Magnus Financial Group LLC Makes New Investment in Intercontinental Exchange, Inc. (NYSE:ICE)

Magnus Financial Group LLC purchased a new position in Intercontinental Exchange, Inc. (NYSE:ICE) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,313 shares of the financial services provider’s stock, valued at approximately $211,000.

Other large investors have also bought and sold shares of the company. Annapolis Financial Services LLC grew its holdings in Intercontinental Exchange by 1,018.8% in the first quarter. Annapolis Financial Services LLC now owns 179 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 163 shares during the period. New Millennium Group LLC acquired a new stake in Intercontinental Exchange in the second quarter worth $25,000. International Assets Investment Management LLC acquired a new stake in Intercontinental Exchange in the second quarter worth $25,000. Fairscale Capital LLC acquired a new stake in Intercontinental Exchange in the second quarter worth $25,000. Finally, Redmont Wealth Advisors LLC acquired a new stake in Intercontinental Exchange in the first quarter worth $26,000. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ICE has been the subject of a number of analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of Intercontinental Exchange from $151.00 to $171.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price objective on shares of Intercontinental Exchange in a report on Friday, October 4th. Bank of America boosted their price target on shares of Intercontinental Exchange from $168.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Keefe, Bruyette & Woods restated an “outperform” rating and set a $168.00 price target on shares of Intercontinental Exchange in a report on Tuesday, August 6th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Intercontinental Exchange from $152.00 to $154.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $170.67.

Insiders Place Their Bets

In other news, COO Stuart Glen Williams sold 468 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total value of $76,195.08. Following the sale, the chief operating officer now owns 13,530 shares of the company’s stock, valued at $2,202,819.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, COO Stuart Glen Williams sold 468 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total value of $76,195.08. Following the sale, the chief operating officer now owns 13,530 shares of the company’s stock, valued at $2,202,819.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO James W. Namkung sold 1,043 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $150.00, for a total transaction of $156,450.00. Following the completion of the sale, the chief accounting officer now directly owns 17,836 shares in the company, valued at approximately $2,675,400. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 8,532 shares of company stock valued at $1,358,709. Company insiders own 1.10% of the company’s stock.

Intercontinental Exchange Stock Performance

Shares of ICE stock opened at $165.13 on Thursday. The firm has a market cap of $94.72 billion, a price-to-earnings ratio of 37.87, a P/E/G ratio of 2.62 and a beta of 1.08. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.99 and a current ratio of 0.99. Intercontinental Exchange, Inc. has a 52 week low of $104.49 and a 52 week high of $167.23. The firm’s 50-day simple moving average is $160.08 and its two-hundred day simple moving average is $145.86.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.52 EPS for the quarter, topping the consensus estimate of $1.49 by $0.03. The business had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.31 billion. Intercontinental Exchange had a net margin of 21.43% and a return on equity of 12.70%. The company’s revenue for the quarter was up 22.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.43 earnings per share. As a group, equities analysts forecast that Intercontinental Exchange, Inc. will post 6.08 earnings per share 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.