Demars Financial Group LLC Has $602,000 Position in Intercontinental Exchange Inc. $ICE

Demars Financial Group LLC lowered its stake in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 99.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,281 shares of the financial services provider's stock after selling 512,596 shares during the period. Demars Financial Group LLC's holdings in Intercontinental Exchange were worth $602,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Princeton Global Asset Management LLC acquired a new stake in shares of Intercontinental Exchange in the second quarter valued at approximately $28,000. Tsfg LLC increased its holdings in shares of Intercontinental Exchange by 187.3% in the first quarter. Tsfg LLC now owns 158 shares of the financial services provider's stock valued at $27,000 after purchasing an additional 103 shares in the last quarter. Activest Wealth Management increased its holdings in shares of Intercontinental Exchange by 4,050.0% in the first quarter. Activest Wealth Management now owns 166 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 162 shares in the last quarter. Hilltop National Bank acquired a new stake in shares of Intercontinental Exchange in the second quarter valued at approximately $31,000. Finally, McClarren Financial Advisors Inc. acquired a new stake in shares of Intercontinental Exchange in the first quarter valued at approximately $30,000. Institutional investors and hedge funds own 89.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Morgan Stanley lowered their price target on shares of Intercontinental Exchange from $192.00 to $188.00 and set an "equal weight" rating for the company in a report on Wednesday, October 1st. Raymond James Financial raised shares of Intercontinental Exchange from an "outperform" rating to a "strong-buy" rating and set a $210.00 price objective on the stock in a research note on Monday, October 13th. Piper Sandler raised their price objective on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the company an "overweight" rating in a research note on Tuesday, July 15th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Intercontinental Exchange in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Intercontinental Exchange from $195.00 to $203.00 and gave the company an "overweight" rating in a research note on Thursday, September 25th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $199.60.

Insider Activity at Intercontinental Exchange

In other news, General Counsel Andrew J. Surdykowski sold 3,850 shares of Intercontinental Exchange stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $178.33, for a total transaction of $686,570.50. Following the transaction, the general counsel directly owned 46,293 shares of the company's stock, valued at $8,255,430.69. This trade represents a 7.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Duriya M. Farooqui sold 2,036 shares of Intercontinental Exchange stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $178.34, for a total transaction of $363,100.24. Following the transaction, the director directly owned 14,299 shares in the company, valued at approximately $2,550,083.66. This represents a 12.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 240,956 shares of company stock valued at $43,789,542. 1.00% of the stock is owned by corporate insiders.

Intercontinental Exchange Trading Up 0.1%

Shares of NYSE ICE opened at $153.52 on Monday. The company's fifty day moving average is $170.86 and its 200-day moving average is $173.58. The stock has a market cap of $87.88 billion, a price-to-earnings ratio of 29.47, a P/E/G ratio of 2.14 and a beta of 1.08. Intercontinental Exchange Inc. has a twelve month low of $142.29 and a twelve month 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 announced its quarterly earnings results on Thursday, July 31st. The financial services provider reported $1.81 earnings per share 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 business's quarterly revenue was up 9.8% compared to the same quarter last year. During the same period last year, the firm posted $1.52 earnings per share. Equities research analysts predict that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Company 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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