Intercontinental Exchange Inc. $ICE Shares Bought by Chemung Canal Trust Co.

Chemung Canal Trust Co. raised its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 15.2% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 18,071 shares of the financial services provider’s stock after acquiring an additional 2,380 shares during the period. Chemung Canal Trust Co.’s holdings in Intercontinental Exchange were worth $3,315,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Tritonpoint Wealth LLC raised its holdings in Intercontinental Exchange by 1.4% in the 2nd quarter. Tritonpoint Wealth LLC now owns 4,347 shares of the financial services provider’s stock valued at $798,000 after acquiring an additional 58 shares during the last quarter. RB Capital Management LLC raised its holdings in Intercontinental Exchange by 1.3% in the 2nd quarter. RB Capital Management LLC now owns 4,584 shares of the financial services provider’s stock valued at $841,000 after acquiring an additional 59 shares during the last quarter. Chemistry Wealth Management LLC raised its holdings in Intercontinental Exchange by 0.8% in the 2nd quarter. Chemistry Wealth Management LLC now owns 7,847 shares of the financial services provider’s stock valued at $1,440,000 after acquiring an additional 60 shares during the last quarter. Institute for Wealth Management LLC. raised its holdings in Intercontinental Exchange by 1.9% in the 2nd quarter. Institute for Wealth Management LLC. now owns 3,255 shares of the financial services provider’s stock valued at $597,000 after acquiring an additional 60 shares during the last quarter. Finally, Fielder Capital Group LLC raised its holdings in Intercontinental Exchange by 2.2% in the 1st quarter. Fielder Capital Group LLC now owns 2,808 shares of the financial services provider’s stock valued at $484,000 after acquiring an additional 61 shares during the last quarter. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Intercontinental Exchange Stock Up 0.9%

Shares of Intercontinental Exchange stock opened at $162.47 on Friday. The company has a fifty day moving average price of $176.53 and a 200 day moving average price of $174.68. 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 twelve month low of $142.29 and a twelve month high of $189.35. The stock has a market cap of $93.00 billion, a price-to-earnings ratio of 31.18, a price-to-earnings-growth ratio of 1.98 and a beta of 1.08.

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

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. JPMorgan Chase & Co. upped their price objective on Intercontinental Exchange from $195.00 to $203.00 and gave the stock an “overweight” rating in a report on Thursday, September 25th. Weiss Ratings restated a “buy (b)” rating on shares of Intercontinental Exchange in a report on Saturday, September 27th. Barclays upped their price objective on Intercontinental Exchange from $206.00 to $212.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Piper Sandler upped their price objective on Intercontinental Exchange from $180.00 to $202.00 and gave the stock an “overweight” rating in a report on Tuesday, July 15th. Finally, Morgan Stanley dropped their price objective on Intercontinental Exchange from $192.00 to $188.00 and set an “equal weight” rating for the company in a report on Wednesday. Nine analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $198.20.

Insider Buying and Selling

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 3,850 shares of the company’s stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $178.33, for a total value of $686,570.50. Following the completion of the transaction, the general counsel directly owned 46,293 shares of the company’s stock, valued at $8,255,430.69. This represents a 7.68% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Douglas Foley sold 1,600 shares of the company’s stock in a transaction dated Friday, September 12th. The shares were 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 directly owned 25,796 shares of the company’s stock, valued at approximately $4,530,293.52. The trade was a 5.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 230,874 shares of company stock worth $42,187,714 over the last quarter. Company insiders own 1.00% of the company’s stock.

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.