LVW Advisors LLC Raises Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

LVW Advisors LLC lifted its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 6.9% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,184 shares of the financial services provider’s stock after buying an additional 141 shares during the quarter. LVW Advisors LLC’s holdings in Intercontinental Exchange were worth $300,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Ancora Advisors LLC lifted its position in shares of Intercontinental Exchange by 18.6% during the third quarter. Ancora Advisors LLC now owns 1,428 shares of the financial services provider’s stock valued at $157,000 after buying an additional 224 shares during the last quarter. Jones Financial Companies Lllp acquired a new stake in Intercontinental Exchange in the 3rd quarter valued at $26,000. SRS Capital Advisors Inc. lifted its holdings in Intercontinental Exchange by 21.9% in the 3rd quarter. SRS Capital Advisors Inc. now owns 823 shares of the financial services provider’s stock valued at $91,000 after purchasing an additional 148 shares in the last quarter. Truist Financial Corp lifted its holdings in Intercontinental Exchange by 31.6% in the 3rd quarter. Truist Financial Corp now owns 154,136 shares of the financial services provider’s stock valued at $16,958,000 after purchasing an additional 37,054 shares in the last quarter. Finally, Axxcess Wealth Management LLC purchased a new position in shares of Intercontinental Exchange during the 3rd quarter worth $1,299,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Insider Transactions at Intercontinental Exchange

In related news, major shareholder Intercontinental Exchange, Inc bought 350,880 shares of the company’s stock in a transaction dated Thursday, April 25th. The stock was acquired at an average cost of $0.87 per share, with a total value of $305,265.60. Following the acquisition, the insider now owns 649,934 shares in the company, valued at approximately $565,442.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Judith A. Sprieser sold 2,267 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $134.57, for a total transaction of $305,070.19. Following the completion of the sale, the director now directly owns 28,849 shares of the company’s stock, valued at approximately $3,882,209.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Intercontinental Exchange, Inc purchased 350,880 shares of the company’s stock in a transaction that occurred on Thursday, April 25th. The shares were acquired at an average cost of $0.87 per share, with a total value of $305,265.60. Following the completion of the acquisition, the insider now directly owns 649,934 shares in the company, valued at $565,442.58. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 62,894 shares of company stock valued at $8,620,792. Corporate insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on ICE. The Goldman Sachs Group raised Intercontinental Exchange from a “neutral” rating to a “buy” rating and lifted their target price for the company from $143.00 to $167.00 in a research report on Monday. Argus restated a “buy” rating and set a $153.00 price target on shares of Intercontinental Exchange in a research note on Tuesday, May 21st. Bank of America dropped their price objective on Intercontinental Exchange from $156.00 to $153.00 and set a “buy” rating on the stock in a report on Friday, April 19th. StockNews.com lowered Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Friday, May 31st. Finally, Barclays decreased their price objective on Intercontinental Exchange from $155.00 to $150.00 and set an “overweight” rating on the stock in a research note on Friday, May 3rd. One research analyst has rated the stock with a sell rating, one has issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $151.29.

Intercontinental Exchange Trading Down 0.4 %

Intercontinental Exchange stock opened at $136.89 on Monday. The business has a 50 day moving average price of $134.52 and a two-hundred day moving average price of $132.90. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.76. The stock has a market cap of $78.52 billion, a price-to-earnings ratio of 31.40, a price-to-earnings-growth ratio of 2.55 and a beta of 1.06. Intercontinental Exchange, Inc. has a 12 month low of $104.49 and a 12 month high of $140.43.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, May 2nd. The financial services provider reported $1.48 EPS for the quarter, meeting the consensus estimate of $1.48. The firm had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.31 billion. Intercontinental Exchange had a return on equity of 12.76% and a net margin of 24.24%. The company’s revenue for the quarter was up 20.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.41 EPS. As a group, equities analysts forecast that Intercontinental Exchange, Inc. will post 5.96 EPS for the current year.

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.