PFW Advisors LLC Invests $2.48 Million in Intercontinental Exchange, Inc. (NYSE:ICE)

PFW Advisors LLC acquired a new stake in Intercontinental Exchange, Inc. (NYSE:ICEFree Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 16,648 shares of the financial services provider’s stock, valued at approximately $2,481,000. Intercontinental Exchange accounts for 0.8% of PFW Advisors LLC’s investment portfolio, making the stock its 29th largest holding.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Fairscale Capital LLC purchased a new stake in Intercontinental Exchange during the second quarter worth $25,000. Wolff Wiese Magana LLC increased its holdings in Intercontinental Exchange by 1,470.0% during the 3rd quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 147 shares in the last quarter. Northwest Investment Counselors LLC purchased a new position in Intercontinental Exchange during the 3rd quarter valued at about $26,000. Financial Management Professionals Inc. raised its position in Intercontinental Exchange by 106.1% during the third quarter. Financial Management Professionals Inc. now owns 169 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 87 shares during the last quarter. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Intercontinental Exchange in the third quarter valued at about $29,000. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Intercontinental Exchange Trading Up 0.7 %

Shares of ICE stock traded up $1.04 during mid-day trading on Monday, reaching $143.84. The company’s stock had a trading volume of 3,358,025 shares, compared to its average volume of 3,005,327. The company’s 50 day simple moving average is $154.09 and its 200-day simple moving average is $155.43. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.68. Intercontinental Exchange, Inc. has a 12-month low of $124.34 and a 12-month high of $167.99. The firm has a market capitalization of $82.59 billion, a PE ratio of 34.09, a price-to-earnings-growth ratio of 2.57 and a beta of 1.10.

Intercontinental Exchange (NYSE:ICEGet Free Report) last issued its earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, hitting the consensus estimate of $1.55. The company had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.35 billion. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The company’s revenue was up 17.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.46 earnings per share. On average, research analysts predict that Intercontinental Exchange, Inc. will post 6.07 EPS for the current fiscal year.

Insider Buying and Selling

In other news, President Benjamin Jackson sold 5,828 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $160.00, for a total value of $932,480.00. Following the completion of the sale, the president now owns 156,163 shares of the company’s stock, valued at approximately $24,986,080. The trade was a 3.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Stuart Glen Williams sold 750 shares of the stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $152.99, for a total transaction of $114,742.50. Following the transaction, the chief operating officer now directly owns 12,780 shares in the company, valued at $1,955,212.20. The trade was a 5.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,533 shares of company stock valued at $1,196,279 in the last quarter. Company insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Raymond James downgraded Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 price objective for the company. in a research report on Monday, October 14th. Morgan Stanley upped their price objective on Intercontinental Exchange from $160.00 to $174.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft increased their price objective on Intercontinental Exchange from $160.00 to $163.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Piper Sandler upped their target price on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Finally, Bank of America raised their price target on shares of Intercontinental Exchange from $168.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $175.20.

Check Out Our Latest Stock Analysis on ICE

About Intercontinental Exchange

(Free Report)

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.

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Institutional Ownership by Quarter for Intercontinental Exchange (NYSE:ICE)

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