Rialto Wealth Management LLC Purchases 2,928 Shares of Intercontinental Exchange Inc. $ICE

Rialto Wealth Management LLC increased its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 47.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,150 shares of the financial services provider’s stock after acquiring an additional 2,928 shares during the quarter. Rialto Wealth Management LLC’s holdings in Intercontinental Exchange were worth $1,679,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Brighton Jones LLC increased its holdings in Intercontinental Exchange by 51.3% during the fourth quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider’s stock valued at $514,000 after buying an additional 1,169 shares during the period. U.S. Capital Wealth Advisors LLC boosted its position in Intercontinental Exchange by 26.5% during the 1st quarter. U.S. Capital Wealth Advisors LLC now owns 2,042 shares of the financial services provider’s stock valued at $352,000 after acquiring an additional 428 shares in the last quarter. Brown Advisory Inc. increased its holdings in shares of Intercontinental Exchange by 4.1% in the 1st quarter. Brown Advisory Inc. now owns 38,332 shares of the financial services provider’s stock valued at $6,612,000 after acquiring an additional 1,497 shares during the period. Alps Advisors Inc. raised its position in shares of Intercontinental Exchange by 5.0% in the 1st quarter. Alps Advisors Inc. now owns 3,911 shares of the financial services provider’s stock worth $675,000 after acquiring an additional 186 shares in the last quarter. Finally, Cerity Partners LLC lifted its stake in shares of Intercontinental Exchange by 3.1% during the 1st quarter. Cerity Partners LLC now owns 252,045 shares of the financial services provider’s stock worth $43,478,000 after purchasing an additional 7,568 shares during the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Morgan Stanley cut their target price on Intercontinental Exchange from $188.00 to $178.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 21st. Barclays set a $183.00 price objective on shares of Intercontinental Exchange and gave the stock an “overweight” rating in a research report on Friday, October 31st. Piper Sandler boosted their price objective on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 15th. TD Cowen decreased their target price on shares of Intercontinental Exchange from $199.00 to $175.00 and set a “buy” rating for the company in a research report on Friday, October 31st. Finally, Keefe, Bruyette & Woods raised shares of Intercontinental Exchange to a “moderate buy” rating in a report on Monday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $191.82.

Insider Activity

In related news, Director Duriya M. Farooqui sold 2,036 shares of the company’s stock in a transaction 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 transaction, the director directly owned 14,299 shares of the company’s stock, valued at $2,550,083.66. This represents a 12.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Stuart Glen Williams sold 939 shares of Intercontinental Exchange stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $172.04, for a total value of $161,545.56. Following 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 SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 240,162 shares of company stock valued at $43,642,652. 1.00% of the stock is owned by corporate insiders.

Intercontinental Exchange Stock Performance

Shares of Intercontinental Exchange stock opened at $148.93 on Friday. The company has a 50 day moving average price of $162.47 and a 200 day moving average price of $173.02. The firm has a market capitalization of $84.92 billion, a P/E ratio of 28.59, a PEG ratio of 2.11 and a beta of 1.06. 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 issued its quarterly earnings results on Thursday, October 30th. The financial services provider reported $1.71 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.71. The business had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.49 billion. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. Intercontinental Exchange’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.55 EPS. Sell-side analysts expect that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

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.