Western Wealth Management LLC Purchases 6,565 Shares of Intercontinental Exchange Inc. $ICE

Western Wealth Management LLC boosted its position in Intercontinental Exchange Inc. (NYSE:ICE) by 275.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,952 shares of the financial services provider’s stock after purchasing an additional 6,565 shares during the period. Western Wealth Management LLC’s holdings in Intercontinental Exchange were worth $1,408,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Edgestream Partners L.P. bought a new stake in Intercontinental Exchange during the first quarter valued at about $1,742,000. Bull Harbor Capital LLC purchased a new position in shares of Intercontinental Exchange in the first quarter valued at $320,000. Strategic Investment Advisors MI raised its position in Intercontinental Exchange by 27.6% during the first quarter. Strategic Investment Advisors MI now owns 1,862 shares of the financial services provider’s stock valued at $291,000 after purchasing an additional 403 shares during the period. Arkadios Wealth Advisors raised its stake in shares of Intercontinental Exchange by 2.0% in the first quarter. Arkadios Wealth Advisors now owns 18,847 shares of the financial services provider’s stock valued at $2,964,000 after acquiring an additional 377 shares during the period. Finally, South Dakota Investment Council boosted its holdings in Intercontinental Exchange by 5.7% during the 1st quarter. South Dakota Investment Council now owns 18,461 shares of the financial services provider’s stock valued at $2,904,000 after acquiring an additional 1,000 shares during the period. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. UBS Group reiterated a “buy” rating and issued a $195.00 target price (up from $190.00) on shares of Intercontinental Exchange in a report on Friday. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $178.00 target price on shares of Intercontinental Exchange in a research report on Friday. Raymond James Financial set a $208.00 price target on Intercontinental Exchange in a research note on Monday, July 6th. The Goldman Sachs Group dropped their price objective on shares of Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. Finally, Morgan Stanley cut their price target on shares of Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating on the stock in a report on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $183.33.

Intercontinental Exchange Trading Down 2.3%

Shares of ICE opened at $152.64 on Friday. Intercontinental Exchange Inc. has a 52-week low of $121.79 and a 52-week high of $189.35. The stock has a market cap of $86.32 billion, a PE ratio of 21.56, a price-to-earnings-growth ratio of 1.59 and a beta of 0.94. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63. The firm’s fifty day moving average is $139.48 and its two-hundred day moving average is $153.69.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, July 30th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate 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 period in the prior year, the business earned $1.81 EPS. The firm’s quarterly revenue was up 4.8% on a year-over-year basis. Research analysts forecast that Intercontinental Exchange Inc. will post 7.98 earnings per share for the current fiscal year.

Intercontinental Exchange News Roundup

Here are the key news stories impacting Intercontinental Exchange this week:

• Positive Sentiment: ICE reported second-quarter adjusted earnings of $1.90 per share, exceeding the $1.84 consensus estimate, while revenue reached approximately $2.7 billion, up 5% year over year. Growth in recurring data and mortgage technology helped offset weaker energy-related activity. ICE Q2 Earnings Beat on Data Growth and Mortgage Strength
• Positive Sentiment: The company returned $945 million to shareholders during the quarter, including $651 million in repurchases, and increased its authorized buyback capacity to $4 billion. ICE also raised its quarterly dividend 8% year over year to $0.52 per share. ICE Approves Third Quarter Dividend
• Positive Sentiment: The MarketAxess deal would expand ICE’s electronic fixed-income trading, market-data and distribution capabilities. Management is positioning the acquisition to benefit from the long-term shift from voice-based to electronic bond trading. The transaction is expected to close in the first half of 2027. Rise of Bond E-Trading Underpins ICE’s MarketAxess Deal
• Neutral Sentiment: MarketAxess shares surged roughly 30% after ICE offered a premium of about 33% to its unaffected price, highlighting the strategic value of the target but also making the transaction a significant capital commitment for ICE. NYSE Parent ICE to Purchase MarketAxess
• Negative Sentiment: Investors appear concerned that paying nearly $6 billion in cash could pressure near-term returns, increase execution and integration risk, and limit financial flexibility. The market’s initial reaction was cautious despite the earnings beat, with ICE shares underperforming broader equities.

Insider Buying and Selling at Intercontinental Exchange

In related news, Director William Jefferson Hague sold 1,333 shares of the firm’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $139.46, for a total transaction of $185,900.18. Following the completion of the sale, the director directly owned 20,132 shares in the company, valued at approximately $2,807,608.72. This trade represents a 6.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Sharon Bowen sold 667 shares of Intercontinental Exchange 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 transaction, the director directly owned 15,077 shares in the company, valued at $2,280,848.56. This trade represents a 4.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 13,425 shares of company stock worth $2,046,324. Corporate insiders own 0.84% of the company’s stock.

About Intercontinental Exchange

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.