Phillips Wealth Planners LLC Acquires Shares of 4,123 Intercontinental Exchange Inc. $ICE

Phillips Wealth Planners LLC acquired a new position in shares of Intercontinental Exchange Inc. (NYSE:ICE) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 4,123 shares of the financial services provider’s stock, valued at approximately $563,000.

Several other institutional investors have also recently made changes to their positions in ICE. Brighton Jones LLC increased its stake in Intercontinental Exchange by 51.3% in the 4th quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider’s stock valued at $514,000 after buying an additional 1,169 shares during the last quarter. Empowered Funds LLC grew its holdings in shares of Intercontinental Exchange by 9.0% in the first quarter. Empowered Funds LLC now owns 14,396 shares of the financial services provider’s stock valued at $2,483,000 after acquiring an additional 1,189 shares in the last quarter. Sivia Capital Partners LLC grew its holdings in shares of Intercontinental Exchange by 16.2% in the second quarter. Sivia Capital Partners LLC now owns 2,078 shares of the financial services provider’s stock valued at $381,000 after acquiring an additional 289 shares in the last quarter. NewEdge Advisors LLC increased its position in shares of Intercontinental Exchange by 27.9% during the second quarter. NewEdge Advisors LLC now owns 21,213 shares of the financial services provider’s stock valued at $3,892,000 after acquiring an additional 4,628 shares during the last quarter. Finally, Treasurer of the State of North Carolina increased its position in shares of Intercontinental Exchange by 2.4% during the second quarter. Treasurer of the State of North Carolina now owns 266,496 shares of the financial services provider’s stock valued at $48,894,000 after acquiring an additional 6,373 shares during the last quarter. Institutional investors own 89.30% of the company’s stock.

Insider Activity at Intercontinental Exchange

In related news, Director William Jefferson Hague sold 1,333 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of $139.46, for a total value of $185,900.18. Following the sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO Mayur Kapani sold 4,271 shares of Intercontinental Exchange stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $151.20, for a total value of $645,775.20. Following the sale, the chief technology officer directly owned 67,988 shares of the company’s stock, valued at $10,279,785.60. This represents a 5.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 18,376 shares of company stock valued at $2,746,946 in the last quarter. 0.84% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. The Goldman Sachs Group cut their price objective on Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating on the stock in a research report on Tuesday, June 30th. Raymond James Financial set a $208.00 target price on Intercontinental Exchange in a research report on Monday, July 6th. Barclays reiterated 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. Wall Street Zen lowered shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Saturday, August 1st. Finally, Piper Sandler reduced their price target on shares of Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating for the company in a research report on Wednesday, July 15th. One equities 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. According to MarketBeat.com, Intercontinental Exchange has a consensus rating of “Moderate Buy” and an average price target of $183.33.

Intercontinental Exchange Price Performance

Shares of NYSE ICE opened at $154.62 on Tuesday. The stock has a fifty day simple moving average of $140.90 and a two-hundred day simple moving average of $151.97. Intercontinental Exchange Inc. has a 1-year low of $121.79 and a 1-year high of $181.72. The firm has a market cap of $86.80 billion, a price-to-earnings ratio of 21.84, a price-to-earnings-growth ratio of 1.52 and a beta of 0.92. 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 issued its earnings results on Thursday, July 30th. The financial services provider reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.84 by $0.06. The firm had revenue of $3.61 billion during the quarter, compared to analyst estimates of $2.63 billion. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The company’s quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter last year, the business earned $1.81 earnings per share. Analysts anticipate that Intercontinental Exchange Inc. will post 8.1 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.