34,594 Shares in Intercontinental Exchange Inc. $ICE Bought by Perigon Wealth Management LLC

Perigon Wealth Management LLC bought a new stake in Intercontinental Exchange Inc. (NYSE:ICE) during the second quarter, HoldingsChannel.com reports. The institutional investor bought 34,594 shares of the financial services provider’s stock, valued at approximately $4,259,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Ares Financial Consulting LLC purchased a new stake in shares of Intercontinental Exchange during the 4th quarter valued at about $25,000. Brooklands Fund Management Ltd purchased a new position in shares of Intercontinental Exchange in the fourth quarter worth approximately $28,000. Swiss RE Ltd. bought a new stake in Intercontinental Exchange during the fourth quarter valued at approximately $28,000. Lloyd Advisory Services LLC. purchased a new stake in Intercontinental Exchange during the fourth quarter valued at approximately $30,000. Finally, Clearstead Trust LLC bought a new position in Intercontinental Exchange in the second quarter worth approximately $37,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on ICE shares. Rothschild & Co Redburn set a $177.00 target price on Intercontinental Exchange in a report on Thursday, June 11th. Morgan Stanley lowered their price objective on Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating on the stock in a research report on Friday, July 10th. Raymond James Financial set a $208.00 target price on shares of Intercontinental Exchange in a report on Monday, July 6th. TD Cowen restated a “buy” rating and set a $177.00 target price (up from $159.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. Finally, UBS Group reiterated a “buy” rating and issued a $195.00 price target (up from $190.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. One equities research 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. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $183.33.

Intercontinental Exchange Trading Down 0.1%

Shares of ICE opened at $154.62 on Tuesday. Intercontinental Exchange Inc. has a 1 year low of $121.79 and a 1 year high of $181.72. The company has a 50 day simple moving average of $140.90 and a two-hundred day simple moving average of $151.97. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market cap of $86.80 billion, a P/E ratio of 21.84, a price-to-earnings-growth ratio of 1.52 and a beta of 0.92.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, July 30th. The financial services provider reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.06. The company had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $2.63 billion. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. Intercontinental Exchange’s quarterly revenue was up 4.8% on a year-over-year basis. During the same period last year, the company posted $1.81 earnings per share. On average, equities analysts expect that Intercontinental Exchange Inc. will post 8.1 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Douglas Foley sold 7,300 shares of the business’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $148.88, for a total value of $1,086,824.00. Following the sale, the senior vice president directly owned 19,063 shares in the company, valued at approximately $2,838,099.44. The trade was a 27.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 4,573 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $151.56, for a total value of $693,083.88. Following the transaction, the general counsel owned 45,473 shares of the company’s stock, valued at $6,891,887.88. This represents a 9.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 18,376 shares of company stock valued at $2,746,946 in the last ninety days. Company insiders own 0.84% of the company’s stock.

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.