Belpointe Asset Management LLC Grows Stock Holdings in Intercontinental Exchange Inc. $ICE

Belpointe Asset Management LLC grew its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 1.4% in the second quarter, Holdings Channel.com reports. The fund owned 11,518 shares of the financial services provider’s stock after purchasing an additional 157 shares during the period. Belpointe Asset Management LLC’s holdings in Intercontinental Exchange were worth $2,113,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Tsfg LLC grew its stake in Intercontinental Exchange by 187.3% in the 1st quarter. Tsfg LLC now owns 158 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 103 shares during the last quarter. Rakuten Securities Inc. grew its position in shares of Intercontinental Exchange by 595.8% in the first quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 143 shares during the period. Activest Wealth Management increased its stake in Intercontinental Exchange by 4,050.0% in the first quarter. Activest Wealth Management now owns 166 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 162 shares during the last quarter. McClarren Financial Advisors Inc. purchased a new position in Intercontinental Exchange during the first quarter worth about $30,000. Finally, Global Trust Asset Management LLC acquired a new stake in Intercontinental Exchange in the 1st quarter worth about $31,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Insider Buying and Selling

In other news, COO Stuart Glen Williams sold 939 shares of the stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $172.04, for a total value of $161,545.56. Following the completion of the sale, the chief operating officer owned 16,624 shares in the company, valued at approximately $2,859,992.96. This trade represents a 5.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Duriya M. Farooqui sold 2,036 shares of the business’s stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $178.34, for a total value of $363,100.24. Following the transaction, the director directly owned 14,299 shares in the company, valued at $2,550,083.66. This trade represents a 12.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 230,874 shares of company stock valued at $42,187,714. 1.00% of the stock is owned by insiders.

Analysts Set New Price Targets

ICE has been the subject of several recent analyst reports. UBS Group lifted their price target on Intercontinental Exchange from $195.00 to $210.00 and gave the company a “buy” rating in a report on Tuesday, July 8th. JPMorgan Chase & Co. raised their target price on shares of Intercontinental Exchange from $195.00 to $203.00 and gave the stock an “overweight” rating in a research report on Thursday, September 25th. Barclays upped their price target on shares of Intercontinental Exchange from $206.00 to $212.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Weiss Ratings reiterated a “buy (b)” rating on shares of Intercontinental Exchange in a report on Saturday, September 27th. Finally, Piper Sandler boosted their price objective on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the company an “overweight” rating in a research note on Tuesday, July 15th. Nine analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Intercontinental Exchange has a consensus rating of “Moderate Buy” and a consensus target price of $198.20.

Intercontinental Exchange Price Performance

ICE opened at $158.96 on Tuesday. Intercontinental Exchange Inc. has a 52-week low of $142.29 and a 52-week high of $189.35. The company has a 50 day moving average of $176.06 and a two-hundred day moving average of $174.56. The company has a market cap of $90.99 billion, a P/E ratio of 30.51, a P/E/G ratio of 1.98 and a beta of 1.08. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.61.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, July 31st. The financial services provider reported $1.81 earnings per share 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 business had revenue of $3.26 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same quarter in the previous year, the business posted $1.52 EPS. The business’s quarterly revenue was up 9.8% on a year-over-year basis. On average, analysts expect that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

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.