SteelPeak Wealth LLC Acquires New Shares in Intercontinental Exchange Inc. $ICE

SteelPeak Wealth LLC acquired a new stake in Intercontinental Exchange Inc. (NYSE:ICE) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,570 shares of the financial services provider’s stock, valued at approximately $288,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ICE. Price T Rowe Associates Inc. MD raised its position in Intercontinental Exchange by 491.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,433,497 shares of the financial services provider’s stock valued at $1,109,780,000 after purchasing an additional 5,345,388 shares during the period. Nuveen LLC acquired a new position in shares of Intercontinental Exchange during the first quarter worth $575,383,000. Wellington Management Group LLP grew its stake in shares of Intercontinental Exchange by 113.9% during the first quarter. Wellington Management Group LLP now owns 5,943,363 shares of the financial services provider’s stock worth $1,025,230,000 after purchasing an additional 3,165,381 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Intercontinental Exchange by 50.6% in the first quarter. Bank of New York Mellon Corp now owns 5,933,532 shares of the financial services provider’s stock valued at $1,023,534,000 after acquiring an additional 1,993,084 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in Intercontinental Exchange by 31.7% in the first quarter. Goldman Sachs Group Inc. now owns 3,575,859 shares of the financial services provider’s stock valued at $616,836,000 after acquiring an additional 861,679 shares in the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Down 0.2%

ICE stock opened at $159.11 on Friday. The stock has a market capitalization of $91.08 billion, a P/E ratio of 30.54, a PEG ratio of 1.94 and a beta of 1.08. 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 company has a 50 day moving average price of $174.55 and a two-hundred day moving average price of $174.26.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, July 31st. The financial services provider reported $1.81 earnings per share (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 company had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $2.50 billion. During the same period in the previous year, the company earned $1.52 EPS. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. As a group, sell-side analysts expect that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Insider Activity at Intercontinental Exchange

In other news, General Counsel Andrew J. Surdykowski sold 3,850 shares of the business’s stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $178.33, for a total transaction of $686,570.50. Following the completion of the sale, the general counsel directly owned 46,293 shares of the company’s stock, valued at $8,255,430.69. The trade was a 7.68% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Stuart Glen Williams sold 939 shares of the business’s stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $172.04, for a total transaction of $161,545.56. Following the sale, the chief operating officer directly owned 16,624 shares of the company’s stock, valued at $2,859,992.96. This represents a 5.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 230,874 shares of company stock worth $42,187,714. 1.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

ICE has been the subject of several research analyst reports. UBS Group upped their price objective on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the company a “buy” rating in a research note on Tuesday, July 8th. Morgan Stanley reduced their price objective on shares of Intercontinental Exchange from $192.00 to $188.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 1st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Intercontinental Exchange in a report on Wednesday. JPMorgan Chase & Co. raised their price target on Intercontinental Exchange from $195.00 to $203.00 and gave the company an “overweight” rating in a research report on Thursday, September 25th. Finally, Piper Sandler raised 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. Nine research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $197.10.

Intercontinental Exchange 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.