Sequoia Financial Advisors LLC Buys 10,949 Shares of Intercontinental Exchange Inc. $ICE

Sequoia Financial Advisors LLC increased its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 90.0% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 23,117 shares of the financial services provider's stock after purchasing an additional 10,949 shares during the period. Sequoia Financial Advisors LLC's holdings in Intercontinental Exchange were worth $4,241,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. MGO One Seven LLC increased its position in shares of Intercontinental Exchange by 19.7% during the second quarter. MGO One Seven LLC now owns 9,236 shares of the financial services provider's stock valued at $1,694,000 after buying an additional 1,517 shares during the period. Hazlett Burt & Watson Inc. grew its stake in Intercontinental Exchange by 32.3% during the second quarter. Hazlett Burt & Watson Inc. now owns 594 shares of the financial services provider's stock valued at $109,000 after acquiring an additional 145 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in Intercontinental Exchange by 6.6% during the second quarter. Allspring Global Investments Holdings LLC now owns 886,369 shares of the financial services provider's stock valued at $161,195,000 after acquiring an additional 55,057 shares in the last quarter. Genesee Capital Advisors LLC boosted its holdings in Intercontinental Exchange by 1.7% in the 2nd quarter. Genesee Capital Advisors LLC now owns 11,536 shares of the financial services provider's stock valued at $2,116,000 after purchasing an additional 196 shares during the period. Finally, CWM LLC boosted its holdings in Intercontinental Exchange by 13.8% in the 2nd quarter. CWM LLC now owns 18,159 shares of the financial services provider's stock valued at $3,332,000 after purchasing an additional 2,197 shares during the period. 89.30% of the stock is currently owned by institutional investors.

Intercontinental Exchange Stock Down 0.3%

Shares of ICE opened at $158.25 on Wednesday. The firm has a market cap of $90.58 billion, a P/E ratio of 30.37, a P/E/G ratio of 2.21 and a beta of 1.08. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01. Intercontinental Exchange Inc. has a 1 year low of $142.29 and a 1 year high of $189.35. The stock has a 50 day simple moving average of $172.83 and a two-hundred day simple moving average of $173.89.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The financial services provider reported $1.81 earnings per share for the quarter, topping analysts' consensus estimates of $1.77 by $0.04. The firm had revenue of $3.26 billion during the quarter, compared to analyst estimates 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 period in the previous year, the business posted $1.52 EPS. On average, analysts forecast that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Insider Activity

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 3,850 shares of the business's stock in a transaction that occurred 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 in the company, valued at approximately $8,255,430.69. The trade was a 7.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Judith A. Sprieser sold 2,900 shares of the business's stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $174.51, for a total value of $506,079.00. Following the completion of the sale, the director owned 18,169 shares of the company's stock, valued at $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 ninety days, insiders sold 240,956 shares of company stock valued at $43,789,542. Company insiders own 1.00% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. UBS Group increased their price objective on Intercontinental Exchange from $195.00 to $210.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. Barclays restated an "overweight" rating and issued a $201.00 target price (down from $212.00) on shares of Intercontinental Exchange in a research note on Wednesday, October 8th. Weiss Ratings reissued a "buy (b)" rating on shares of Intercontinental Exchange in a report on Wednesday, October 8th. 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 research report on Tuesday, July 15th. Finally, Keefe, Bruyette & Woods upgraded shares of Intercontinental Exchange to a "moderate buy" rating in a research report on Monday, October 6th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $199.60.

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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