Apollon Wealth Management LLC Grows Position in Intercontinental Exchange Inc. $ICE

Apollon Wealth Management LLC lifted its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 12.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 21,215 shares of the financial services provider’s stock after purchasing an additional 2,301 shares during the quarter. Apollon Wealth Management LLC’s holdings in Intercontinental Exchange were worth $3,892,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Natural Investments LLC grew its holdings in shares of Intercontinental Exchange by 12.6% during the 2nd quarter. Natural Investments LLC now owns 15,662 shares of the financial services provider’s stock worth $2,873,000 after purchasing an additional 1,747 shares during the period. Conning Inc. boosted its holdings in Intercontinental Exchange by 0.9% during the 2nd quarter. Conning Inc. now owns 27,816 shares of the financial services provider’s stock valued at $5,103,000 after acquiring an additional 257 shares during the period. Trust Co. of Toledo NA OH boosted its holdings in Intercontinental Exchange by 0.9% during the 2nd quarter. Trust Co. of Toledo NA OH now owns 31,863 shares of the financial services provider’s stock valued at $5,846,000 after acquiring an additional 280 shares during the period. Eastern Bank boosted its holdings in Intercontinental Exchange by 59.6% during the 2nd quarter. Eastern Bank now owns 177,751 shares of the financial services provider’s stock valued at $32,612,000 after acquiring an additional 66,398 shares during the period. Finally, PDS Planning Inc boosted its holdings in Intercontinental Exchange by 8.0% during the 2nd quarter. PDS Planning Inc now owns 3,723 shares of the financial services provider’s stock valued at $683,000 after acquiring an additional 276 shares during the period. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Intercontinental Exchange Stock Performance

Shares of ICE opened at $157.51 on Friday. The stock has a 50-day simple moving average of $174.01 and a 200-day simple moving average of $174.12. 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 stock has a market capitalization of $90.16 billion, a PE ratio of 30.23, a PEG ratio of 1.92 and a beta of 1.08. Intercontinental Exchange Inc. has a 1 year low of $142.29 and a 1 year high of $189.35.

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

Insider Buying and Selling at Intercontinental Exchange

In other news, Director Duriya M. Farooqui sold 2,036 shares of the firm’s stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $178.34, for a total transaction of $363,100.24. Following the sale, the director owned 14,299 shares of the company’s stock, valued at approximately $2,550,083.66. This trade represents a 12.46% 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, COO Stuart Glen Williams sold 939 shares of the firm’s stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $172.04, for a total value of $161,545.56. Following the sale, the chief operating officer directly owned 16,624 shares in the company, valued at $2,859,992.96. This trade represents a 5.35% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 240,956 shares of company stock worth $43,789,542. 1.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on ICE shares. Barclays restated an “overweight” rating and set a $201.00 target price (down from $212.00) on shares of Intercontinental Exchange in a report on Wednesday. Weiss Ratings restated a “buy (b)” rating on shares of Intercontinental Exchange in a report on Wednesday. Piper Sandler raised their target price on Intercontinental Exchange from $180.00 to $202.00 and gave the company an “overweight” rating in a report on Tuesday, July 15th. JPMorgan Chase & Co. raised their target price on Intercontinental Exchange from $195.00 to $203.00 and gave the company an “overweight” rating in a report on Thursday, September 25th. Finally, Morgan Stanley decreased their price objective on 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. Nine analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Intercontinental Exchange presently has an average rating of “Moderate Buy” and an average target price of $197.10.

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.