Wealth Enhancement Advisory Services LLC Boosts Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Wealth Enhancement Advisory Services LLC raised its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 49.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 34,785 shares of the financial services provider’s stock after acquiring an additional 11,498 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Intercontinental Exchange were worth $5,588,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of ICE. Wolff Wiese Magana LLC grew its stake in Intercontinental Exchange by 1,470.0% during the 3rd quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock worth $25,000 after buying an additional 147 shares during the last quarter. Northwest Investment Counselors LLC purchased a new stake in shares of Intercontinental Exchange during the third quarter worth about $26,000. Fairscale Capital LLC acquired a new position in shares of Intercontinental Exchange during the second quarter valued at about $25,000. New Millennium Group LLC purchased a new position in shares of Intercontinental Exchange in the 2nd quarter valued at approximately $25,000. Finally, International Assets Investment Management LLC acquired a new stake in Intercontinental Exchange in the 2nd quarter worth approximately $25,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Intercontinental Exchange news, Director Martha A. Tirinnanzi sold 509 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $158.98, for a total transaction of $80,920.82. Following the completion of the transaction, the director now directly owns 3,958 shares in the company, valued at approximately $629,242.84. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Martha A. Tirinnanzi sold 509 shares of Intercontinental Exchange stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $158.98, for a total value of $80,920.82. Following the sale, the director now directly owns 3,958 shares in the company, valued at approximately $629,242.84. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Warren Gardiner sold 750 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $161.43, for a total value of $121,072.50. Following the transaction, the chief financial officer now directly owns 16,576 shares of the company’s stock, valued at $2,675,863.68. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,489 shares of company stock worth $1,202,259 in the last quarter. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Piper Sandler upped their price target on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft raised their target price on Intercontinental Exchange from $152.00 to $154.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. Citigroup boosted their price target on Intercontinental Exchange from $160.00 to $162.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 price objective on shares of Intercontinental Exchange in a report on Friday, October 4th. Finally, JPMorgan Chase & Co. upped their target price on Intercontinental Exchange from $171.00 to $188.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. 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. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $173.93.

Intercontinental Exchange Trading Down 0.1 %

ICE stock opened at $166.53 on Thursday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.69. Intercontinental Exchange, Inc. has a 52-week low of $104.91 and a 52-week high of $167.99. The company’s 50-day simple moving average is $162.14 and its 200-day simple moving average is $147.98. The firm has a market cap of $95.61 billion, a P/E ratio of 41.22, a PEG ratio of 2.50 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.52 EPS 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 quarterly revenue was up 22.7% compared to the same quarter last year. During the same period last year, the company earned $1.43 earnings per share. As a group, equities analysts forecast that Intercontinental Exchange, Inc. will post 6.12 EPS for the current fiscal 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.