Carmel Capital Partners LLC Increases Holdings in Intercontinental Exchange Inc. $ICE

Carmel Capital Partners LLC lifted its position in Intercontinental Exchange Inc. (NYSE:ICE) by 13.4% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 12,245 shares of the financial services provider’s stock after purchasing an additional 1,445 shares during the period. Carmel Capital Partners LLC’s holdings in Intercontinental Exchange were worth $2,247,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Tsfg LLC lifted its holdings in 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 buying an additional 103 shares during the period. Activest Wealth Management lifted its holdings in Intercontinental Exchange by 4,050.0% during the first quarter. Activest Wealth Management now owns 166 shares of the financial services provider’s stock worth $29,000 after buying an additional 162 shares during the period. Hilltop National Bank purchased a new stake in Intercontinental Exchange during the second quarter worth $31,000. McClarren Financial Advisors Inc. purchased a new stake in Intercontinental Exchange during the first quarter worth $30,000. Finally, Accredited Wealth Management LLC purchased a new stake in Intercontinental Exchange during the first quarter worth $33,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Performance

Shares of ICE opened at $153.52 on Friday. Intercontinental Exchange Inc. has a 12 month low of $142.29 and a 12 month high of $189.35. The stock has a fifty day moving average price of $170.86 and a 200-day moving average price of $173.52. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. The firm has a market cap of $87.88 billion, a PE ratio of 29.47, a P/E/G ratio of 2.14 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last issued 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 return on equity of 13.66% and a net margin of 23.92%.The firm had revenue of $3.26 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same quarter in the prior year, the business posted $1.52 EPS. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. Equities research analysts predict that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Insider Transactions at Intercontinental Exchange

In related news, Director Judith A. Sprieser sold 2,900 shares of the company’s stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $174.51, for a total value of $506,079.00. Following the transaction, the director directly owned 18,169 shares of the company’s stock, valued at $3,170,672.19. This represents a 13.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Mayur Kapani sold 10,082 shares of the company’s stock in a transaction on Wednesday, October 8th. The shares were 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 directly owned 65,240 shares in the company, valued at approximately $10,365,331.20. The trade was a 13.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 240,956 shares of company stock worth $43,789,542 over the last 90 days. Insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Raymond James Financial upgraded Intercontinental Exchange from an “outperform” rating to a “strong-buy” rating and set a $210.00 target price for the company in a report on Monday. Morgan Stanley lowered their target price on Intercontinental Exchange from $192.00 to $188.00 and set an “equal weight” rating for the company in a report on Wednesday, October 1st. Piper Sandler upped their target price on Intercontinental Exchange from $180.00 to $202.00 and gave the stock an “overweight” rating in a report on Tuesday, July 15th. Keefe, Bruyette & Woods upgraded Intercontinental Exchange to a “moderate buy” rating in a report on Monday, October 6th. Finally, UBS Group increased their price objective on Intercontinental Exchange from $195.00 to $210.00 and gave the company a “buy” rating in a report on Tuesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $199.60.

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.