GC Wealth Management RIA LLC Buys Shares of 19,441 Intercontinental Exchange Inc. $ICE

Key Points

• GC Wealth Management RIA LLC acquired 19,441 shares of Intercontinental Exchange Inc. (NYSE: ICE) during the second quarter, valued at approximately $3,567,000.
• Several hedge funds have significantly increased their stakes in Intercontinental Exchange, with Brighton Jones LLC boosting its stake by 51.3% in the 4th quarter.
• Intercontinental Exchange reported earnings of $1.81 EPS for the last quarter, exceeding analysts' expectations, and showed a year-over-year revenue increase of 9.8%.

GC Wealth Management RIA LLC acquired a new stake in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 19,441 shares of the financial services provider's stock, valued at approximately $3,567,000.

Other hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC increased its stake in shares of 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 purchasing an additional 1,169 shares during the last quarter. Versant Capital Management Inc grew its position in Intercontinental Exchange by 27.5% in the first quarter. Versant Capital Management Inc now owns 760 shares of the financial services provider's stock valued at $131,000 after acquiring an additional 164 shares during the last quarter. Parallel Advisors LLC grew its position in Intercontinental Exchange by 7.5% in the first quarter. Parallel Advisors LLC now owns 6,956 shares of the financial services provider's stock valued at $1,200,000 after acquiring an additional 484 shares during the last quarter. Cascade Investment Advisors Inc. grew its position in Intercontinental Exchange by 0.6% in the first quarter. Cascade Investment Advisors Inc. now owns 13,751 shares of the financial services provider's stock valued at $2,372,000 after acquiring an additional 79 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC grew its position in Intercontinental Exchange by 4.3% in the first quarter. Fifth Third Wealth Advisors LLC now owns 8,659 shares of the financial services provider's stock valued at $1,494,000 after acquiring an additional 356 shares during the last quarter. 89.30% of the stock is owned by institutional investors.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, Director Judith A. Sprieser sold 2,900 shares of the stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $174.51, for a total value of $506,079.00. Following the transaction, the director owned 18,169 shares in the company, valued at approximately $3,170,672.19. This represents a 13.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Douglas Foley sold 1,600 shares of the stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $175.62, for a total value of $280,992.00. Following the completion of the transaction, the senior vice president owned 25,796 shares in the company, valued at approximately $4,530,293.52. The trade was a 5.84% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 231,669 shares of company stock worth $42,333,438. 1.00% of the stock is currently owned by insiders.

Intercontinental Exchange Price Performance

Intercontinental Exchange stock opened at $167.69 on Monday. The stock has a market capitalization of $95.99 billion, a price-to-earnings ratio of 32.19, a PEG ratio of 2.00 and a beta of 1.10. Intercontinental Exchange Inc. has a 52-week low of $142.29 and a 52-week high of $189.35. The stock's 50 day moving average price is $178.30 and its two-hundred day moving average price is $174.98. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.01.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued its earnings results 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 analyst estimates of $2.50 billion. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. Intercontinental Exchange's revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.52 earnings per share. On average, equities analysts predict that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of Intercontinental Exchange from $195.00 to $203.00 and gave the company an "overweight" rating in a report on Thursday. Barclays lifted 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. UBS Group boosted their target price 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. Finally, Piper Sandler boosted their target price 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. Nine analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $197.36.

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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