Intercontinental Exchange Inc. $ICE Stock Holdings Lifted by Wesbanco Bank Inc.

Key Points

• Wesbanco Bank Inc. increased its stake in Intercontinental Exchange Inc. by 112.8%, now owning 3,724 shares worth $683,000.
• CEO Jeffrey C. Sprecher sold 150,000 shares of Intercontinental Exchange stock for approximately $27.46 million, decreasing his ownership by 7.14%.
• Intercontinental Exchange had a profit of $1.81 per share in its latest quarter, surpassing analysts' estimates, with quarterly revenue rising by 9.8% year-over-year.

Wesbanco Bank Inc. grew its stake in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 112.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,724 shares of the financial services provider's stock after buying an additional 1,974 shares during the period. Wesbanco Bank Inc.'s holdings in Intercontinental Exchange were worth $683,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of ICE. REAP Financial Group LLC boosted 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 acquiring an additional 91 shares during the period. Tsfg LLC increased its position in Intercontinental Exchange by 187.3% in the 1st quarter. Tsfg LLC now owns 158 shares of the financial services provider's stock valued at $27,000 after buying an additional 103 shares in the last quarter. Menard Financial Group LLC bought a new stake in Intercontinental Exchange in the 4th quarter valued at about $29,000. Rakuten Securities Inc. boosted its stake in 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 purchasing an additional 143 shares during the last quarter. Finally, Activest Wealth Management boosted its stake in 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 purchasing an additional 162 shares during the last quarter. 89.30% of the stock is currently owned by institutional investors.

Insider Transactions at Intercontinental Exchange

In other news, CEO Jeffrey C. Sprecher sold 150,000 shares of the company's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $183.09, for a total value of $27,463,500.00. Following the completion of the transaction, the chief executive officer directly owned 1,951,705 shares in the company, valued at approximately $357,337,668.45. This represents a 7.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Douglas Foley sold 1,600 shares of the company's stock in a transaction dated Friday, September 12th. The stock was 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 owned 25,796 shares of the company's stock, valued at $4,530,293.52. The trade was a 5.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 230,730 shares of company stock valued at $42,171,892. Corporate insiders own 1.00% of the company's stock.

Intercontinental Exchange Trading Down 1.1%

Intercontinental Exchange stock opened at $172.02 on Tuesday. The stock has a market cap of $98.47 billion, a P/E ratio of 33.02, a PEG ratio of 2.07 and a beta of 1.10. Intercontinental Exchange Inc. has a fifty-two week low of $142.29 and a fifty-two week high of $189.35. The firm's fifty day moving average price is $180.40 and its 200-day moving average price is $175.02. 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 (NYSE:ICE - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The financial services provider reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.77 by $0.04. The firm had revenue of $3.26 billion for the quarter, compared to analysts' expectations of $2.50 billion. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The business's quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.52 earnings per share. Equities research analysts forecast that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.

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