Simplicity Wealth LLC Has $827,000 Stake in Intercontinental Exchange Inc. $ICE

Key Points

• Simplicity Wealth LLC increased its stake in Intercontinental Exchange Inc. by 198.4% during Q2, bringing its holdings to a value of $827,000 after acquiring additional shares.
• Intercontinental Exchange's recent earnings report showed an EPS of $1.81, surpassing estimates and revealing a revenue of $3.26 billion, marking a 9.8% growth year-over-year.
• Brokerages have raised their price targets for Intercontinental Exchange, with JPMorgan Chase setting an updated target of $203.00 and UBS Group revising it to $210.00, indicating a positive outlook from analysts.

Simplicity Wealth LLC increased its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 198.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,506 shares of the financial services provider's stock after acquiring an additional 2,996 shares during the period. Simplicity Wealth LLC's holdings in Intercontinental Exchange were worth $827,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in ICE. Chemung Canal Trust Co. increased its stake in Intercontinental Exchange by 15.2% in the 2nd quarter. Chemung Canal Trust Co. now owns 18,071 shares of the financial services provider's stock valued at $3,315,000 after buying an additional 2,380 shares during the last quarter. OLD National Bancorp IN increased its stake in Intercontinental Exchange by 12.5% in the 2nd quarter. OLD National Bancorp IN now owns 3,554 shares of the financial services provider's stock valued at $652,000 after buying an additional 395 shares during the last quarter. Figure 8 Investment Strategies LLC acquired a new stake in Intercontinental Exchange in the 2nd quarter valued at $902,000. AMF Tjanstepension AB increased its stake in Intercontinental Exchange by 27.8% in the 2nd quarter. AMF Tjanstepension AB now owns 2,139,390 shares of the financial services provider's stock valued at $392,603,000 after buying an additional 465,632 shares during the last quarter. Finally, 111 Capital acquired a new stake in Intercontinental Exchange in the 2nd quarter valued at $1,239,000. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Intercontinental Exchange Stock Performance

Shares of ICE stock opened at $161.76 on Wednesday. The company has a market capitalization of $92.60 billion, a price-to-earnings ratio of 31.05, a PEG ratio of 1.94 and a beta of 1.08. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.01. The company has a 50-day simple moving average of $175.60 and a 200 day simple moving average of $174.47. Intercontinental Exchange Inc. has a 52 week low of $142.29 and a 52 week high of $189.35.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last announced its earnings results on Thursday, July 31st. The financial services provider reported $1.81 EPS for the quarter, topping the consensus estimate of $1.77 by $0.04. The business had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $2.50 billion. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. Intercontinental Exchange's revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.52 EPS. On average, sell-side analysts predict that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have issued reports on ICE. JPMorgan Chase & Co. lifted their price target on shares of Intercontinental Exchange from $195.00 to $203.00 and gave the company an "overweight" rating in a research note on Thursday, September 25th. Morgan Stanley lowered their price target on shares of Intercontinental Exchange from $192.00 to $188.00 and set an "equal weight" rating on the stock in a research note on Wednesday, October 1st. UBS Group lifted their price objective on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. Weiss Ratings reissued a "buy (b)" rating on shares of Intercontinental Exchange in a research report on Saturday, September 27th. Finally, Barclays lifted their price objective on shares of Intercontinental Exchange from $206.00 to $212.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Nine equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $198.20.

Insider Buying and Selling at Intercontinental Exchange

In related news, SVP Douglas Foley sold 1,600 shares of Intercontinental Exchange stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $175.62, for a total transaction of $280,992.00. Following the completion of the sale, the senior vice president owned 25,796 shares of the company's stock, valued at approximately $4,530,293.52. The trade was a 5.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Duriya M. Farooqui sold 2,036 shares of the business's stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $178.34, for a total transaction of $363,100.24. Following the completion of the sale, the director directly owned 14,299 shares of the company's stock, valued at $2,550,083.66. This represents a 12.46% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 230,874 shares of company stock worth $42,187,714 in the last ninety days. Insiders own 1.00% of the company's stock.

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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