Intercontinental Exchange Inc. $ICE Shares Purchased by Insight Wealth Strategies LLC

Key Points

• Insight Wealth Strategies LLC increased its stake in Intercontinental Exchange Inc. by 28.8%, acquiring a total of 18,720 shares valued at approximately $3.4 million.
• Intercontinental Exchange reported $1.81 EPS for the last quarter, surpassing expectations, with revenue reaching $3.26 billion, up 9.8% year-over-year.
• Several institutional investors, including Vanguard Group and Price T Rowe Associates, have recently boosted their holdings in Intercontinental Exchange, reflecting significant interest from hedge funds and large investors.

Insight Wealth Strategies LLC boosted its holdings in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 28.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 18,720 shares of the financial services provider's stock after buying an additional 4,187 shares during the period. Insight Wealth Strategies LLC's holdings in Intercontinental Exchange were worth $3,404,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in Intercontinental Exchange by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 52,940,356 shares of the financial services provider's stock worth $9,132,211,000 after buying an additional 712,179 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Intercontinental Exchange by 491.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,433,497 shares of the financial services provider's stock worth $1,109,780,000 after buying an additional 5,345,388 shares during the last quarter. Amundi lifted its stake in shares of Intercontinental Exchange by 14.7% in the 1st quarter. Amundi now owns 6,315,706 shares of the financial services provider's stock valued at $1,060,574,000 after purchasing an additional 810,938 shares in the last quarter. Independent Franchise Partners LLP lifted its stake in shares of Intercontinental Exchange by 0.5% in the 1st quarter. Independent Franchise Partners LLP now owns 6,192,424 shares of the financial services provider's stock valued at $1,068,193,000 after purchasing an additional 31,588 shares in the last quarter. Finally, Wellington Management Group LLP lifted its stake in shares of Intercontinental Exchange by 113.9% in the 1st quarter. Wellington Management Group LLP now owns 5,943,363 shares of the financial services provider's stock valued at $1,025,230,000 after purchasing an additional 3,165,381 shares in the last quarter. 89.30% of the stock is owned by institutional investors and hedge funds.

Intercontinental Exchange Stock Performance

Shares of NYSE:ICE opened at $174.02 on Friday. The company has a market cap of $99.61 billion, a P/E ratio of 33.40, a PEG ratio of 2.10 and a beta of 1.10. 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 Inc. has a one year low of $142.29 and a one year high of $189.35. The business's 50-day simple moving average is $180.62 and its 200 day simple moving average is $174.99.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last announced its earnings results on Thursday, July 31st. The financial services provider reported $1.81 EPS for the quarter, beating the consensus estimate of $1.77 by $0.04. The business had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $2.50 billion. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.The company's revenue was up 9.8% on a year-over-year basis. During the same period last year, the business posted $1.52 EPS. On average, sell-side analysts forecast that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Insider Buying and Selling at Intercontinental Exchange

In related news, Director Judith A. Sprieser sold 2,900 shares of the firm's stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $174.51, for a total transaction of $506,079.00. Following the sale, the director directly owned 18,169 shares in the company, valued at approximately $3,170,672.19. This trade represents a 13.76% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel Andrew J. Surdykowski sold 3,850 shares of Intercontinental Exchange stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $178.33, for a total value of $686,570.50. Following the sale, the general counsel owned 46,293 shares in the company, valued at $8,255,430.69. This represents a 7.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 230,730 shares of company stock worth $42,171,892. Insiders own 1.00% of the company's stock.

Wall Street Analysts Forecast Growth

ICE has been the topic of several research analyst reports. Piper Sandler lifted their price objective on Intercontinental Exchange from $180.00 to $202.00 and gave the company an "overweight" rating in a research note on Tuesday, July 15th. Barclays lifted their price objective on Intercontinental Exchange from $206.00 to $212.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Finally, UBS Group lifted their price objective on Intercontinental Exchange from $195.00 to $210.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Ten investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $194.92.

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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