Proffitt & Goodson Inc. Acquires 191 Shares of Intercontinental Exchange Inc. $ICE

Proffitt & Goodson Inc. lifted its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 2.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,321 shares of the financial services provider’s stock after buying an additional 191 shares during the period. Proffitt & Goodson Inc.’s holdings in Intercontinental Exchange were worth $1,527,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in ICE. Tsfg LLC increased its position in shares of Intercontinental Exchange by 187.3% during the first quarter. Tsfg LLC now owns 158 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 103 shares during the period. Activest Wealth Management boosted its stake in shares of Intercontinental Exchange by 4,050.0% during the first quarter. Activest Wealth Management now owns 166 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 162 shares in the last quarter. Rakuten Securities Inc. boosted its stake in Intercontinental Exchange by 595.8% in the first quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 143 shares in the last quarter. Hilltop National Bank acquired a new stake in Intercontinental Exchange in the second quarter valued at approximately $31,000. Finally, McClarren Financial Advisors Inc. acquired a new stake in Intercontinental Exchange in the first quarter valued at approximately $30,000. 89.30% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Intercontinental Exchange

In other news, Director Duriya M. Farooqui sold 2,036 shares of Intercontinental Exchange 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 in the company, valued at $2,550,083.66. The trade was a 12.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Stuart Glen Williams sold 939 shares of the business’s stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $172.04, for a total transaction of $161,545.56. Following the completion of the sale, the chief operating officer owned 16,624 shares of the company’s stock, valued at approximately $2,859,992.96. The trade was a 5.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 230,874 shares of company stock valued at $42,187,714. Corporate insiders own 1.00% of the company’s stock.

Intercontinental Exchange Stock Up 1.7%

ICE stock opened at $161.76 on Wednesday. Intercontinental Exchange Inc. has a one year low of $142.29 and a one year high of $189.35. The stock has a market capitalization of $92.60 billion, a PE ratio of 31.05, a price-to-earnings-growth 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 fifty day moving average of $175.60 and a 200-day moving average of $174.47.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, July 31st. The financial services provider reported $1.81 EPS for the quarter, beating the consensus estimate of $1.77 by $0.04. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The firm had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $2.50 billion. During the same quarter last year, the business earned $1.52 earnings per share. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. As a group, analysts expect that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Analyst Ratings Changes

ICE has been the subject of several research reports. Piper Sandler lifted their price objective on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 15th. Morgan Stanley cut their target price on shares of Intercontinental Exchange from $192.00 to $188.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 1st. Weiss Ratings reissued a “buy (b)” rating on shares of Intercontinental Exchange in a research note on Saturday, September 27th. Barclays upped their price objective on shares of Intercontinental Exchange from $206.00 to $212.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. Finally, UBS Group boosted their target price on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the company a “buy” rating in a report on Tuesday, July 8th. Nine equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $198.20.

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.