Intercontinental Exchange Inc. $ICE Holdings Lifted by Wealth Enhancement Advisory Services LLC

Key Points

• Wealth Enhancement Advisory Services LLC increased its stake in Intercontinental Exchange by 13.9% in the second quarter, bringing their total holdings to 40,047 shares valued at approximately $7.33 million.
• Several analysts have raised their price targets for Intercontinental Exchange, with UBS Group setting it at $210.00 and Barclays at $212.00, both maintaining "buy" or "overweight" ratings.
• Intercontinental Exchange reported a quarterly earnings per share (EPS) of $1.81, exceeding expectations, and recorded a revenue of $3.26 billion, up 9.8% year-over-year.

Wealth Enhancement Advisory Services LLC grew its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 13.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 40,047 shares of the financial services provider's stock after purchasing an additional 4,878 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Intercontinental Exchange were worth $7,333,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Tsfg LLC lifted its holdings in shares of Intercontinental Exchange by 187.3% during 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 during the last quarter. Activest Wealth Management lifted its holdings in shares of Intercontinental Exchange by 4,050.0% during 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 during the last quarter. Rakuten Securities Inc. lifted its holdings in shares of Intercontinental Exchange by 595.8% during the first quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 143 shares during the last quarter. REAP Financial Group LLC lifted its holdings in shares of Intercontinental Exchange by 116.7% during the fourth quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 91 shares during the last quarter. Finally, McClarren Financial Advisors Inc. purchased a new stake in shares of Intercontinental Exchange during the first quarter valued at $30,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on ICE shares. UBS Group increased their price objective on 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 increased their price objective on 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 increased their price objective on 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 company. Based on data from MarketBeat.com, Intercontinental Exchange presently has a consensus rating of "Moderate Buy" and an average target price of $194.92.

Intercontinental Exchange Stock Performance

Shares of NYSE ICE opened at $168.01 on Wednesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market cap of $96.17 billion, a price-to-earnings ratio of 32.25, a P/E/G ratio of 2.03 and a beta of 1.10. The business's 50-day simple moving average is $179.12 and its 200-day simple moving average is $174.96. Intercontinental Exchange Inc. has a 52 week low of $142.29 and a 52 week high of $189.35.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The financial services provider reported $1.81 EPS for the quarter, beating analysts' consensus estimates 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 return on equity of 13.66% and a net margin of 23.92%.The firm's revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.52 EPS. As a group, equities research analysts expect that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Insider Buying and Selling at Intercontinental Exchange

In other news, SVP Douglas Foley sold 1,600 shares of the stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $175.62, for a total transaction of $280,992.00. Following the transaction, the senior vice president owned 25,796 shares of the company's stock, valued at approximately $4,530,293.52. This represents a 5.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Andrew J. Surdykowski sold 3,850 shares of the stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $178.33, for a total value of $686,570.50. Following the transaction, the general counsel directly owned 46,293 shares in the company, valued at approximately $8,255,430.69. This represents a 7.68% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 231,669 shares of company stock worth $42,333,438 in the last 90 days. Company insiders own 1.00% of the company's stock.

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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