Copley Financial Group Inc. Invests $478,000 in Intercontinental Exchange, Inc. (NYSE:ICE)

Copley Financial Group Inc. acquired a new stake in Intercontinental Exchange, Inc. (NYSE:ICE) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 2,978 shares of the financial services provider’s stock, valued at approximately $478,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Wolff Wiese Magana LLC boosted its stake in shares of Intercontinental Exchange by 1,470.0% in 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 during the period. Northwest Investment Counselors LLC purchased a new position in Intercontinental Exchange in the 3rd quarter valued at approximately $26,000. Financial Management Professionals Inc. grew its stake in shares of Intercontinental Exchange by 106.1% in the third quarter. Financial Management Professionals Inc. now owns 169 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 87 shares in the last quarter. Fairscale Capital LLC acquired a new position in shares of Intercontinental Exchange during the second quarter worth about $25,000. Finally, Capital Performance Advisors LLP acquired a new position in shares of Intercontinental Exchange during the third quarter worth $29,000. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Intercontinental Exchange news, President Benjamin Jackson sold 5,828 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $160.00, for a total value of $932,480.00. Following the transaction, the president now owns 156,163 shares in the company, valued at $24,986,080. The trade was a 3.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 955 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $156.08, for a total transaction of $149,056.40. Following the completion of the transaction, the general counsel now directly owns 44,702 shares of the company’s stock, valued at approximately $6,977,088.16. The trade was a 2.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,901 shares of company stock valued at $1,582,542. Company insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

ICE has been the subject of a number of research reports. TD Cowen started coverage on shares of Intercontinental Exchange in a research report on Thursday, September 26th. They issued a “buy” rating and a $182.00 price target for the company. Bank of America raised their price target on Intercontinental Exchange from $168.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Morgan Stanley boosted their price target on Intercontinental Exchange from $160.00 to $174.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Piper Sandler increased their price target 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. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Intercontinental Exchange from $160.00 to $163.00 and gave the company a “hold” rating in a report on Monday, November 11th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $175.07.

Intercontinental Exchange Trading Down 0.5 %

ICE stock traded down $0.72 during trading on Friday, reaching $155.83. 186,661 shares of the stock traded hands, compared to its average volume of 2,591,720. The firm has a market capitalization of $89.47 billion, a PE ratio of 37.10, a P/E/G ratio of 2.61 and a beta of 1.08. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.00 and a quick ratio of 1.00. The business’s 50 day moving average price is $160.04 and its 200-day moving average price is $153.11. Intercontinental Exchange, Inc. has a 52-week low of $121.56 and a 52-week high of $167.99.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.55. The firm had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.35 billion. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The company’s revenue was up 17.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.46 EPS. As a group, sell-side analysts forecast that Intercontinental Exchange, Inc. will post 6.07 earnings per share 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.