Intercontinental Exchange (NYSE:ICE) Shares Bought Rep. Richard McCormick

Key Points

• Rep. Richard McCormick disclosed buying Intercontinental Exchange (NYSE:ICE) shares worth between $1,001 and $15,000 on June 12, held in his GROWTH PARTNERS IRA account.
• ICE recently reported better-than-expected quarterly results, with EPS of $2.35 beating estimates and revenue rising 20.4% year over year to $3.67 billion.
• Wall Street remains generally positive on the stock, with analysts assigning an average Moderate Buy rating and an average price target of $183.33, though several firms recently lowered their targets.

Representative Richard McCormick (Republican-Georgia) recently bought shares of Intercontinental Exchange Inc. NYSE: ICE. In a filing disclosed on July 09th, the Representative disclosed that they had bought between $1,001 and $15,000 in Intercontinental Exchange stock on June 12th. The trade occurred in the Representative's "GROWTH PARTNERS IRA" account.

Representative Richard McCormick also recently made the following trade(s):

• Purchased $1,001 - $15,000 in shares of Abbott Laboratories NYSE: ABT on 6/12/2026.
• Sold $1,001 - $15,000 in shares of Analog Devices NASDAQ: ADI on 6/12/2026.
• Sold $1,001 - $15,000 in shares of BlackRock NYSE: BLK on 6/12/2026.
• Sold $1,001 - $15,000 in shares of Cisco Systems NASDAQ: CSCO on 6/12/2026.
• Purchased $1,001 - $15,000 in shares of L3Harris Technologies NYSE: LHX on 6/12/2026.
• Sold $1,001 - $15,000 in shares of UnitedHealth Group NYSE: UNH on 6/12/2026.
• Sold $1,001 - $15,000 in shares of American Tower NYSE: AMT on 4/17/2026.

Intercontinental Exchange Price Performance

Shares of NYSE:ICE opened at $137.61 on Wednesday. Intercontinental Exchange Inc. has a one year low of $121.79 and a one year high of $189.35. The stock has a fifty day moving average of $141.72 and a 200-day moving average of $155.20. The company has a market capitalization of $77.82 billion, a PE ratio of 20.03, a price-to-earnings-growth ratio of 1.39 and a beta of 0.94. 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 (NYSE:ICE - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.23 by $0.12. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The company had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $2.88 billion. During the same quarter in the prior year, the company posted $1.72 EPS. The firm's revenue was up 20.4% on a year-over-year basis. As a group, equities analysts anticipate that Intercontinental Exchange Inc. will post 8.11 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have issued reports on ICE. Barclays lowered their target price on Intercontinental Exchange from $201.00 to $180.00 and set an "overweight" rating on the stock in a report on Thursday, July 9th. The Goldman Sachs Group reduced their price objective on Intercontinental Exchange from $208.00 to $180.00 and set a "buy" rating for the company in a research report on Tuesday, June 30th. Piper Sandler reissued an "overweight" rating and set a $211.00 price objective (up from $195.00) on shares of Intercontinental Exchange in a report on Wednesday, April 15th. Keefe, Bruyette & Woods began coverage on Intercontinental Exchange in a research report on Wednesday, April 8th. They issued an "outperform" rating and a $190.00 target price for the company. Finally, Raymond James Financial set a $208.00 price target on shares of Intercontinental Exchange in a research note on Monday, July 6th. One investment 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $183.33.

Insider Activity at Intercontinental Exchange

In other news, General Counsel Andrew J. Surdykowski sold 4,573 shares of the firm's stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $151.56, for a total transaction of $693,083.88. Following the sale, the general counsel owned 45,473 shares of the company's stock, valued at approximately $6,891,887.88. This trade represents a 9.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sharon Bowen sold 667 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $151.28, for a total transaction of $100,903.76. Following the completion of the transaction, the director owned 15,077 shares in the company, valued at $2,280,848.56. This represents a 4.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 13,425 shares of company stock worth $2,046,324 over the last three months. Company insiders own 0.84% of the company's stock.

Institutional Investors Weigh In On Intercontinental Exchange

Several institutional investors and hedge funds have recently made changes to their positions in ICE. ICONIQ Capital LLC grew 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 worth $481,000 after acquiring an additional 56 shares in the last quarter. Mechanics Financial Corp lifted its position in shares of Intercontinental Exchange by 1.0% during the 4th quarter. Mechanics Financial Corp now owns 6,138 shares of the financial services provider's stock worth $994,000 after purchasing an additional 60 shares during the last quarter. Mission Wealth Management LP grew its stake in shares of Intercontinental Exchange by 2.4% during the fourth quarter. Mission Wealth Management LP now owns 2,611 shares of the financial services provider's stock worth $423,000 after purchasing an additional 62 shares in the last quarter. Aaron Wealth Advisors LLC grew its stake in shares of Intercontinental Exchange by 1.9% during the fourth quarter. Aaron Wealth Advisors LLC now owns 3,384 shares of the financial services provider's stock worth $548,000 after purchasing an additional 63 shares in the last quarter. Finally, Evergreen Capital Management LLC increased its holdings in Intercontinental Exchange by 1.5% in the fourth quarter. Evergreen Capital Management LLC now owns 4,207 shares of the financial services provider's stock valued at $681,000 after buying an additional 63 shares during the last quarter. Institutional investors and hedge funds own 89.30% of the company's stock.

About Representative McCormick

Rich McCormick (Republican Party) is a member of the U.S. House, representing Georgia's 7th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027. McCormick (Republican Party) is running for re-election to the U.S. House to represent Georgia's 7th Congressional District. He declared candidacy for the 2026 election. Rich McCormick lives in Suwanee, Georgia. McCormick served in the U.S. Marine Corps and the U.S. Navy. He earned an M.B.A. from National University and an M.D. from Morehouse School of Medicine. McCormick's career experience includes working as an emergency medicine physician with Gwinnett Medical Center and Northside Hospital, a Marine officer instructor with Georgia Tech and Morehouse College, and a pilot.

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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