Creekmur Asset Management LLC Boosts Position in Intercontinental Exchange Inc. $ICE

Creekmur Asset Management LLC increased its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 27.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,891 shares of the financial services provider’s stock after purchasing an additional 409 shares during the quarter. Creekmur Asset Management LLC’s holdings in Intercontinental Exchange were worth $347,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Princeton Global Asset Management LLC purchased a new stake in Intercontinental Exchange during the second quarter worth approximately $28,000. Activest Wealth Management lifted its stake in Intercontinental Exchange by 4,050.0% during the first quarter. Activest Wealth Management now owns 166 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 162 shares during the last quarter. McClarren Financial Advisors Inc. purchased a new stake in Intercontinental Exchange during the first quarter worth approximately $30,000. Hilltop National Bank purchased a new stake in Intercontinental Exchange during the second quarter worth approximately $31,000. Finally, Accredited Wealth Management LLC purchased a new stake in Intercontinental Exchange in the first quarter valued at approximately $33,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on ICE shares. Piper Sandler boosted their price objective on Intercontinental Exchange from $180.00 to $202.00 and gave the company an “overweight” rating in a research note on Tuesday, July 15th. TD Cowen reduced their price objective on Intercontinental Exchange from $199.00 to $175.00 and set a “buy” rating for the company in a research note on Friday. Keefe, Bruyette & Woods upgraded Intercontinental Exchange to a “moderate buy” rating in a research note on Monday, October 6th. UBS Group reduced their price objective on Intercontinental Exchange from $215.00 to $200.00 and set a “buy” rating for the company in a research note on Friday. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Intercontinental Exchange in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $191.82.

Intercontinental Exchange Trading Down 1.6%

NYSE:ICE opened at $146.10 on Friday. The firm has a market cap of $83.63 billion, a P/E ratio of 28.04, a PEG ratio of 2.11 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. The stock’s 50 day simple moving average is $165.55 and its 200-day simple moving average is $173.40. Intercontinental Exchange Inc. has a 12-month low of $142.29 and a 12-month high of $189.35.

Intercontinental Exchange (NYSE:ICE) last released its 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 return on equity of 13.66% and a net margin of 23.92%.The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.55 earnings per share. Equities analysts anticipate that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Insiders Place Their Bets

In other news, Director Duriya M. Farooqui sold 2,036 shares of the business’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 transaction, the director owned 14,299 shares of the company’s stock, valued at approximately $2,550,083.66. The trade was a 12.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Judith A. Sprieser sold 2,900 shares of the business’s stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $174.51, for a total value of $506,079.00. Following the completion of the transaction, the director directly owned 18,169 shares in the company, valued at approximately $3,170,672.19. The trade was a 13.76% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 240,162 shares of company stock valued at $43,642,652. 1.00% of the stock is owned by company insiders.

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.