Intercontinental Exchange Inc. $ICE Shares Bought by Soltis Investment Advisors LLC

Soltis Investment Advisors LLC grew its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 59.9% during the second quarter, HoldingsChannel reports. The firm owned 2,964 shares of the financial services provider’s stock after buying an additional 1,110 shares during the period. Soltis Investment Advisors LLC’s holdings in Intercontinental Exchange were worth $544,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Brighton Jones LLC grew its stake in shares of 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 acquiring an additional 1,169 shares in the last quarter. U.S. Capital Wealth Advisors LLC increased its holdings 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 worth $352,000 after purchasing an additional 428 shares during the last quarter. Brown Advisory Inc. boosted its stake in shares of Intercontinental Exchange by 4.1% during the 1st quarter. Brown Advisory Inc. now owns 38,332 shares of the financial services provider’s stock valued at $6,612,000 after buying an additional 1,497 shares during the last quarter. Personal CFO Solutions LLC acquired a new position in Intercontinental Exchange during the 1st quarter worth $230,000. Finally, Greenleaf Trust raised its stake in shares of Intercontinental Exchange by 2.5% in the 1st quarter. Greenleaf Trust now owns 16,517 shares of the financial services provider’s stock valued at $2,849,000 after purchasing an additional 399 shares in the last quarter. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on ICE shares. Morgan Stanley lowered their price objective on Intercontinental Exchange from $188.00 to $178.00 and set an “equal weight” rating for the company in a report on Tuesday, October 21st. Weiss Ratings reiterated a “buy (b)” rating on shares of Intercontinental Exchange in a report on Wednesday, October 8th. Barclays set a $183.00 price objective on Intercontinental Exchange and gave the stock an “overweight” rating in a research note on Friday, October 31st. Piper Sandler increased their target price on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the stock an “overweight” rating in a report on Tuesday, July 15th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating on the stock in a research note on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $191.82.

Intercontinental Exchange Stock Performance

ICE stock opened at $147.41 on Friday. The company has a market capitalization of $84.05 billion, a P/E ratio of 28.29, 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. The company has a 50-day simple moving average of $163.02 and a 200 day simple moving average of $173.07. Intercontinental Exchange Inc. has a fifty-two week low of $142.29 and a fifty-two 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. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.The firm had revenue of $2.41 billion during the quarter, compared to analyst estimates of $2.49 billion. During the same period last year, the company posted $1.55 EPS. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. Sell-side analysts predict that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Insider Activity

In other Intercontinental Exchange news, Director Duriya M. Farooqui sold 2,036 shares of the business’s stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $178.34, for a total value of $363,100.24. Following the sale, the director directly owned 14,299 shares in the company, valued at approximately $2,550,083.66. The trade was a 12.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 3,850 shares of the firm’s stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $178.33, for a total transaction of $686,570.50. Following the transaction, the general counsel owned 46,293 shares of the company’s stock, valued at approximately $8,255,430.69. This trade represents a 7.68% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 240,162 shares of company stock valued at $43,642,652 over the last quarter. Insiders own 1.00% of the company’s stock.

Intercontinental Exchange Company Profile

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.