08.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on ICE shares. JPMorgan Chase & Co. lifted their price target on shares of Intercontinental Exchange from $195.00 to $203.00 and gave the company an “overweight” rating in a research report on Thursday, September 25th. Piper Sandler lifted 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 lifted 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. Morgan Stanley dropped 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, October 21st. Finally, Keefe, Bruyette & Woods upgraded shares of Intercontinental Exchange to a “moderate buy” rating in a research report on Monday, October 6th. One equities research 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. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.