Wealthspire Advisors LLC Grows Position in Intercontinental Exchange Inc. $ICE

Wealthspire Advisors LLC grew its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 70.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,336 shares of the financial services provider’s stock after purchasing an additional 1,799 shares during the quarter. Wealthspire Advisors LLC’s holdings in Intercontinental Exchange were worth $795,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Advisors Capital Management LLC boosted its position in Intercontinental Exchange by 25.0% during the first quarter. Advisors Capital Management LLC now owns 1,978 shares of the financial services provider’s stock worth $341,000 after purchasing an additional 396 shares in the last quarter. Trillium Asset Management LLC raised its stake in shares of Intercontinental Exchange by 12.0% during the 2nd quarter. Trillium Asset Management LLC now owns 272,010 shares of the financial services provider’s stock worth $49,907,000 after buying an additional 29,250 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of Intercontinental Exchange by 6.6% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 886,369 shares of the financial services provider’s stock worth $161,195,000 after buying an additional 55,057 shares during the period. King Luther Capital Management Corp lifted its position in shares of Intercontinental Exchange by 19.7% during the 2nd quarter. King Luther Capital Management Corp now owns 294,112 shares of the financial services provider’s stock valued at $53,961,000 after buying an additional 48,344 shares in the last quarter. Finally, Lecap Asset Management Ltd. acquired a new stake in Intercontinental Exchange in the 2nd quarter valued at $1,075,000. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have weighed in on ICE. Raymond James Financial upgraded shares of Intercontinental Exchange from an “outperform” rating to a “strong-buy” rating and set a $210.00 price objective for the company in a research report on Monday, October 13th. TD Cowen cut their target price on shares of Intercontinental Exchange from $199.00 to $175.00 and set a “buy” rating for the company in a research note on Friday, October 31st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Intercontinental Exchange in a research note on Wednesday, October 8th. Morgan Stanley lowered their price objective on Intercontinental Exchange from $188.00 to $178.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 21st. Finally, Barclays set a $183.00 target price on Intercontinental Exchange and gave the company an “overweight” rating in a report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $194.70.

Intercontinental Exchange Stock Down 1.2%

Shares of NYSE ICE opened at $151.84 on Friday. The stock has a market cap of $86.58 billion, a PE ratio of 29.14, a P/E/G ratio of 2.11 and a beta of 1.06. 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 12-month low of $142.29 and a 12-month high of $189.35. The company has a 50-day moving average of $158.43 and a 200 day moving average of $172.18.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, October 30th. The financial services provider reported $1.71 earnings per share for the quarter, hitting the consensus estimate of $1.71. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.The business had revenue of $3.01 billion for the quarter, compared to analysts’ expectations of $2.49 billion. During the same period in the previous year, the firm posted $1.55 EPS. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. As a group, sell-side analysts predict that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CTO Mayur Kapani sold 10,082 shares of Intercontinental Exchange stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $158.88, for a total transaction of $1,601,828.16. Following the transaction, the chief technology officer owned 65,240 shares in the company, valued at $10,365,331.20. The trade was a 13.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Judith A. Sprieser sold 2,900 shares of Intercontinental Exchange stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $174.51, for a total transaction of $506,079.00. Following the transaction, the director directly owned 18,169 shares in the company, valued at $3,170,672.19. This trade represents a 13.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 23,488 shares of company stock worth $3,914,346 over the last quarter. Corporate insiders own 1.00% of the company’s stock.

Intercontinental Exchange 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.