Intercontinental Exchange Inc. $ICE Shares Bought by Parkside Financial Bank & Trust

Parkside Financial Bank & Trust raised its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 21.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,945 shares of the financial services provider’s stock after purchasing an additional 344 shares during the period. Parkside Financial Bank & Trust’s holdings in Intercontinental Exchange were worth $357,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Princeton Global Asset Management LLC purchased a new position in Intercontinental Exchange in the 2nd quarter valued at about $28,000. Westside Investment Management Inc. purchased a new position in shares of Intercontinental Exchange in the second quarter valued at approximately $29,000. Activest Wealth Management lifted its position in shares of Intercontinental Exchange by 4,050.0% in the first 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 in the last quarter. Hilltop National Bank acquired a new stake in shares of Intercontinental Exchange in the second quarter worth approximately $31,000. Finally, McClarren Financial Advisors Inc. purchased a new stake in shares of Intercontinental Exchange during the first quarter worth approximately $30,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Trading Up 1.0%

Shares of Intercontinental Exchange stock opened at $148.93 on Monday. The firm has a market capitalization of $84.92 billion, a price-to-earnings ratio of 28.59, a PEG ratio of 2.11 and a beta of 1.06. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.01. Intercontinental Exchange Inc. has a fifty-two week low of $142.29 and a fifty-two week high of $189.35. The stock has a 50 day moving average of $162.47 and a 200 day moving average of $173.20.

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

Insider Buying and Selling at Intercontinental Exchange

In related news, Director Duriya M. Farooqui sold 2,036 shares of the stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $178.34, for a total transaction of $363,100.24. Following the completion of the transaction, the director owned 14,299 shares of the company’s stock, valued at approximately $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 accessible through this hyperlink. Also, CTO Mayur Kapani sold 10,082 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, October 8th. The shares were sold at an average price of $158.88, for a total transaction of $1,601,828.16. Following the completion of the sale, the chief technology officer owned 65,240 shares of the company’s stock, valued at $10,365,331.20. This trade represents a 13.39% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 240,162 shares of company stock valued at $43,642,652. 1.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ICE. Raymond James Financial upgraded Intercontinental Exchange from an “outperform” rating to a “strong-buy” rating and set a $210.00 price objective on the stock in a report on Monday, October 13th. Keefe, Bruyette & Woods raised shares of Intercontinental Exchange to a “moderate buy” rating in a research note on Monday, October 6th. TD Cowen dropped their price objective on shares of Intercontinental Exchange from $199.00 to $175.00 and set a “buy” rating for the company in a research note on Friday, October 31st. Piper Sandler increased their price objective on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the company an “overweight” rating in a report on Tuesday, July 15th. Finally, Barclays set a $183.00 target price on Intercontinental Exchange and gave the stock an “overweight” rating in a report on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Intercontinental Exchange presently has an average rating of “Moderate Buy” and an average target price 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.