Good Life Advisors LLC Makes New Investment in Intercontinental Exchange, Inc. (NYSE:ICE)

Good Life Advisors LLC bought a new stake in Intercontinental Exchange, Inc. (NYSE:ICE) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,884 shares of the financial services provider’s stock, valued at approximately $303,000.

A number of other hedge funds have also recently modified their holdings of ICE. Quad Cities Investment Group LLC acquired a new position in Intercontinental Exchange in the third quarter valued at $229,000. Walter Public Investments Inc. boosted its position in shares of Intercontinental Exchange by 3.0% in the 3rd quarter. Walter Public Investments Inc. now owns 116,336 shares of the financial services provider’s stock valued at $18,688,000 after purchasing an additional 3,422 shares during the period. B.O.S.S. Retirement Advisors LLC grew its stake in Intercontinental Exchange by 13.1% during the 3rd quarter. B.O.S.S. Retirement Advisors LLC now owns 38,181 shares of the financial services provider’s stock worth $6,133,000 after buying an additional 4,420 shares during the last quarter. Heritage Family Offices LLP increased its position in Intercontinental Exchange by 21.3% during the third quarter. Heritage Family Offices LLP now owns 11,466 shares of the financial services provider’s stock worth $1,842,000 after buying an additional 2,014 shares during the period. Finally, Wolff Wiese Magana LLC lifted its stake in 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 buying an additional 147 shares during the last quarter. 89.30% of the stock is owned by hedge funds and other institutional investors.

Intercontinental Exchange Stock Performance

ICE opened at $166.83 on Friday. Intercontinental Exchange, Inc. has a 1-year low of $104.49 and a 1-year high of $167.23. The stock has a market cap of $95.69 billion, a P/E ratio of 38.26, a P/E/G ratio of 2.62 and a beta of 1.08. The stock’s 50 day simple moving average is $160.55 and its 200 day simple moving average is $146.26. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.99.

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

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Piper Sandler raised their target price 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. Barclays lifted their price objective on shares of Intercontinental Exchange from $167.00 to $179.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. JPMorgan Chase & Co. increased their target price on shares of Intercontinental Exchange from $151.00 to $171.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Bank of America raised their price target on Intercontinental Exchange from $168.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Finally, TD Cowen initiated coverage on Intercontinental Exchange in a research note on Thursday, September 26th. They set a “buy” rating and a $182.00 price objective for the company. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $172.80.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, COO Stuart Glen Williams sold 468 shares of the company’s stock in a transaction dated 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. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Christopher Scott Edmonds sold 602 shares of Intercontinental Exchange stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $162.81, for a total transaction of $98,011.62. Following the completion of the sale, the insider now owns 14,034 shares in the company, valued at approximately $2,284,875.54. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Stuart Glen Williams sold 468 shares of the company’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total transaction of $76,195.08. Following the completion of the transaction, the chief operating officer now owns 13,530 shares in the company, valued at approximately $2,202,819.30. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,532 shares of company stock valued at $1,358,709. Insiders own 1.10% of the company’s stock.

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.