Institute for Wealth Management LLC. Increases Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

Institute for Wealth Management LLC. increased its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 7.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,844 shares of the financial services provider’s stock after buying an additional 200 shares during the period. Institute for Wealth Management LLC.’s holdings in Intercontinental Exchange were worth $424,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Wolff Wiese Magana LLC raised its holdings in shares of Intercontinental Exchange by 1,470.0% in the 3rd 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 purchased a new position in Intercontinental Exchange in the third quarter valued at $26,000. Financial Management Professionals Inc. raised its stake in Intercontinental Exchange by 106.1% in the third quarter. Financial Management Professionals Inc. now owns 169 shares of the financial services provider’s stock valued at $27,000 after buying an additional 87 shares in the last quarter. Capital Performance Advisors LLP purchased a new stake in Intercontinental Exchange during the 3rd quarter worth about $29,000. Finally, FSA Wealth Management LLC acquired a new position in shares of Intercontinental Exchange during the 3rd quarter worth about $31,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Intercontinental Exchange Stock Up 0.2 %

ICE stock opened at $159.82 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.00 and a quick ratio of 1.00. Intercontinental Exchange, Inc. has a 12 month low of $124.34 and a 12 month high of $167.99. The firm has a market capitalization of $91.77 billion, a PE ratio of 37.87, a P/E/G ratio of 3.01 and a beta of 1.10. The company’s 50 day simple moving average is $153.11 and its 200-day simple moving average is $156.35.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, October 31st. The financial services provider reported $1.55 EPS for the quarter, meeting analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $2.35 billion. During the same quarter in the prior year, the firm earned $1.46 EPS. Intercontinental Exchange’s quarterly revenue was up 17.3% on a year-over-year basis. Equities analysts expect that Intercontinental Exchange, Inc. will post 6.05 earnings per share for the current fiscal year.

Insider Activity at Intercontinental Exchange

In related news, President Benjamin Jackson sold 5,828 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $160.00, for a total transaction of $932,480.00. Following the transaction, the president now owns 156,163 shares of the company’s stock, valued at approximately $24,986,080. This represents a 3.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CTO Mayur Kapani sold 5,661 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $147.59, for a total transaction of $835,506.99. Following the completion of the sale, the chief technology officer now directly owns 66,548 shares of the company’s stock, valued at $9,821,819.32. The trade was a 7.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 13,795 shares of company stock valued at $2,120,572 over the last quarter. Insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on ICE. StockNews.com cut Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Wednesday, January 8th. Piper Sandler boosted their price objective on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Raymond James cut Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 target price on the stock. in a research report on Monday, October 14th. Keefe, Bruyette & Woods cut their target price on Intercontinental Exchange from $183.00 to $178.00 and set an “outperform” rating for the company in a research note on Monday, January 13th. Finally, JPMorgan Chase & Co. decreased their price target on Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $175.27.

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.