Intercontinental Exchange Inc. $ICE Shares Bought by Koa Wealth Management LLC

Koa Wealth Management LLC grew its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 27.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,866 shares of the financial services provider’s stock after purchasing an additional 4,013 shares during the quarter. Intercontinental Exchange accounts for 2.0% of Koa Wealth Management LLC’s investment portfolio, making the stock its 14th biggest position. Koa Wealth Management LLC’s holdings in Intercontinental Exchange were worth $2,868,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Keystone Financial Group Inc. boosted its holdings in Intercontinental Exchange by 24.4% in the 3rd quarter. Keystone Financial Group Inc. now owns 1,096 shares of the financial services provider’s stock worth $167,000 after acquiring an additional 215 shares during the period. Signal Advisors Wealth LLC grew its position in Intercontinental Exchange by 24.1% in the third quarter. Signal Advisors Wealth LLC now owns 15,389 shares of the financial services provider’s stock valued at $2,340,000 after acquiring an additional 2,990 shares in the last quarter. B. Riley Wealth Advisors Inc. purchased a new stake in shares of Intercontinental Exchange during the third quarter valued at approximately $349,000. Krilogy Financial LLC raised its stake in shares of Intercontinental Exchange by 9.5% during the third quarter. Krilogy Financial LLC now owns 36,019 shares of the financial services provider’s stock valued at $5,670,000 after purchasing an additional 3,125 shares during the period. Finally, Mechanics Bank Trust Department purchased a new stake in shares of Intercontinental Exchange during the third quarter valued at approximately $233,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Wall Street Analysts Forecast Growth

ICE has been the topic of a number of recent research reports. Wells Fargo & Company reissued an “underweight” rating and set a $160.00 target price (up from $159.00) on shares of Intercontinental Exchange in a research report on Wednesday. TD Cowen raised their price target on shares of Intercontinental Exchange from $166.00 to $167.00 and gave the company a “hold” rating in a report on Monday. Rothschild & Co Redburn lifted their price target on shares of Intercontinental Exchange from $173.00 to $181.00 and gave the stock a “buy” rating in a research note on Thursday, September 10th. Barclays reiterated an “overweight” rating and issued a $189.00 price objective (up from $182.00) on shares of Intercontinental Exchange in a report on Wednesday, October 7th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $195.00 price objective (up from $190.00) on shares of Intercontinental Exchange in a report on Friday, October 2nd. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Intercontinental Exchange currently has a consensus rating of “Moderate Buy” and an average target price of $186.31.

Intercontinental Exchange Stock Down 0.5%

NYSE ICE traded down $0.82 during mid-day trading on Wednesday, reaching $155.60. 927,537 shares of the company’s stock traded hands, compared to its average volume of 3,777,296. Intercontinental Exchange Inc. has a 1-year low of $121.79 and a 1-year high of $176.05. The company has a fifty day simple moving average of $155.99 and a 200-day simple moving average of $150.76. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63. The company has a market cap of $87.35 billion, a price-to-earnings ratio of 21.97, a P/E/G ratio of 1.49 and a beta of 0.94.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, July 30th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.84 by $0.06. The company had revenue of $3.61 billion for the quarter, compared to analyst estimates of $2.63 billion. Intercontinental Exchange had a return on equity of 14.95% and a net margin of 30.08%. Intercontinental Exchange’s quarterly revenue was up 4.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.81 EPS. As a group, equities research analysts expect that Intercontinental Exchange Inc. will post 8.18 EPS for the current year.

Insider Buying and Selling at Intercontinental Exchange

In related news, President Benjamin Jackson sold 12,862 shares of the company’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $160.09, for a total value of $2,059,077.58. Following the sale, the president directly owned 164,264 shares of the company’s stock, valued at $26,297,023.76. This represents a 7.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Douglas Foley sold 1,600 shares of the stock in a transaction on Monday, September 14th. The shares were sold at an average price of $160.00, for a total transaction of $256,000.00. Following the transaction, the senior vice president owned 15,863 shares in the company, valued at $2,538,080. This trade represents a 9.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 41,179 shares of company stock valued at $6,473,715. Corporate insiders own 0.84% of the company’s stock.

Intercontinental Exchange Profile

Intercontinental Exchange, Inc (NYSE:ICE) operates global exchanges, clearinghouses, data services and technology platforms. The company provides marketplaces and infrastructure that support the trading, clearing and management of risk across financial and commodity markets.

Its businesses include the New York Stock Exchange, ICE Futures exchanges and ICE Clear clearinghouses. ICE offers trading and clearing services for equities, equity options, interest rates, currencies, energy, agricultural commodities, metals and other contracts.