J.W. Cole Advisors Inc. Grows Position in Intercontinental Exchange Inc. $ICE

J.W. Cole Advisors Inc. grew its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 183.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,963 shares of the financial services provider’s stock after acquiring an additional 5,155 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in Intercontinental Exchange were worth $1,290,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Intercontinental Exchange by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 54,153,170 shares of the financial services provider’s stock valued at $8,770,647,000 after purchasing an additional 413,639 shares in the last quarter. State Street Corp grew its stake in Intercontinental Exchange by 0.8% in the 3rd quarter. State Street Corp now owns 24,816,744 shares of the financial services provider’s stock worth $4,181,125,000 after buying an additional 194,325 shares in the last quarter. Wellington Management Group LLP grew its stake in Intercontinental Exchange by 64.7% in the 3rd quarter. Wellington Management Group LLP now owns 10,354,224 shares of the financial services provider’s stock worth $1,744,480,000 after buying an additional 4,067,922 shares in the last quarter. Norges Bank bought a new position in shares of Intercontinental Exchange in the 4th quarter worth $1,418,228,000. Finally, Capital World Investors raised its position in shares of Intercontinental Exchange by 15.2% during the 3rd quarter. Capital World Investors now owns 7,028,964 shares of the financial services provider’s stock valued at $1,184,238,000 after buying an additional 928,047 shares in the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on ICE. Weiss Ratings lowered shares of Intercontinental Exchange from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, June 2nd. Deutsche Bank Aktiengesellschaft raised Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 price target for the company in a research note on Friday, March 6th. Keefe, Bruyette & Woods initiated coverage on Intercontinental Exchange in a research report on Wednesday, April 8th. They set an “outperform” rating and a $190.00 price objective on the stock. Piper Sandler reissued an “overweight” rating and set a $211.00 price target (up from $195.00) on shares of Intercontinental Exchange in a research note on Wednesday, April 15th. Finally, Morgan Stanley boosted their price target on shares of Intercontinental Exchange from $183.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Friday, April 10th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Intercontinental Exchange presently has a consensus rating of “Moderate Buy” and an average price target of $194.60.

Insiders Place Their Bets

In related news, Director Sharon Bowen sold 667 shares of the business’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $151.28, for a total transaction of $100,903.76. Following the transaction, the director owned 15,077 shares in the company, valued at $2,280,848.56. The trade was a 4.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Andrew J. Surdykowski sold 4,573 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $151.56, for a total value of $693,083.88. Following the transaction, the general counsel directly owned 45,473 shares of the company’s stock, valued at $6,891,887.88. The trade was a 9.14% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 12,001 shares of company stock valued at $1,847,820 over the last three months. Company insiders own 0.84% of the company’s stock.

Intercontinental Exchange Trading Up 1.7%

NYSE:ICE opened at $141.48 on Wednesday. The firm has a market capitalization of $80.01 billion, a P/E ratio of 20.59, a P/E/G ratio of 1.33 and a beta of 0.92. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63. The company has a fifty day moving average of $155.27 and a 200 day moving average of $159.60. Intercontinental Exchange Inc. has a 52 week low of $136.67 and a 52 week high of $189.35.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.23 by $0.12. The business had revenue of $3.67 billion for the quarter, compared to analyst estimates of $2.88 billion. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The company’s revenue was up 20.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.72 EPS. On average, research analysts predict that Intercontinental Exchange Inc. will post 8.16 earnings per share for the current year.

Intercontinental Exchange 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.