Perigon Wealth Management LLC Purchases Shares of 34,594 Intercontinental Exchange Inc. $ICE

Key Points

• Perigon Wealth Management purchased 34,594 shares of Intercontinental Exchange, valued at approximately $4.26 million, during the second quarter. Institutional investors collectively own 89.30% of ICE’s outstanding shares.
• ICE reported quarterly earnings of $1.90 per share, exceeding the $1.84 consensus estimate, while revenue rose 4.8% year over year to $3.61 billion. The company maintains a 30.08% net margin and analysts expect about $8.10 in full-year EPS.
• Analysts remain broadly bullish, with a consensus rating of “Moderate Buy” and an average price target of $183.33 versus the stock’s recent price of $154.62. However, company insiders sold 18,376 shares worth approximately $2.75 million over the past 90 days.

Perigon Wealth Management LLC 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 Securities and Exchange Commission (SEC). The firm purchased 34,594 shares of the financial services provider's stock, valued at approximately $4,259,000.

A number of other institutional investors also recently made changes to their positions in ICE. ICONIQ Capital LLC boosted its holdings in Intercontinental Exchange by 2.2% during the 2nd quarter. ICONIQ Capital LLC now owns 2,621 shares of the financial services provider's stock valued at $481,000 after acquiring an additional 56 shares during the period. Mission Wealth Management LP increased its position in shares of Intercontinental Exchange by 2.4% in the fourth quarter. Mission Wealth Management LP now owns 2,611 shares of the financial services provider's stock valued at $423,000 after acquiring an additional 62 shares during the period. Evergreen Capital Management LLC boosted its holdings in shares of Intercontinental Exchange by 1.5% during the fourth quarter. Evergreen Capital Management LLC now owns 4,207 shares of the financial services provider's stock worth $681,000 after purchasing an additional 63 shares during the period. Johnson Financial Group LLC increased its holdings in Intercontinental Exchange by 4.0% during the 4th quarter. Johnson Financial Group LLC now owns 1,710 shares of the financial services provider's stock valued at $277,000 after purchasing an additional 65 shares during the period. Finally, Cornerstone Planning Group LLC raised its position in Intercontinental Exchange by 33.5% during the 1st quarter. Cornerstone Planning Group LLC now owns 271 shares of the financial services provider's stock valued at $42,000 after purchasing an additional 68 shares during the last quarter. Hedge funds and other institutional investors own 89.30% of the company's stock.

Intercontinental Exchange Stock Down 0.1%

NYSE:ICE opened at $154.62 on Tuesday. The firm has a market cap of $86.80 billion, a P/E ratio of 21.84, a P/E/G ratio of 1.52 and a beta of 0.92. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01. Intercontinental Exchange Inc. has a fifty-two week low of $121.79 and a fifty-two week high of $181.72. The firm has a 50-day simple moving average of $140.90 and a two-hundred day simple moving average of $151.97.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued its earnings results on Thursday, July 30th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.06. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The firm had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $2.63 billion. During the same quarter in the prior year, the firm posted $1.81 earnings per share. The business's revenue was up 4.8% on a year-over-year basis. Analysts predict that Intercontinental Exchange Inc. will post 8.1 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Douglas Foley sold 7,300 shares of the company's stock in a transaction that occurred on Wednesday, August 5th. The stock was 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 of the company's stock, valued at approximately $2,838,099.44. This represents a 27.69% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Sharon Bowen sold 667 shares of the stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $151.28, for a total value of $100,903.76. Following the sale, the director owned 15,077 shares in the company, valued at approximately $2,280,848.56. This represents a 4.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 18,376 shares of company stock worth $2,746,946 over the last 90 days. 0.84% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. The Goldman Sachs Group cut their price objective on Intercontinental Exchange from $208.00 to $180.00 and set a "buy" rating on the stock in a research report on Tuesday, June 30th. TD Cowen reaffirmed a "buy" rating and set a $177.00 price objective (up from $159.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $178.00 target price on shares of Intercontinental Exchange in a research note on Friday, July 31st. Barclays reaffirmed an "overweight" rating and issued a $182.00 price target (up from $180.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. Finally, UBS Group reissued a "buy" rating and set a $195.00 price objective (up from $190.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $183.33.

About Intercontinental Exchange

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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