Venturi Wealth Management LLC Has $757,000 Stake in Intercontinental Exchange Inc. $ICE

Venturi Wealth Management LLC increased its position in Intercontinental Exchange Inc. (NYSE:ICE) by 25.2% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 4,124 shares of the financial services provider’s stock after purchasing an additional 830 shares during the period. Venturi Wealth Management LLC’s holdings in Intercontinental Exchange were worth $757,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Shell Asset Management Co. boosted its stake in Intercontinental Exchange by 63.0% in the 2nd quarter. Shell Asset Management Co. now owns 36,229 shares of the financial services provider’s stock worth $6,647,000 after purchasing an additional 14,005 shares during the period. KLP Kapitalforvaltning AS boosted its stake in shares of Intercontinental Exchange by 6.1% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 207,385 shares of the financial services provider’s stock valued at $38,049,000 after buying an additional 11,900 shares during the period. Hardy Reed LLC boosted its stake in shares of Intercontinental Exchange by 1.5% during the 2nd quarter. Hardy Reed LLC now owns 10,279 shares of the financial services provider’s stock valued at $1,886,000 after buying an additional 148 shares during the period. SteelPeak Wealth LLC acquired a new stake in shares of Intercontinental Exchange during the 2nd quarter valued at $288,000. Finally, Iowa State Bank boosted its stake in shares of Intercontinental Exchange by 0.7% during the 2nd quarter. Iowa State Bank now owns 25,094 shares of the financial services provider’s stock valued at $4,604,000 after buying an additional 185 shares during the period. Institutional investors and hedge funds own 89.30% of the company’s stock.

Analyst Ratings Changes

ICE has been the subject of a number of research reports. Barclays reissued an “overweight” rating and set a $201.00 target price (down previously from $212.00) on shares of Intercontinental Exchange in a research note on Wednesday. JPMorgan Chase & Co. lifted their target price on shares of Intercontinental Exchange from $195.00 to $203.00 and gave the company an “overweight” rating in a research note on Thursday, September 25th. Morgan Stanley decreased their target price on shares of Intercontinental Exchange from $192.00 to $188.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 1st. Piper Sandler lifted their target price 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. Finally, Keefe, Bruyette & Woods upgraded shares of Intercontinental Exchange to a “moderate buy” rating in a report on Monday. Nine investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $197.10.

Insider Transactions at Intercontinental Exchange

In related news, CEO Jeffrey C. Sprecher sold 150,000 shares of Intercontinental Exchange stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $183.09, for a total value of $27,463,500.00. Following the transaction, the chief executive officer owned 1,951,705 shares in the company, valued at $357,337,668.45. This trade represents a 7.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Douglas Foley sold 1,600 shares of Intercontinental Exchange stock in a transaction on Friday, September 12th. The stock was sold at an average price of $175.62, for a total transaction of $280,992.00. Following the completion of the transaction, the senior vice president owned 25,796 shares in the company, valued at $4,530,293.52. This trade represents a 5.84% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 230,874 shares of company stock worth $42,187,714. Corporate insiders own 1.00% of the company’s stock.

Intercontinental Exchange Stock Down 0.2%

Intercontinental Exchange stock opened at $159.11 on Friday. The company has a market capitalization of $91.08 billion, a P/E ratio of 30.54, a P/E/G ratio of 1.94 and a beta of 1.08. The firm’s fifty day simple moving average is $174.55 and its 200-day simple moving average is $174.26. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. Intercontinental Exchange Inc. has a 1-year low of $142.29 and a 1-year high of $189.35.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, July 31st. The financial services provider reported $1.81 earnings per share for the quarter, beating analysts’ consensus estimates of $1.77 by $0.04. The business had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $2.50 billion. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. Intercontinental Exchange’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.52 EPS. Sell-side analysts forecast that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Company Profile

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.