Financial Enhancement Group LLC Decreases Holdings in Intercontinental Exchange Inc. $ICE

Key Points

• Financial Enhancement Group LLC reduced its holdings in Intercontinental Exchange by 4.9% during the second quarter, now owning 63,930 shares worth approximately $11.54 million.
• Analysts have raised price targets for Intercontinental Exchange, with Piper Sandler setting a new objective of $202.00 and UBS increasing their target to $210.00, both indicating positive market sentiment.
• Insider transactions included COO Stuart Glen Williams selling 939 shares, marking a 5.35% decrease in his holdings, as corporate insiders sold a total of 231,669 shares recently.

Financial Enhancement Group LLC lessened its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 4.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 63,930 shares of the financial services provider's stock after selling 3,288 shares during the period. Intercontinental Exchange accounts for about 1.7% of Financial Enhancement Group LLC's portfolio, making the stock its 20th biggest position. Financial Enhancement Group LLC's holdings in Intercontinental Exchange were worth $11,540,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently modified their holdings of the stock. Advisors Capital Management LLC lifted its holdings in shares of Intercontinental Exchange by 25.0% during the 1st quarter. Advisors Capital Management LLC now owns 1,978 shares of the financial services provider's stock worth $341,000 after acquiring an additional 396 shares during the period. Capital Investment Advisory Services LLC acquired a new stake in shares of Intercontinental Exchange in the 1st quarter valued at $349,000. Sequoia Financial Advisors LLC raised its holdings in shares of Intercontinental Exchange by 18.3% during the 1st quarter. Sequoia Financial Advisors LLC now owns 12,168 shares of the financial services provider's stock worth $2,099,000 after buying an additional 1,879 shares in the last quarter. Lansforsakringar Fondforvaltning AB publ bought a new stake in shares of Intercontinental Exchange during the 4th quarter worth $28,949,000. Finally, Ritholtz Wealth Management raised its stake in Intercontinental Exchange by 52.3% during the first quarter. Ritholtz Wealth Management now owns 7,953 shares of the financial services provider's stock worth $1,372,000 after acquiring an additional 2,732 shares in the last quarter. 89.30% of the stock is currently owned by institutional investors.

Intercontinental Exchange Stock Up 0.3%

Intercontinental Exchange stock traded up $0.52 during mid-day trading on Monday, reaching $170.29. The stock had a trading volume of 4,228,054 shares, compared to its average volume of 2,750,103. The firm has a market capitalization of $97.48 billion, a PE ratio of 32.69, a price-to-earnings-growth ratio of 2.02 and a beta of 1.10. The stock's 50-day simple moving average is $179.35 and its 200-day simple moving average is $175.01. 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 fifty-two week low of $142.29 and a fifty-two week high of $189.35.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The financial services provider reported $1.81 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $2.50 billion. During the same period last year, the firm earned $1.52 earnings per share. The business's quarterly revenue was up 9.8% compared to the same quarter last year. On average, sell-side analysts forecast that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. UBS Group upped their price objective on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. Piper Sandler boosted their price objective on Intercontinental Exchange from $180.00 to $202.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 15th. Finally, Barclays upped 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. Ten research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $194.92.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, Director Judith A. Sprieser sold 2,900 shares of the firm's stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $174.51, for a total transaction of $506,079.00. Following the transaction, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Stuart Glen Williams sold 939 shares of the firm's stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $172.04, for a total transaction of $161,545.56. Following the transaction, the chief operating officer directly owned 16,624 shares in the company, valued at $2,859,992.96. The trade was a 5.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 231,669 shares of company stock valued at $42,333,438 in the last three months. Insiders own 1.00% of the company's stock.

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.