Intercontinental Exchange Inc. $ICE Shares Purchased by Soltis Investment Advisors LLC

Soltis Investment Advisors LLC grew its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 59.9% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,964 shares of the financial services provider’s stock after purchasing an additional 1,110 shares during the period. Soltis Investment Advisors LLC’s holdings in Intercontinental Exchange were worth $544,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in ICE. Vanguard Group Inc. grew its position in Intercontinental Exchange by 1.4% during the first quarter. Vanguard Group Inc. now owns 52,940,356 shares of the financial services provider’s stock worth $9,132,211,000 after buying an additional 712,179 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Intercontinental Exchange by 491.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,433,497 shares of the financial services provider’s stock worth $1,109,780,000 after acquiring an additional 5,345,388 shares during the period. Amundi raised its holdings in Intercontinental Exchange by 14.7% during the first quarter. Amundi now owns 6,315,706 shares of the financial services provider’s stock worth $1,060,574,000 after purchasing an additional 810,938 shares during the last quarter. Independent Franchise Partners LLP raised its holdings in Intercontinental Exchange by 0.5% during the first quarter. Independent Franchise Partners LLP now owns 6,192,424 shares of the financial services provider’s stock worth $1,068,193,000 after purchasing an additional 31,588 shares during the last quarter. Finally, Wellington Management Group LLP boosted its position in Intercontinental Exchange by 113.9% during the first quarter. Wellington Management Group LLP now owns 5,943,363 shares of the financial services provider’s stock worth $1,025,230,000 after purchasing an additional 3,165,381 shares in the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Insider Activity

In other news, Director Judith A. Sprieser sold 2,900 shares of the firm’s stock in a transaction on Thursday, September 4th. The shares were 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 of the company’s stock, valued at approximately $3,170,672.19. This trade represents a 13.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Douglas Foley sold 1,600 shares of the stock in a transaction on Friday, September 12th. The shares were sold at an average price of $175.62, for a total value of $280,992.00. Following the completion of the sale, the senior vice president owned 25,796 shares of the company’s stock, valued at approximately $4,530,293.52. This represents a 5.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 240,162 shares of company stock worth $43,642,652. Insiders own 1.00% of the company’s stock.

Intercontinental Exchange Price Performance

Intercontinental Exchange stock opened at $147.41 on Friday. Intercontinental Exchange Inc. has a 1 year low of $142.29 and a 1 year 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 firm has a 50 day moving average price of $163.02 and a 200 day moving average price of $173.07. The company has a market cap of $84.05 billion, a price-to-earnings ratio of 28.29, a PEG ratio of 2.11 and a beta of 1.06.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, October 30th. The financial services provider reported $1.71 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.71. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The company had revenue of $2.41 billion during the quarter, compared to analysts’ expectations of $2.49 billion. During the same period in the previous year, the company earned $1.55 EPS. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. Sell-side analysts predict that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently commented on ICE shares. UBS Group decreased their price objective on shares of Intercontinental Exchange from $215.00 to $200.00 and set a “buy” rating on the stock in a research report on Friday, October 31st. Piper Sandler increased their price target on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the company an “overweight” rating in a research report on Tuesday, July 15th. Morgan Stanley dropped their price objective on shares of Intercontinental Exchange from $188.00 to $178.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 21st. TD Cowen dropped their price objective on Intercontinental Exchange from $199.00 to $175.00 and set a “buy” rating for the company in a research report on Friday, October 31st. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Intercontinental Exchange in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $191.82.

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.