Sagespring Wealth Partners LLC Purchases 618 Shares of Intercontinental Exchange Inc. $ICE

Sagespring Wealth Partners LLC raised its position in Intercontinental Exchange Inc. (NYSE:ICE) by 6.8% during the second quarter, Holdings Channel reports. The institutional investor owned 9,669 shares of the financial services provider’s stock after buying an additional 618 shares during the quarter. Sagespring Wealth Partners LLC’s holdings in Intercontinental Exchange were worth $1,774,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Advisors Capital Management LLC boosted its position in shares of Intercontinental Exchange by 25.0% in the 1st quarter. Advisors Capital Management LLC now owns 1,978 shares of the financial services provider’s stock worth $341,000 after purchasing an additional 396 shares during the last quarter. Capital Investment Advisory Services LLC bought a new position in shares of Intercontinental Exchange in the 1st quarter worth $349,000. Sequoia Financial Advisors LLC boosted its position in shares of Intercontinental Exchange by 18.3% in the 1st quarter. Sequoia Financial Advisors LLC now owns 12,168 shares of the financial services provider’s stock worth $2,099,000 after purchasing an additional 1,879 shares during the last quarter. Ritholtz Wealth Management boosted its position in shares of Intercontinental Exchange by 52.3% in the 1st quarter. Ritholtz Wealth Management now owns 7,953 shares of the financial services provider’s stock worth $1,372,000 after purchasing an additional 2,732 shares during the last quarter. Finally, First American Bank boosted its position in shares of Intercontinental Exchange by 2.1% in the 1st quarter. First American Bank now owns 76,332 shares of the financial services provider’s stock worth $13,167,000 after purchasing an additional 1,580 shares during the last quarter. 89.30% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. UBS Group raised their price target on Intercontinental Exchange from $195.00 to $210.00 and gave the stock a “buy” rating in a research report on Tuesday, July 8th. Piper Sandler raised their price objective on Intercontinental Exchange from $180.00 to $202.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 15th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Intercontinental Exchange in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods raised Intercontinental Exchange to a “moderate buy” rating in a research note on Monday, October 6th. Finally, Morgan Stanley dropped their price objective on 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. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Intercontinental Exchange currently has a consensus rating of “Moderate Buy” and a consensus price target of $199.60.

Intercontinental Exchange Stock Performance

ICE opened at $158.25 on Wednesday. The business’s 50-day moving average price is $172.83 and its two-hundred day moving average price is $173.89. Intercontinental Exchange Inc. has a 1 year low of $142.29 and a 1 year high of $189.35. The company has a market capitalization of $90.58 billion, a price-to-earnings ratio of 30.37, a P/E/G ratio of 2.21 and a beta of 1.08. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results 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. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.The firm had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter last year, the business posted $1.52 EPS. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. Equities analysts expect that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Insider Transactions at Intercontinental Exchange

In other news, CTO Mayur Kapani sold 10,082 shares of the firm’s stock in a transaction dated Wednesday, October 8th. The stock was sold at an average price of $158.88, for a total value of $1,601,828.16. Following the completion of the transaction, the chief technology officer owned 65,240 shares in the company, valued at $10,365,331.20. This trade represents a 13.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Douglas Foley sold 1,600 shares of the firm’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $175.62, for a total value of $280,992.00. Following the completion of the transaction, the senior vice president owned 25,796 shares of the company’s stock, valued at $4,530,293.52. The trade was a 5.84% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 240,956 shares of company stock worth $43,789,542. 1.00% of the stock is currently owned by company insiders.

Intercontinental Exchange Company 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.