Ticino Wealth Buys 6,749 Shares of Intercontinental Exchange Inc. $ICE

Ticino Wealth raised its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 300.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,998 shares of the financial services provider’s stock after purchasing an additional 6,749 shares during the period. Ticino Wealth’s holdings in Intercontinental Exchange were worth $1,108,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Brighton Jones LLC grew its stake in Intercontinental Exchange by 51.3% in the 4th quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider’s stock valued at $514,000 after buying an additional 1,169 shares during the last quarter. Empowered Funds LLC raised its holdings in Intercontinental Exchange by 9.0% in the 1st quarter. Empowered Funds LLC now owns 14,396 shares of the financial services provider’s stock worth $2,483,000 after acquiring an additional 1,189 shares during the period. Sivia Capital Partners LLC lifted its position in Intercontinental Exchange by 16.2% during the 2nd quarter. Sivia Capital Partners LLC now owns 2,078 shares of the financial services provider’s stock worth $381,000 after acquiring an additional 289 shares during the last quarter. NewEdge Advisors LLC lifted its position in Intercontinental Exchange by 27.9% during the 2nd quarter. NewEdge Advisors LLC now owns 21,213 shares of the financial services provider’s stock worth $3,892,000 after acquiring an additional 4,628 shares during the last quarter. Finally, Treasurer of the State of North Carolina boosted its holdings in Intercontinental Exchange by 2.4% during the second quarter. Treasurer of the State of North Carolina now owns 266,496 shares of the financial services provider’s stock valued at $48,894,000 after acquiring an additional 6,373 shares during the period. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, General Counsel Andrew J. Surdykowski sold 4,573 shares of Intercontinental Exchange stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $151.56, for a total transaction of $693,083.88. Following the sale, the general counsel owned 45,473 shares of the company’s stock, valued at approximately $6,891,887.88. This trade represents a 9.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Douglas Foley sold 7,300 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $148.88, for a total value of $1,086,824.00. Following the sale, the senior vice president owned 19,063 shares in the company, valued at approximately $2,838,099.44. This represents a 27.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 16,454 shares of company stock valued at $2,469,349. Corporate insiders own 0.84% of the company’s stock.

Intercontinental Exchange Stock Performance

NYSE ICE opened at $151.33 on Thursday. The company’s fifty day moving average is $140.05 and its two-hundred day moving average is $152.37. Intercontinental Exchange Inc. has a 52-week low of $121.79 and a 52-week high of $183.65. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market capitalization of $84.96 billion, a price-to-earnings ratio of 21.37, a P/E/G ratio of 1.49 and a beta of 0.92.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.90 EPS for the quarter, beating analysts’ consensus estimates of $1.84 by $0.06. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The business had revenue of $3.61 billion during the quarter, compared to analyst estimates of $2.63 billion. During the same quarter in the prior year, the business earned $1.81 earnings per share. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. Equities research analysts forecast that Intercontinental Exchange Inc. will post 8.08 EPS for the current year.

Wall Street Analyst Weigh In

ICE has been the topic of several research analyst reports. Weiss Ratings downgraded Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday. Morgan Stanley cut their price objective on Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating for the company in a research report on Friday, July 10th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $178.00 target price on shares of Intercontinental Exchange in a research note on Friday, July 31st. Raymond James Financial set a $208.00 target price on Intercontinental Exchange in a report on Monday, July 6th. Finally, Rothschild & Co Redburn set a $177.00 price target on Intercontinental Exchange in a research report on Thursday, June 11th. One investment 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 company’s stock. Based on data from MarketBeat.com, Intercontinental Exchange has an average rating of “Moderate Buy” and a consensus target price of $183.33.

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.