IronOak Wealth LLC. Invests $964,000 in Intercontinental Exchange Inc. $ICE

Key Points

• IronOak Wealth LLC has acquired a new stake in Intercontinental Exchange Inc., purchasing 5,255 shares valued at approximately $964,000 in the second quarter.
• Insider transactions have seen directors sell shares of Intercontinental Exchange, with one director selling 2,036 shares for over $363,000, resulting in a significant decrease in their holdings.
• Intercontinental Exchange reported a 9.8% increase in revenue year-over-year, with earnings per share of $1.81 exceeding analyst expectations of $1.77.

IronOak Wealth LLC. bought a new position in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 5,255 shares of the financial services provider's stock, valued at approximately $964,000.

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

Intercontinental Exchange Price Performance

ICE stock traded up $0.52 on Monday, reaching $170.29. The company had a trading volume of 4,228,054 shares, compared to its average volume of 2,750,103. The company has a market cap of $97.48 billion, a P/E ratio of 32.69, a PEG ratio of 2.02 and a beta of 1.10. The company's fifty day moving average is $179.35 and its 200 day moving average is $175.01. Intercontinental Exchange Inc. has a 1 year low of $142.29 and a 1 year high of $189.35. 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 announced 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. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.The business had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter in the previous year, the business earned $1.52 earnings per share. The business's revenue for the quarter was up 9.8% on a year-over-year basis. On average, research analysts forecast that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Insider Activity

In other Intercontinental Exchange news, Director Judith A. Sprieser sold 2,900 shares of the stock in a transaction on Thursday, September 4th. The shares were 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 of the company's stock, valued at approximately $3,170,672.19. This represents a 13.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Stuart Glen Williams sold 939 shares of the stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $172.04, for a total transaction of $161,545.56. Following the completion of the sale, the chief operating officer directly owned 16,624 shares in the company, valued at approximately $2,859,992.96. This trade represents a 5.35% 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 valued at $42,333,438 over the last three months. Company insiders own 1.00% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on ICE. Barclays increased their target price on shares of Intercontinental Exchange from $206.00 to $212.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. UBS Group increased their price target on Intercontinental Exchange from $195.00 to $210.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Finally, Piper Sandler lifted their target price 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. Ten equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price 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.