Geneos Wealth Management Inc. Has $5.39 Million Stock Holdings in Intercontinental Exchange Inc. $ICE

Key Points

• Geneos Wealth Management Inc. increased its holdings in Intercontinental Exchange Inc. by 15.4% during the first quarter, acquiring an additional 4,179 shares to reach a total of 31,228 shares worth approximately $5.39 million.
• Institutional investors own 89.30% of Intercontinental Exchange stock, with other notable increases in holdings by firms like Belpointe Asset Management and UBS Asset Management.
• Analyst upgrades have positively impacted Intercontinental Exchange's stock ratings, with price objectives raised by firms such as Piper Sandler and Barclays, reflecting a consensus rating of "Moderate Buy" with an average target price of $194.92.

Geneos Wealth Management Inc. grew its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 15.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 31,228 shares of the financial services provider's stock after acquiring an additional 4,179 shares during the period. Geneos Wealth Management Inc.'s holdings in Intercontinental Exchange were worth $5,387,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. REAP Financial Group LLC increased its stake in shares of Intercontinental Exchange by 116.7% during the 4th quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider's stock worth $25,000 after purchasing an additional 91 shares in the last quarter. Tsfg LLC grew its stake 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 acquiring an additional 103 shares during the period. Menard Financial Group LLC purchased a new stake in shares of Intercontinental Exchange during the 4th quarter valued at $29,000. Rakuten Securities Inc. grew its stake in shares of Intercontinental Exchange by 595.8% during the 1st quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider's stock valued at $29,000 after buying an additional 143 shares during the period. Finally, Activest Wealth Management grew its stake in shares of Intercontinental Exchange by 4,050.0% during the 1st quarter. Activest Wealth Management now owns 166 shares of the financial services provider's stock valued at $29,000 after buying an additional 162 shares during the period. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Intercontinental Exchange

In other news, General Counsel Andrew J. Surdykowski sold 3,850 shares of the company's stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $178.33, for a total value of $686,570.50. Following the completion of the sale, the general counsel directly owned 46,293 shares of the company's stock, valued at approximately $8,255,430.69. This represents a 7.68% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the company's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $183.09, for a total transaction of $27,463,500.00. Following the completion of the sale, the chief executive officer directly owned 1,951,705 shares of the company's stock, valued at approximately $357,337,668.45. This represents a 7.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 230,730 shares of company stock worth $42,171,892 in the last quarter. 1.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. UBS Group lifted their target price on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Barclays boosted their target price on shares of Intercontinental Exchange from $206.00 to $212.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. 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 report on Tuesday, July 15th. Ten equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Intercontinental Exchange currently has an average rating of "Moderate Buy" and an average target price of $194.92.

Intercontinental Exchange Stock Performance

Shares of NYSE:ICE traded down $2.16 during trading on Friday, reaching $174.02. 2,300,528 shares of the company's stock traded hands, compared to its average volume of 2,489,475. 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 12 month low of $142.29 and a 12 month high of $189.35. The company has a 50 day moving average of $180.62 and a 200-day moving average of $174.99. The stock has a market capitalization of $99.61 billion, a P/E ratio of 33.40, a price-to-earnings-growth ratio of 2.10 and a beta of 1.10.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last posted its earnings results on Thursday, July 31st. The financial services provider reported $1.81 EPS for the quarter, topping the consensus estimate of $1.77 by $0.04. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The firm had revenue of $3.26 billion during the quarter, compared to analysts' expectations of $2.50 billion. During the same quarter in the prior year, the firm earned $1.52 EPS. Intercontinental Exchange's quarterly revenue was up 9.8% on a year-over-year basis. On average, equities analysts expect that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

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.