Intercontinental Exchange Inc. $ICE Shares Bought by Drive Wealth Management LLC

Drive Wealth Management LLC lifted its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 11.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,867 shares of the financial services provider’s stock after purchasing an additional 187 shares during the quarter. Drive Wealth Management LLC’s holdings in Intercontinental Exchange were worth $342,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in ICE. Princeton Global Asset Management LLC purchased a new position in Intercontinental Exchange in the second quarter valued at $28,000. Tsfg LLC boosted its stake in shares of Intercontinental Exchange by 187.3% during the 1st quarter. Tsfg LLC now owns 158 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 103 shares in the last quarter. Activest Wealth Management grew its position in shares of Intercontinental Exchange by 4,050.0% during the 1st quarter. Activest Wealth Management now owns 166 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 162 shares during the period. Hilltop National Bank purchased a new position in shares of Intercontinental Exchange in the 2nd quarter valued at about $31,000. Finally, McClarren Financial Advisors Inc. purchased a new position in shares of Intercontinental Exchange in the 1st quarter valued at about $30,000. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Intercontinental Exchange news, Director Duriya M. Farooqui sold 2,036 shares of the firm’s stock in a transaction that occurred on Wednesday, August 27th. The shares were 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 of the company’s stock, valued at $2,550,083.66. This trade represents a 12.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Judith A. Sprieser sold 2,900 shares of the business’s stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $174.51, for a total value of $506,079.00. Following the transaction, the director owned 18,169 shares in the company, valued at approximately $3,170,672.19. This represents a 13.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 240,956 shares of company stock worth $43,789,542 in the last 90 days. Corporate insiders own 1.00% of the company’s stock.

Intercontinental Exchange Trading Up 1.1%

Shares of ICE stock opened at $155.36 on Tuesday. Intercontinental Exchange Inc. has a fifty-two week low of $142.29 and a fifty-two week high of $189.35. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.01. The stock’s fifty day moving average is $170.25 and its two-hundred day moving average is $173.57. The firm has a market capitalization of $88.93 billion, a P/E ratio of 29.82, a PEG ratio of 2.14 and a beta of 1.08.

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

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ICE. Morgan Stanley lowered their price target on Intercontinental Exchange from $192.00 to $188.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 1st. Raymond James Financial upgraded Intercontinental Exchange from an “outperform” rating to a “strong-buy” rating and set a $210.00 target price on the stock in a research report on Monday, October 13th. Weiss Ratings reissued a “buy (b)” rating on shares of Intercontinental Exchange in a report on Wednesday, October 8th. Piper Sandler upped their price objective on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 15th. Finally, 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 report on Thursday, September 25th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $199.60.

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.