JGP Wealth Management LLC Grows Position in Intercontinental Exchange, Inc. (NYSE:ICE)

JGP Wealth Management LLC raised its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 1.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 78,570 shares of the financial services provider’s stock after purchasing an additional 827 shares during the quarter. Intercontinental Exchange makes up approximately 1.5% of JGP Wealth Management LLC’s portfolio, making the stock its 21st largest holding. JGP Wealth Management LLC’s holdings in Intercontinental Exchange were worth $11,708,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Wolff Wiese Magana LLC lifted its holdings in 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 during the last quarter. Northwest Investment Counselors LLC purchased a new stake in Intercontinental Exchange during the third quarter valued at about $26,000. Financial Management Professionals Inc. lifted its holdings in Intercontinental Exchange by 106.1% during the third 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 last quarter. Fairscale Capital LLC purchased a new stake in Intercontinental Exchange during the second quarter valued at about $25,000. Finally, Capital Performance Advisors LLP bought a new stake in shares of Intercontinental Exchange during the third quarter valued at about $29,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, General Counsel Andrew J. Surdykowski sold 955 shares of the firm’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $156.08, for a total value of $149,056.40. Following the completion of the sale, the general counsel now owns 44,702 shares of the company’s stock, valued at $6,977,088.16. This trade represents a 2.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, President Benjamin Jackson sold 5,828 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $160.00, for a total value of $932,480.00. Following the completion of the sale, the president now directly owns 156,163 shares of the company’s stock, valued at $24,986,080. The trade was a 3.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,533 shares of company stock valued at $1,196,279 over the last quarter. 1.10% of the stock is owned by company insiders.

Intercontinental Exchange Stock Performance

NYSE:ICE opened at $150.11 on Friday. The firm has a market cap of $86.19 billion, a PE ratio of 35.57, a price-to-earnings-growth ratio of 2.29 and a beta of 1.10. Intercontinental Exchange, Inc. has a fifty-two week low of $124.34 and a fifty-two week high of $167.99. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.00 and a current ratio of 1.00. The business has a 50 day moving average price of $153.47 and a 200-day moving average price of $155.48.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.55. The firm had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.35 billion. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The business’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.46 earnings per share. Equities research analysts predict that Intercontinental Exchange, Inc. will post 6.06 earnings per share for the current year.

Analysts Set New Price Targets

ICE has been the topic of several analyst reports. TD Cowen initiated coverage on Intercontinental Exchange in a research report on Thursday, September 26th. They set a “buy” rating and a $182.00 price target on the stock. The Goldman Sachs Group upped their price target on Intercontinental Exchange from $171.00 to $185.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Raymond James cut Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 price target on the stock. in a research report on Monday, October 14th. Piper Sandler upped their price target on Intercontinental Exchange from $170.00 to $180.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Finally, Morgan Stanley upped their price objective on shares of Intercontinental Exchange from $160.00 to $174.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $175.20.

About Intercontinental Exchange

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.