Perigon Wealth Management LLC Grows Stake in Intercontinental Exchange Inc. $ICE

Key Points

• Perigon Wealth Management LLC increased its stake in Intercontinental Exchange Inc. by 15.0% during the 2nd quarter, now holding shares worth approximately $3.2 million.
• Multiple brokerages, including Piper Sandler and UBS Group, have raised their target prices for the stock, with an average consensus target price of $197.36.
• Insider trading activity showed significant sales, with General Counsel Andrew J. Surdykowski and Director Judith A. Sprieser selling shares, contributing to a total insider sale of 231,669 shares worth over $42 million in the last quarter.

Perigon Wealth Management LLC grew its holdings in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 15.0% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 17,455 shares of the financial services provider's stock after buying an additional 2,283 shares during the quarter. Perigon Wealth Management LLC's holdings in Intercontinental Exchange were worth $3,203,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Tsfg LLC raised its position in shares of Intercontinental Exchange by 187.3% in the 1st quarter. Tsfg LLC now owns 158 shares of the financial services provider's stock worth $27,000 after acquiring an additional 103 shares in the last quarter. Rakuten Securities Inc. raised its position in shares of Intercontinental Exchange by 595.8% in the 1st quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider's stock worth $29,000 after acquiring an additional 143 shares in the last quarter. Activest Wealth Management raised its position in shares of Intercontinental Exchange by 4,050.0% in the 1st quarter. Activest Wealth Management now owns 166 shares of the financial services provider's stock worth $29,000 after acquiring an additional 162 shares in the last quarter. McClarren Financial Advisors Inc. bought a new position in shares of Intercontinental Exchange in the 1st quarter worth approximately $30,000. Finally, Global Trust Asset Management LLC bought a new position in shares of Intercontinental Exchange in the 1st quarter worth approximately $31,000. Hedge funds and other institutional investors own 89.30% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ICE. Piper Sandler increased their target price on Intercontinental Exchange from $180.00 to $202.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 15th. UBS Group increased their target price on Intercontinental Exchange from $195.00 to $210.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. JPMorgan Chase & Co. increased their target price on Intercontinental Exchange from $195.00 to $203.00 and gave the stock an "overweight" rating in a research report on Thursday. Finally, Barclays increased their target price on Intercontinental Exchange from $206.00 to $212.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Nine investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Intercontinental Exchange has an average rating of "Moderate Buy" and a consensus target price of $197.36.

Insiders Place Their Bets

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 3,850 shares of Intercontinental Exchange stock in a transaction 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 completion of the sale, the general counsel owned 46,293 shares of the company's stock, valued at approximately $8,255,430.69. This trade represents a 7.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Judith A. Sprieser sold 2,900 shares of Intercontinental Exchange stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $174.51, for a total value of $506,079.00. Following the completion of the sale, the director directly owned 18,169 shares of the company's stock, valued at approximately $3,170,672.19. The trade was a 13.76% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 231,669 shares of company stock worth $42,333,438. 1.00% of the stock is owned by corporate insiders.

Intercontinental Exchange Stock Up 0.2%

ICE stock opened at $167.69 on Friday. Intercontinental Exchange Inc. has a twelve month low of $142.29 and a twelve month high of $189.35. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.61. The firm has a market cap of $95.99 billion, a PE ratio of 32.19, a price-to-earnings-growth ratio of 1.99 and a beta of 1.10. The business has a 50 day moving average of $178.30 and a 200 day moving average of $174.90.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last posted 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 return on equity of 13.66% and a net margin of 23.92%.The company had revenue of $3.26 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same quarter last year, the company earned $1.52 EPS. The firm'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 EPS for the current fiscal year.

Intercontinental Exchange 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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