Gibbs Wealth Management Acquires Shares of 3,556 Intercontinental Exchange Inc. $ICE

Gibbs Wealth Management acquired a new stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,556 shares of the financial services provider’s stock, valued at approximately $559,000.

Several other hedge funds also recently made changes to their positions in the company. ICONIQ Capital LLC increased its position in shares of Intercontinental Exchange by 2.2% in the second quarter. ICONIQ Capital LLC now owns 2,621 shares of the financial services provider’s stock valued at $481,000 after acquiring an additional 56 shares during the period. Mechanics Financial Corp boosted its holdings in shares of Intercontinental Exchange by 1.0% during the fourth quarter. Mechanics Financial Corp now owns 6,138 shares of the financial services provider’s stock worth $994,000 after purchasing an additional 60 shares during the period. Mission Wealth Management LP grew its stake in shares of Intercontinental Exchange by 2.4% in the fourth quarter. Mission Wealth Management LP now owns 2,611 shares of the financial services provider’s stock worth $423,000 after purchasing an additional 62 shares during the last quarter. Aaron Wealth Advisors LLC grew its stake in shares of Intercontinental Exchange by 1.9% in the fourth quarter. Aaron Wealth Advisors LLC now owns 3,384 shares of the financial services provider’s stock worth $548,000 after purchasing an additional 63 shares during the last quarter. Finally, Evergreen Capital Management LLC increased its holdings in Intercontinental Exchange by 1.5% during the 4th quarter. Evergreen Capital Management LLC now owns 4,207 shares of the financial services provider’s stock valued at $681,000 after purchasing an additional 63 shares during the period. 89.30% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, Director Sharon Bowen sold 667 shares of Intercontinental Exchange stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $151.28, for a total value of $100,903.76. Following the completion of the sale, the director owned 15,077 shares of the company’s stock, valued at approximately $2,280,848.56. This trade represents a 4.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Andrew J. Surdykowski sold 4,573 shares of the business’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $151.56, for a total value of $693,083.88. Following the completion of the transaction, the general counsel owned 45,473 shares of the company’s stock, valued at $6,891,887.88. This represents a 9.14% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 13,425 shares of company stock worth $2,046,324. Insiders own 0.84% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on ICE. Morgan Stanley dropped their price objective on Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating for the company in a report on Friday, July 10th. The Goldman Sachs Group reduced their target price on Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. Weiss Ratings lowered Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, June 17th. UBS Group cut their price target on shares of Intercontinental Exchange from $205.00 to $190.00 and set a “buy” rating on the stock in a report on Tuesday, July 7th. Finally, Piper Sandler decreased their price objective on shares of Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating for the company in a report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $181.58.

Intercontinental Exchange Price Performance

Shares of ICE opened at $145.93 on Friday. The firm’s 50-day simple moving average is $139.50 and its two-hundred day simple moving average is $154.08. The stock has a market cap of $82.53 billion, a PE ratio of 21.24, a price-to-earnings-growth ratio of 1.51 and a beta of 0.94. Intercontinental Exchange Inc. has a fifty-two week low of $121.79 and a fifty-two week high of $189.35. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.23 by $0.12. The firm had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $2.88 billion. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The business’s revenue was up 20.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.72 earnings per share. Analysts anticipate that Intercontinental Exchange Inc. will post 8.01 earnings per share for the current fiscal year.

About Intercontinental Exchange

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.