CW Advisors LLC Buys New Holdings in Intercontinental Exchange Inc. $ICE

Key Points

• CW Advisors LLC acquired 1,653 shares of Intercontinental Exchange Inc. (NYSE:ICE) valued at approximately $286,000, as reported in its latest 13F filing.
• Institutional ownership of Intercontinental Exchange stands at 89.30%, with notable increases from several investors in recent quarters.
• Intercontinental Exchange reported a quarterly revenue of $3.26 billion, significantly surpassing analyst estimates of $2.50 billion, alongside an EPS of $1.81, beating expectations by $0.04.

CW Advisors LLC purchased a new position in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 1,653 shares of the financial services provider's stock, valued at approximately $286,000.

Several other hedge funds also recently modified their holdings of the business. Fielder Capital Group LLC increased its stake in shares of Intercontinental Exchange by 2.2% during the 1st quarter. Fielder Capital Group LLC now owns 2,808 shares of the financial services provider's stock worth $484,000 after purchasing an additional 61 shares during the last quarter. E Fund Management Co. Ltd. increased its stake in shares of Intercontinental Exchange by 4.2% during the 1st quarter. E Fund Management Co. Ltd. now owns 1,500 shares of the financial services provider's stock worth $259,000 after purchasing an additional 61 shares during the last quarter. Berkeley Capital Partners LLC increased its stake in shares of Intercontinental Exchange by 1.1% during the 1st quarter. Berkeley Capital Partners LLC now owns 5,639 shares of the financial services provider's stock worth $973,000 after purchasing an additional 62 shares during the last quarter. GPS Wealth Strategies Group LLC increased its stake in shares of Intercontinental Exchange by 17.2% during the 1st quarter. GPS Wealth Strategies Group LLC now owns 430 shares of the financial services provider's stock worth $74,000 after purchasing an additional 63 shares during the last quarter. Finally, Values Added Financial LLC increased its stake in shares of Intercontinental Exchange by 4.4% during the 1st quarter. Values Added Financial LLC now owns 1,533 shares of the financial services provider's stock worth $264,000 after purchasing an additional 64 shares during the last quarter. Institutional investors and hedge funds own 89.30% of the company's stock.

Intercontinental Exchange Stock Performance

Shares of Intercontinental Exchange stock traded down $0.17 during midday trading on Wednesday, hitting $174.92. The company had a trading volume of 1,902,977 shares, compared to its average volume of 2,726,441. The business's 50 day simple moving average is $181.77 and its two-hundred day simple moving average is $174.66. The stock has a market cap of $100.13 billion, a PE ratio of 33.57, a P/E/G ratio of 2.11 and a beta of 1.10. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01. Intercontinental Exchange Inc. has a 1-year low of $142.29 and a 1-year high of $189.35.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The financial services provider reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.04. The business had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $2.50 billion. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. Intercontinental Exchange's quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the company posted $1.52 earnings per share. As a group, equities analysts predict that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. UBS Group increased their price target on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Piper Sandler boosted their price objective on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 15th. Finally, Barclays boosted their price objective on shares of Intercontinental Exchange from $206.00 to $212.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Ten research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $194.92.

Insiders Place Their Bets

In other news, Director Martha A. Tirinnanzi sold 610 shares of the firm's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $179.76, for a total value of $109,653.60. Following the sale, the director owned 3,519 shares in the company, valued at approximately $632,575.44. This trade represents a 14.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 3,850 shares of the firm's stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $178.33, for a total transaction of $686,570.50. Following the completion of the sale, the general counsel owned 46,293 shares in the company, valued at approximately $8,255,430.69. The trade was a 7.68% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 231,678 shares of company stock valued at $42,358,043 in the last 90 days. 1.00% of the stock is currently owned by corporate insiders.

About Intercontinental Exchange

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.