Cassaday & Co Wealth Management LLC Takes Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Cassaday & Co Wealth Management LLC bought a new position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) in the third quarter, Holdings Channel reports. The firm bought 1,283 shares of the financial services provider’s stock, valued at approximately $206,000.

A number of other large investors have also recently added to or reduced their stakes in ICE. O Shaughnessy Asset Management LLC lifted its stake in shares of Intercontinental Exchange by 30.7% in the first quarter. O Shaughnessy Asset Management LLC now owns 39,759 shares of the financial services provider’s stock worth $5,464,000 after buying an additional 9,340 shares during the last quarter. UniSuper Management Pty Ltd lifted its position in Intercontinental Exchange by 200.2% during the 1st quarter. UniSuper Management Pty Ltd now owns 14,459 shares of the financial services provider’s stock worth $1,987,000 after acquiring an additional 9,642 shares during the last quarter. Lake Street Advisors Group LLC lifted its position in Intercontinental Exchange by 31.9% during the 1st quarter. Lake Street Advisors Group LLC now owns 4,543 shares of the financial services provider’s stock worth $624,000 after acquiring an additional 1,099 shares during the last quarter. National Bank of Canada FI grew its position in shares of Intercontinental Exchange by 44.2% in the first quarter. National Bank of Canada FI now owns 351,958 shares of the financial services provider’s stock valued at $47,159,000 after purchasing an additional 107,854 shares during the last quarter. Finally, Twin Capital Management Inc. bought a new position in shares of Intercontinental Exchange in the first quarter worth about $1,164,000. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Trading Up 1.4 %

Shares of ICE stock opened at $157.69 on Tuesday. The company has a market capitalization of $90.54 billion, a P/E ratio of 37.37, a P/E/G ratio of 2.57 and a beta of 1.08. Intercontinental Exchange, Inc. has a 12-month low of $110.64 and a 12-month high of $167.99. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.68. The firm has a 50-day moving average price of $160.89 and a 200 day moving average price of $150.44.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, October 31st. The financial services provider reported $1.55 EPS for the quarter, hitting the consensus estimate of $1.55. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The business had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same period in the previous year, the business earned $1.46 EPS. Intercontinental Exchange’s revenue was up 17.3% compared to the same quarter last year. Research analysts forecast that Intercontinental Exchange, Inc. will post 6.07 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have issued reports on ICE. JPMorgan Chase & Co. raised their target price on Intercontinental Exchange from $171.00 to $188.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Intercontinental Exchange from $160.00 to $163.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Barclays decreased their price target on shares of Intercontinental Exchange from $179.00 to $173.00 and set an “overweight” rating on the stock in a research report on Friday, November 1st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 price objective on shares of Intercontinental Exchange in a research report on Friday, November 1st. Finally, Piper Sandler lifted their target price on Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $174.13.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the company’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $159.57, for a total transaction of $326,799.36. Following the transaction, the general counsel now owns 44,865 shares of the company’s stock, valued at approximately $7,159,108.05. This represents a 4.37 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Warren Gardiner sold 750 shares of Intercontinental Exchange stock in a transaction on Monday, September 9th. The shares were sold at an average price of $161.43, for a total value of $121,072.50. Following the completion of the sale, the chief financial officer now directly owns 16,576 shares of the company’s stock, valued at $2,675,863.68. This trade represents a 4.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,489 shares of company stock valued at $1,202,259 over the last ninety days. 1.10% of the stock is owned by insiders.

Intercontinental Exchange Profile

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.