Intercontinental Exchange Inc. $ICE Shares Purchased by Dakota Wealth Management

Key Points

• Dakota Wealth Management significantly increased its stake in Intercontinental Exchange by 117% in Q2, now owning 40,032 shares valued at approximately $7.35 million.
• Intercontinental Exchange's latest earnings report showed a 9.8% revenue increase year-over-year, with earnings per share of $1.81, surpassing analyst estimates.
• Institutional investors and hedge funds collectively own 89.30% of Intercontinental Exchange's stock, highlighting strong institutional interest in the company.

Dakota Wealth Management lifted its position in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 117.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 40,032 shares of the financial services provider's stock after buying an additional 21,580 shares during the quarter. Dakota Wealth Management's holdings in Intercontinental Exchange were worth $7,345,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Tsfg LLC boosted its stake 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 acquiring an additional 103 shares during the last quarter. Menard Financial Group LLC purchased a new stake in Intercontinental Exchange in the fourth quarter valued at approximately $29,000. Rakuten Securities Inc. grew its holdings in Intercontinental Exchange by 595.8% in 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 period. Activest Wealth Management grew its holdings in 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 during the period. Finally, McClarren Financial Advisors Inc. purchased a new stake in Intercontinental Exchange in the first quarter valued at approximately $30,000. Institutional investors and hedge funds own 89.30% of the company's stock.

Intercontinental Exchange Stock Performance

ICE opened at $167.94 on Thursday. The business's 50 day moving average is $178.86 and its 200-day moving average is $174.91. The stock has a market cap of $96.13 billion, a PE ratio of 32.23, a price-to-earnings-growth ratio of 2.00 and a beta of 1.10. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. Intercontinental Exchange Inc. has a twelve month low of $142.29 and a twelve month high of $189.35.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued its quarterly earnings results 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 company 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 company's quarterly revenue was up 9.8% compared to the same quarter last year. During the same period last year, the company earned $1.52 earnings per share. On average, analysts predict that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ICE has been the topic of several research reports. Piper Sandler raised their price target on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. Barclays raised 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. Finally, UBS Group increased their price target on Intercontinental Exchange from $195.00 to $210.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Ten research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $194.92.

Insider Activity at Intercontinental Exchange

In other news, SVP Douglas Foley sold 1,600 shares of the stock in a transaction that occurred on Friday, September 12th. The shares were 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 directly owned 25,796 shares in the company, valued at $4,530,293.52. This trade represents a 5.84% decrease in their ownership of the stock. The transaction 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 business's stock in a transaction that occurred 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 $8,255,430.69. The trade was a 7.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 231,669 shares of company stock valued at $42,333,438. 1.00% of the stock is owned by corporate insiders.

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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