Meeder Advisory Services Inc. acquired a new stake in shares of Intercontinental Exchange Inc. (NYSE:ICE – Free Report) in the 2nd quarter, HoldingsChannel reports. The fund acquired 12,657 shares of the financial services provider’s stock, valued at approximately $1,558,000.
Other institutional investors also recently modified their holdings of the company. Brighton Jones LLC increased its holdings in Intercontinental Exchange by 51.3% during the 4th quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider’s stock valued at $514,000 after purchasing an additional 1,169 shares during the period. Empowered Funds LLC lifted its holdings in Intercontinental Exchange by 9.0% in the 1st quarter. Empowered Funds LLC now owns 14,396 shares of the financial services provider’s stock worth $2,483,000 after buying an additional 1,189 shares during the period. Sivia Capital Partners LLC grew its position in shares of Intercontinental Exchange by 16.2% in the 2nd quarter. Sivia Capital Partners LLC now owns 2,078 shares of the financial services provider’s stock worth $381,000 after buying an additional 289 shares during the last quarter. NewEdge Advisors LLC grew its position in shares of Intercontinental Exchange by 27.9% in the 2nd quarter. NewEdge Advisors LLC now owns 21,213 shares of the financial services provider’s stock worth $3,892,000 after buying an additional 4,628 shares during the last quarter. Finally, Treasurer of the State of North Carolina increased its stake in shares of Intercontinental Exchange by 2.4% during the second quarter. Treasurer of the State of North Carolina now owns 266,496 shares of the financial services provider’s stock valued at $48,894,000 after buying an additional 6,373 shares during the period. 89.30% of the stock is currently owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other news, Director William Jefferson Hague sold 1,333 shares of the business’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $139.46, for a total transaction of $185,900.18. Following the sale, the director owned 20,132 shares in the company, valued at approximately $2,807,608.72. The trade was a 6.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Sharon Bowen sold 667 shares of the company’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $151.28, for a total transaction of $100,903.76. Following the completion of the sale, the director directly owned 15,077 shares in the company, valued at $2,280,848.56. This represents a 4.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 18,376 shares of company stock valued at $2,746,946 in the last 90 days. Corporate insiders own 0.84% of the company’s stock.
Intercontinental Exchange Stock Up 0.6%
Intercontinental Exchange (NYSE:ICE – Get Free Report) last released its earnings results on Thursday, July 30th. The financial services provider reported $1.90 EPS for the quarter, beating analysts’ consensus estimates of $1.84 by $0.06. Intercontinental Exchange had a return on equity of 14.95% and a net margin of 30.08%.The company had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $2.63 billion. During the same quarter last year, the business posted $1.81 EPS. The firm’s revenue for the quarter was up 4.8% compared to the same quarter last year. As a group, analysts forecast that Intercontinental Exchange Inc. will post 8.11 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
A number of brokerages recently commented on ICE. Piper Sandler decreased their target price on Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating for the company in a report on Wednesday, July 15th. Wall Street Zen cut shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $178.00 price objective on shares of Intercontinental Exchange in a research report on Friday, July 31st. Raymond James Financial set a $208.00 price objective on shares of Intercontinental Exchange in a report on Monday, July 6th. Finally, Weiss Ratings cut shares of Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $183.33.
Get Our Latest Research Report on ICE
Intercontinental Exchange Company Profile
Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.
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