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

Wealth Enhancement Advisory Services LLC raised its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 1.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 35,151 shares of the financial services provider’s stock after purchasing an additional 366 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Intercontinental Exchange were worth $5,647,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in ICE. Park National Corp OH boosted its holdings in shares of Intercontinental Exchange by 2.6% in the fourth quarter. Park National Corp OH now owns 189,564 shares of the financial services provider’s stock valued at $28,247,000 after acquiring an additional 4,862 shares during the period. Diversified Trust Co boosted its holdings in shares of Intercontinental Exchange by 55.3% in the fourth quarter. Diversified Trust Co now owns 9,247 shares of the financial services provider’s stock valued at $1,378,000 after acquiring an additional 3,294 shares during the period. Iowa State Bank boosted its holdings in shares of Intercontinental Exchange by 0.9% in the fourth quarter. Iowa State Bank now owns 30,194 shares of the financial services provider’s stock valued at $4,499,000 after acquiring an additional 267 shares during the period. CWA Asset Management Group LLC boosted its holdings in shares of Intercontinental Exchange by 1.5% in the fourth quarter. CWA Asset Management Group LLC now owns 5,431 shares of the financial services provider’s stock valued at $809,000 after acquiring an additional 82 shares during the period. Finally, Nordea Investment Management AB boosted its holdings in shares of Intercontinental Exchange by 8.4% in the fourth quarter. Nordea Investment Management AB now owns 63,369 shares of the financial services provider’s stock valued at $9,449,000 after acquiring an additional 4,893 shares during the period. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other 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 transaction, the general counsel now owns 44,702 shares in the company, 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 filing with the SEC, which is available through the SEC website. Also, President Benjamin Jackson sold 5,828 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $160.00, for a total value of $932,480.00. Following the completion of the transaction, the president now owns 156,163 shares of the company’s stock, valued at approximately $24,986,080. This represents a 3.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,533 shares of company stock worth $1,196,279 over the last 90 days. 1.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on ICE. JPMorgan Chase & Co. increased their price objective on Intercontinental Exchange from $171.00 to $188.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Bank of America increased their price objective on Intercontinental Exchange from $168.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Raymond James downgraded Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 price objective for the company. in a report on Monday, October 14th. Piper Sandler increased their price target on Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Intercontinental Exchange from $160.00 to $163.00 and gave the stock a “hold” rating in a report on Monday, November 11th. One analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $175.20.

Intercontinental Exchange Price Performance

Intercontinental Exchange stock opened at $143.84 on Tuesday. Intercontinental Exchange, Inc. has a one year low of $124.34 and a one year 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 fifty day moving average of $153.88 and a two-hundred day moving average of $155.47. The company has a market cap of $82.59 billion, a P/E ratio of 34.09, a price-to-earnings-growth ratio of 2.57 and a beta of 1.10.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, October 31st. The financial services provider reported $1.55 EPS for the quarter, meeting analysts’ consensus estimates of $1.55. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The company had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter last year, the company earned $1.46 earnings per share. Intercontinental Exchange’s quarterly revenue was up 17.3% compared to the same quarter last year. As a group, analysts predict that Intercontinental Exchange, Inc. will post 6.07 earnings per share for the current fiscal year.

Intercontinental Exchange Company Profile

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.