Meriwether Wealth & Planning LLC Acquires Shares of 4,012 Intercontinental Exchange Inc. $ICE

Meriwether Wealth & Planning LLC bought a new stake in Intercontinental Exchange Inc. (NYSE:ICE) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 4,012 shares of the financial services provider’s stock, valued at approximately $494,000.

A number of other institutional investors and hedge funds have also modified their holdings of ICE. Castle Rock Wealth Management LLC boosted its holdings in Intercontinental Exchange by 6.5% in the 2nd quarter. Castle Rock Wealth Management LLC now owns 10,037 shares of the financial services provider’s stock worth $1,272,000 after buying an additional 616 shares during the last quarter. Czech National Bank raised its holdings in shares of Intercontinental Exchange by 4.1% during the second quarter. Czech National Bank now owns 160,966 shares of the financial services provider’s stock valued at $19,817,000 after acquiring an additional 6,302 shares during the last quarter. PensionDanmark Pensionsforsikringsaktieselskab raised its holdings in shares of Intercontinental Exchange by 15.1% during the second quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 133,682 shares of the financial services provider’s stock valued at $16,458,000 after acquiring an additional 17,490 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Intercontinental Exchange by 478.6% in the second quarter. Assenagon Asset Management S.A. now owns 496,030 shares of the financial services provider’s stock valued at $61,066,000 after acquiring an additional 410,305 shares in the last quarter. Finally, JGP Wealth Management LLC lifted its position in shares of Intercontinental Exchange by 2.0% in the second quarter. JGP Wealth Management LLC now owns 54,975 shares of the financial services provider’s stock valued at $6,768,000 after acquiring an additional 1,068 shares in the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on ICE shares. Morgan Stanley dropped their price target on Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating for the company in a research report on Friday, July 10th. UBS Group restated a “buy” rating and issued a $195.00 price objective (up from $190.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. Barclays reaffirmed an “overweight” rating and set a $182.00 target price (up from $180.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. Piper Sandler dropped their target price on shares of Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating for the company in a report on Wednesday, July 15th. Finally, Weiss Ratings raised shares of Intercontinental Exchange from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $183.33.

Insider Activity

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 4,573 shares of the firm’s stock in a transaction 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 sale, the general counsel owned 45,473 shares of the company’s stock, valued at $6,891,887.88. This trade represents a 9.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Mayur Kapani sold 4,271 shares of Intercontinental Exchange stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $155.42, for a total value of $663,798.82. Following the completion of the sale, the chief technology officer owned 64,869 shares in the company, valued at $10,081,939.98. This represents a 6.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 13,425 shares of company stock worth $2,046,324. 0.84% of the stock is owned by company insiders.

Intercontinental Exchange Price Performance

Intercontinental Exchange stock opened at $149.77 on Friday. Intercontinental Exchange Inc. has a 12-month low of $121.79 and a 12-month high of $189.35. The stock has a market cap of $84.08 billion, a P/E ratio of 21.15, a PEG ratio of 1.48 and a beta of 0.92. The company has a 50-day moving average price of $139.47 and a 200 day moving average price of $152.99. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, July 30th. The financial services provider reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.06. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The company had revenue of $3.61 billion for the quarter, compared to analyst estimates of $2.63 billion. During the same period in the previous year, the business posted $1.81 EPS. Intercontinental Exchange’s revenue was up 4.8% on a year-over-year basis. Sell-side analysts anticipate that Intercontinental Exchange Inc. will post 8.08 earnings per share for the current year.

Intercontinental Exchange Company 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.