Keebeck Wealth Management Purchases Shares of 8,664 Intercontinental Exchange Inc. $ICE

Key Points

• Keebeck Wealth Management purchased 8,664 shares of Intercontinental Exchange, valued at approximately $1.07 million, while institutional investors and hedge funds collectively own 89.3% of ICE.
• Analysts maintain a generally positive outlook, with ICE carrying a consensus “Moderate Buy” rating and an average price target of $183.33; recent targets range from $177 to $190.
• ICE exceeded quarterly expectations, reporting $1.90 in EPS versus $1.84 expected and $3.61 billion in revenue, up 4.8% year over year. However, company insiders sold 20,200 shares worth about $3.04 million during the last quarter.

Keebeck Wealth Management purchased a new position in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 8,664 shares of the financial services provider's stock, valued at approximately $1,067,000.

A number of other large investors also recently modified their holdings of the business. Keating Financial Advisory Services Inc. bought a new position in shares of Intercontinental Exchange in the 2nd quarter valued at about $46,000. Caldwell Investment Management Ltd. bought a new stake in Intercontinental Exchange during the second quarter worth about $12,302,000. Beckerman Institutional LLC bought a new stake in Intercontinental Exchange during the second quarter worth about $431,000. Allworth Financial LP acquired a new position in Intercontinental Exchange during the second quarter valued at approximately $1,054,000. Finally, B. Metzler seel. Sohn & Co. AG acquired a new position in Intercontinental Exchange during the second quarter valued at approximately $6,758,000. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ICE has been the topic of several recent analyst reports. TD Cowen reaffirmed a "buy" rating and set a $177.00 price target (up from $159.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. The Goldman Sachs Group cut their price objective on Intercontinental Exchange from $208.00 to $180.00 and set a "buy" rating for the company in a report on Tuesday, June 30th. Wall Street Zen raised shares of Intercontinental Exchange from a "sell" rating to a "hold" rating in a research note on Saturday. Piper Sandler lowered their target price on shares of Intercontinental Exchange from $211.00 to $190.00 and set an "overweight" rating on the stock in a report on Wednesday, July 15th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $178.00 price target on shares of Intercontinental Exchange in a research report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $183.33.

Intercontinental Exchange Price Performance

Shares of NYSE ICE opened at $161.29 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63. The business's 50 day moving average price is $142.34 and its two-hundred day moving average price is $151.69. The company has a market cap of $90.55 billion, a PE ratio of 22.78, a price-to-earnings-growth ratio of 1.56 and a beta of 0.92. Intercontinental Exchange Inc. has a twelve month low of $121.79 and a twelve month high of $181.65.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.84 by $0.06. Intercontinental Exchange had a return on equity of 14.95% and a net margin of 30.08%.The company had revenue of $3.61 billion during the quarter, compared to analysts' expectations of $2.63 billion. During the same period last year, the firm posted $1.81 earnings per share. The business's revenue was up 4.8% on a year-over-year basis. On average, analysts predict that Intercontinental Exchange Inc. will post 8.11 EPS for the current year.

Insiders Place Their Bets

In other Intercontinental Exchange news, SVP Douglas Foley sold 7,300 shares of the company's stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $148.88, for a total value of $1,086,824.00. Following the transaction, the senior vice president directly owned 19,063 shares in the company, valued at $2,838,099.44. The trade was a 27.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Warren Gardiner sold 2,491 shares of the stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $156.30, for a total transaction of $389,343.30. Following the completion of the transaction, the chief financial officer directly owned 22,698 shares in the company, valued at $3,547,697.40. The trade was a 9.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 20,200 shares of company stock worth $3,035,385 in the last quarter. Company insiders own 0.84% of the company's stock.

Intercontinental Exchange Company Profile

Intercontinental Exchange NYSE: ICE is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.

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