Wealth Enhancement Advisory Services LLC Raises Stock Position in Intercontinental Exchange Inc. $ICE

Wealth Enhancement Advisory Services LLC boosted its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 14.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 45,993 shares of the financial services provider’s stock after acquiring an additional 5,946 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Intercontinental Exchange were worth $7,450,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Optivise Advisory Services LLC increased its position in shares of Intercontinental Exchange by 3.1% during the second quarter. Optivise Advisory Services LLC now owns 1,794 shares of the financial services provider’s stock worth $329,000 after purchasing an additional 54 shares in the last quarter. ICONIQ Capital LLC boosted its position in shares of Intercontinental Exchange by 2.2% in the 2nd quarter. ICONIQ Capital LLC now owns 2,621 shares of the financial services provider’s stock worth $481,000 after purchasing an additional 56 shares in the last quarter. Tritonpoint Wealth LLC grew its stake in Intercontinental Exchange by 1.4% during the 2nd quarter. Tritonpoint Wealth LLC now owns 4,347 shares of the financial services provider’s stock worth $798,000 after buying an additional 58 shares during the last quarter. SBI Securities Co. Ltd. increased its position in Intercontinental Exchange by 5.0% during the 2nd quarter. SBI Securities Co. Ltd. now owns 1,207 shares of the financial services provider’s stock valued at $221,000 after buying an additional 58 shares in the last quarter. Finally, Institute for Wealth Management LLC. raised its stake in Intercontinental Exchange by 1.9% in the second quarter. Institute for Wealth Management LLC. now owns 3,255 shares of the financial services provider’s stock valued at $597,000 after buying an additional 60 shares during the last quarter. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on ICE shares. Raymond James Financial restated a “strong-buy” rating and set a $211.00 price target on shares of Intercontinental Exchange in a research note on Tuesday, January 6th. TD Cowen reiterated a “buy” rating on shares of Intercontinental Exchange in a research note on Wednesday, January 14th. Keefe, Bruyette & Woods upgraded shares of Intercontinental Exchange to a “moderate buy” rating in a research note on Monday, October 6th. Barclays set a $182.00 price target on shares of Intercontinental Exchange and gave the stock an “overweight” rating in a report on Thursday, January 8th. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $180.00 price objective on shares of Intercontinental Exchange in a report on Tuesday, January 6th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Intercontinental Exchange presently has an average rating of “Buy” and an average target price of $193.50.

Insider Activity

In related news, CFO Warren Gardiner sold 1,572 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $153.65, for a total transaction of $241,537.80. Following the completion of the transaction, the chief financial officer directly owned 20,534 shares in the company, valued at approximately $3,155,049.10. This trade represents a 7.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $153.08, for a total value of $22,962,000.00. Following the completion of the sale, the chief executive officer owned 1,801,705 shares in the company, valued at approximately $275,805,001.40. This represents a 7.69% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 166,068 shares of company stock valued at $25,470,702 over the last 90 days. Company insiders own 1.00% of the company’s stock.

Intercontinental Exchange Stock Down 0.8%

NYSE:ICE opened at $172.94 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01. The company’s fifty day moving average price is $161.89 and its 200-day moving average price is $167.14. Intercontinental Exchange Inc. has a 1-year low of $143.17 and a 1-year high of $189.35. The firm has a market capitalization of $98.61 billion, a P/E ratio of 31.50, a PEG ratio of 2.10 and a beta of 1.03.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, October 30th. The financial services provider reported $1.71 EPS for the quarter, meeting the consensus estimate of $1.71. The company had revenue of $3.01 billion for the quarter, compared to analyst estimates of $2.49 billion. Intercontinental Exchange had a net margin of 25.24% and a return on equity of 13.79%. The firm’s revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the company earned $1.55 earnings per share. As a group, equities research analysts anticipate that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Company Profile

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.