Tulsa Wealth Advisors INC Takes Position in Intercontinental Exchange Inc. $ICE

Tulsa Wealth Advisors INC bought a new position in Intercontinental Exchange Inc. (NYSE:ICE) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,751 shares of the financial services provider’s stock, valued at approximately $607,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Reflection Asset Management acquired a new stake in shares of Intercontinental Exchange during the 4th quarter worth approximately $90,000. Sankala Group LLC acquired a new position in shares of Intercontinental Exchange in the 4th quarter valued at $65,000. MidFirst Bank purchased a new stake in Intercontinental Exchange during the fourth quarter worth $357,000. Pacer Advisors Inc. boosted its holdings in Intercontinental Exchange by 11.3% during the fourth quarter. Pacer Advisors Inc. now owns 52,186 shares of the financial services provider’s stock worth $8,452,000 after buying an additional 5,279 shares in the last quarter. Finally, Nolet Wealth Management LLC acquired a new stake in Intercontinental Exchange during the fourth quarter valued at $358,000. 89.30% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 4,573 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $151.56, for a total transaction of $693,083.88. Following the completion of the transaction, the general counsel owned 45,473 shares of the company’s stock, valued at $6,891,887.88. This represents a 9.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William Jefferson Hague sold 1,333 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $139.46, for a total value of $185,900.18. Following the completion of the transaction, the director owned 20,132 shares in the company, valued at approximately $2,807,608.72. This trade represents a 6.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 13,425 shares of company stock worth $2,046,324. Company insiders own 0.84% of the company’s stock.

Intercontinental Exchange Stock Performance

NYSE:ICE opened at $133.76 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01. The company has a fifty day moving average of $151.34 and a two-hundred day moving average of $158.60. The stock has a market capitalization of $75.64 billion, a PE ratio of 19.47, a P/E/G ratio of 1.28 and a beta of 0.92. Intercontinental Exchange Inc. has a fifty-two week low of $132.84 and a fifty-two week high of $189.35.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, April 30th. The financial services provider reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.23 by $0.12. The business had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $2.88 billion. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The company’s revenue was up 20.4% compared to the same quarter last year. During the same period last year, the firm posted $1.72 earnings per share. As a group, research analysts forecast that Intercontinental Exchange Inc. will post 8.16 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft raised shares of Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 price objective for the company in a report on Friday, March 6th. Piper Sandler restated an “overweight” rating and set a $211.00 target price (up from $195.00) on shares of Intercontinental Exchange in a research report on Wednesday, April 15th. Morgan Stanley lifted their price target on Intercontinental Exchange from $183.00 to $187.00 and gave the company an “equal weight” rating in a research note on Friday, April 10th. Weiss Ratings cut Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday. Finally, Barclays reiterated an “overweight” rating and set a $201.00 price target (up from $198.00) on shares of Intercontinental Exchange in a research report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Intercontinental Exchange has an average rating of “Moderate Buy” and an average price target of $193.00.

Intercontinental Exchange Profile

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.