Resonant Capital Advisors LLC Buys 424 Shares of Intercontinental Exchange Inc. $ICE

Resonant Capital Advisors LLC increased its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 12.9% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,703 shares of the financial services provider’s stock after acquiring an additional 424 shares during the quarter. Resonant Capital Advisors LLC’s holdings in Intercontinental Exchange were worth $679,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Tritonpoint Wealth LLC grew its position in shares of Intercontinental Exchange by 1.4% during the second quarter. Tritonpoint Wealth LLC now owns 4,347 shares of the financial services provider’s stock valued at $798,000 after purchasing an additional 58 shares in the last quarter. RB Capital Management LLC grew its holdings in Intercontinental Exchange by 1.3% during the 2nd quarter. RB Capital Management LLC now owns 4,584 shares of the financial services provider’s stock valued at $841,000 after buying an additional 59 shares in the last quarter. Chemistry Wealth Management LLC grew its holdings in Intercontinental Exchange by 0.8% during the 2nd quarter. Chemistry Wealth Management LLC now owns 7,847 shares of the financial services provider’s stock valued at $1,440,000 after buying an additional 60 shares in the last quarter. Institute for Wealth Management LLC. raised its holdings in shares of Intercontinental Exchange by 1.9% during the 2nd quarter. Institute for Wealth Management LLC. now owns 3,255 shares of the financial services provider’s stock worth $597,000 after acquiring an additional 60 shares in the last quarter. Finally, Fielder Capital Group LLC increased its position in Intercontinental Exchange by 2.2% in the first quarter. Fielder Capital Group LLC now owns 2,808 shares of the financial services provider’s stock worth $484,000 after purchasing an additional 61 shares during the last quarter. 89.30% of the stock is currently owned by institutional investors.

Intercontinental Exchange Trading Up 0.2%

Shares of NYSE ICE opened at $157.71 on Monday. The business’s 50 day moving average price is $168.26 and its 200-day moving average price is $173.68. Intercontinental Exchange Inc. has a fifty-two week low of $142.29 and a fifty-two week high of $189.35. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market cap of $90.28 billion, a price-to-earnings ratio of 30.27, a PEG ratio of 2.20 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, July 31st. The financial services provider reported $1.81 EPS for the quarter, beating the consensus estimate of $1.77 by $0.04. The company had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $2.50 billion. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.Intercontinental Exchange’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.52 EPS. On average, sell-side analysts expect that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have commented on ICE. Keefe, Bruyette & Woods upgraded shares of Intercontinental Exchange to a “moderate buy” rating in a research report on Monday, October 6th. Barclays reaffirmed an “overweight” rating and issued a $201.00 price target (down previously from $212.00) on shares of Intercontinental Exchange in a report on Wednesday, October 8th. JPMorgan Chase & Co. lifted their price target on Intercontinental Exchange from $195.00 to $203.00 and gave the stock an “overweight” rating in a research report on Thursday, September 25th. Piper Sandler upped their price objective on Intercontinental Exchange from $180.00 to $202.00 and gave the company an “overweight” rating in a research report on Tuesday, July 15th. Finally, UBS Group raised their price objective on Intercontinental Exchange from $195.00 to $210.00 and gave the company a “buy” rating in a research note on Tuesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Intercontinental Exchange presently has an average rating of “Moderate Buy” and a consensus price target of $198.60.

Insiders Place Their Bets

In other news, Director Duriya M. Farooqui sold 2,036 shares of the firm’s stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $178.34, for a total transaction of $363,100.24. Following the transaction, the director owned 14,299 shares in the company, valued at approximately $2,550,083.66. This trade represents a 12.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CTO Mayur Kapani sold 10,082 shares of Intercontinental Exchange stock in a transaction dated Wednesday, October 8th. The shares were sold at an average price of $158.88, for a total value of $1,601,828.16. Following the completion of the sale, the chief technology officer owned 65,240 shares of the company’s stock, valued at $10,365,331.20. The trade was a 13.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 240,162 shares of company stock worth $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.