Intercontinental Exchange, Inc. (NYSE:ICE) Shares Purchased by Financial Enhancement Group LLC

Financial Enhancement Group LLC grew its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 74.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 69,457 shares of the financial services provider’s stock after purchasing an additional 29,656 shares during the period. Intercontinental Exchange accounts for about 1.5% of Financial Enhancement Group LLC’s investment portfolio, making the stock its 25th largest position. Financial Enhancement Group LLC’s holdings in Intercontinental Exchange were worth $9,994,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of ICE. Fairscale Capital LLC purchased a new stake in shares of Intercontinental Exchange in the second quarter valued at $25,000. Wolff Wiese Magana LLC boosted its stake in Intercontinental Exchange by 1,470.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock worth $25,000 after buying an additional 147 shares during the last quarter. Northwest Investment Counselors LLC purchased a new stake in Intercontinental Exchange in the 3rd quarter valued at about $26,000. Financial Management Professionals Inc. increased its stake in shares of Intercontinental Exchange by 106.1% during the 3rd quarter. Financial Management Professionals Inc. now owns 169 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 87 shares during the last quarter. Finally, Capital Performance Advisors LLP purchased a new position in shares of Intercontinental Exchange during the 3rd quarter worth about $29,000. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, General Counsel Andrew J. Surdykowski sold 955 shares of Intercontinental Exchange stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $156.08, for a total value of $149,056.40. Following the completion of the transaction, the general counsel now directly owns 44,702 shares of the company’s stock, valued at approximately $6,977,088.16. The trade was a 2.09 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, President Benjamin Jackson sold 5,828 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $160.00, for a total transaction of $932,480.00. Following the sale, the president now directly owns 156,163 shares of the company’s stock, valued at approximately $24,986,080. This represents a 3.60 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,533 shares of company stock worth $1,196,279. 1.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages recently commented on ICE. Raymond James lowered shares of Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 price target for the company. in a research report on Monday, October 14th. JPMorgan Chase & Co. boosted their price objective on shares of Intercontinental Exchange from $171.00 to $188.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Barclays cut their target price on Intercontinental Exchange from $187.00 to $179.00 and set an “overweight” rating on the stock in a research report on Monday. TD Cowen started coverage on Intercontinental Exchange in a research report on Thursday, September 26th. They set a “buy” rating and a $182.00 price target for the company. Finally, Piper Sandler raised their price objective on Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $175.20.

Intercontinental Exchange Price Performance

Shares of NYSE ICE opened at $148.11 on Thursday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.68. Intercontinental Exchange, Inc. has a fifty-two week low of $124.34 and a fifty-two week high of $167.99. The business has a 50 day moving average price of $153.62 and a two-hundred day moving average price of $155.53. The firm has a market cap of $85.04 billion, a PE ratio of 35.10, a price-to-earnings-growth ratio of 2.29 and a beta of 1.10.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, hitting the consensus estimate of $1.55. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The company had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same period last year, the business earned $1.46 EPS. The firm’s revenue for the quarter was up 17.3% compared to the same quarter last year. Sell-side analysts expect that Intercontinental Exchange, Inc. will post 6.06 earnings per share for the current fiscal year.

About Intercontinental Exchange

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.