Charles Schwab Investment Management Inc. Purchases 21,615 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Charles Schwab Investment Management Inc. grew its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 0.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,142,092 shares of the financial services provider’s stock after acquiring an additional 21,615 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Intercontinental Exchange were worth $504,746,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Wolff Wiese Magana LLC increased its stake in shares of Intercontinental Exchange by 1,470.0% during the third quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 147 shares in the last quarter. Northwest Investment Counselors LLC bought a new position in shares of Intercontinental Exchange in the third quarter worth about $26,000. Financial Management Professionals Inc. raised its position in shares of Intercontinental Exchange by 106.1% during the 3rd quarter. Financial Management Professionals Inc. now owns 169 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 87 shares during the period. Fairscale Capital LLC bought a new stake in shares of Intercontinental Exchange during the second quarter valued at approximately $25,000. Finally, Capital Performance Advisors LLP bought a new position in shares of Intercontinental Exchange during the 3rd quarter valued at approximately $29,000. Institutional investors own 89.30% of the company’s stock.

Wall Street Analysts Forecast Growth

ICE has been the subject of several research reports. Barclays lowered their target price on Intercontinental Exchange from $179.00 to $173.00 and set an “overweight” rating for the company in a report on Friday, November 1st. Keefe, Bruyette & Woods restated an “outperform” rating and set a $168.00 target price on shares of Intercontinental Exchange in a research report on Tuesday, August 6th. TD Cowen assumed coverage on Intercontinental Exchange in a report on Thursday, September 26th. They issued a “buy” rating and a $182.00 price objective on the stock. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Intercontinental Exchange from $160.00 to $163.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Finally, Piper Sandler increased their price objective on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the company 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 assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $174.13.

Insider Buying and Selling at Intercontinental Exchange

In other news, General Counsel Andrew J. Surdykowski sold 2,048 shares of Intercontinental Exchange stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $159.57, for a total transaction of $326,799.36. Following the completion of the sale, the general counsel now owns 44,865 shares in the company, valued at approximately $7,159,108.05. This trade represents a 4.37 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Judith A. Sprieser sold 1,941 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $160.69, for a total transaction of $311,899.29. Following the completion of the transaction, the director now directly owns 26,908 shares in the company, valued at $4,323,846.52. The trade was a 6.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,809 shares of company stock worth $933,978 over the last ninety days. 1.10% of the stock is currently owned by company insiders.

Intercontinental Exchange Stock Up 1.9 %

Intercontinental Exchange stock opened at $158.70 on Friday. The firm has a market cap of $91.13 billion, a price-to-earnings ratio of 37.61, a PEG ratio of 2.61 and a beta of 1.08. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.00 and a current ratio of 1.00. Intercontinental Exchange, Inc. has a 52-week low of $111.82 and a 52-week high of $167.99. The firm has a 50 day moving average price of $160.68 and a two-hundred day moving average price of $150.72.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, October 31st. The financial services provider reported $1.55 EPS for the quarter, meeting the consensus estimate of $1.55. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The firm had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter in the previous year, the company posted $1.46 earnings per share. The company’s quarterly revenue was up 17.3% on a year-over-year basis. Equities analysts predict that Intercontinental Exchange, Inc. will post 6.07 EPS for the current year.

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.