AlphaCore Capital LLC Acquires New Stake in Intercontinental Exchange Inc. (NYSE:ICE)

Key Points

• AlphaCore Capital LLC has acquired a new stake in Intercontinental Exchange Inc. during the first quarter, purchasing 2,465 shares valued at around $425,000.
• Insider transactions indicate reduced holdings, with SVP Douglas Foley selling 1,600 shares and CAO James W. Namkung selling 612 shares in recent months.
• Analysts are optimistic about Intercontinental Exchange's future, with several raising their price targets and the stock currently holding a consensus rating of "Moderate Buy."

AlphaCore Capital LLC acquired a new stake in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 2,465 shares of the financial services provider's stock, valued at approximately $425,000.

Several other institutional investors have also bought and sold shares of the company. REAP Financial Group LLC boosted its holdings in Intercontinental Exchange by 116.7% in the 4th quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider's stock worth $25,000 after buying an additional 91 shares during the period. Tsfg LLC boosted its holdings in Intercontinental Exchange by 187.3% in the 1st quarter. Tsfg LLC now owns 158 shares of the financial services provider's stock worth $27,000 after buying an additional 103 shares during the period. Menard Financial Group LLC bought a new position in Intercontinental Exchange in the 4th quarter worth approximately $29,000. Rakuten Securities Inc. boosted its holdings in Intercontinental Exchange by 595.8% in the 1st quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider's stock worth $29,000 after buying an additional 143 shares during the period. Finally, McClarren Financial Advisors Inc. bought a new position in Intercontinental Exchange in the 1st quarter worth approximately $30,000. Hedge funds and other institutional investors own 89.30% of the company's stock.

Insider Buying and Selling

In related news, SVP Douglas Foley sold 1,600 shares of Intercontinental Exchange stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $177.48, for a total value of $283,968.00. Following the transaction, the senior vice president owned 27,313 shares in the company, valued at $4,847,511.24. This trade represents a 5.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO James W. Namkung sold 612 shares of the business's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $180.00, for a total transaction of $110,160.00. Following the completion of the transaction, the chief accounting officer owned 13,220 shares in the company, valued at $2,379,600. The trade was a 4.42% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 226,913 shares of company stock worth $40,671,107 over the last 90 days. Insiders own 1.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. UBS Group raised their price objective on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Barclays raised their price target on shares of Intercontinental Exchange from $206.00 to $212.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Morgan Stanley raised their price target on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the company an "equal weight" rating in a report on Monday, May 5th. Keefe, Bruyette & Woods raised their price target on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Finally, Piper Sandler raised their price target on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat, Intercontinental Exchange has an average rating of "Moderate Buy" and a consensus target price of $194.92.

Intercontinental Exchange Price Performance

Shares of NYSE:ICE opened at $186.53 on Friday. The stock has a market cap of $106.77 billion, a PE ratio of 35.80, a PEG ratio of 2.21 and a beta of 1.11. The company's fifty day moving average is $181.66 and its 200 day moving average is $172.65. Intercontinental Exchange Inc. has a 52 week low of $142.29 and a 52 week high of $189.35. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.61.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued its earnings results on Thursday, July 31st. The financial services provider reported $1.81 EPS for the quarter, topping analysts' consensus estimates of $1.77 by $0.04. The company had revenue of $3.26 billion for the quarter, compared to analysts' expectations of $2.50 billion. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The firm's revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.52 EPS. Research analysts anticipate that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 1.0%. Intercontinental Exchange's payout ratio is presently 36.85%.

Intercontinental Exchange 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.

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