TRB Wealth Management LLC Makes New $579,000 Investment in Intercontinental Exchange Inc. $ICE

TRB Wealth Management LLC purchased a new stake in Intercontinental Exchange Inc. (NYSE:ICE) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 4,707 shares of the financial services provider’s stock, valued at approximately $579,000.

Other hedge funds also recently made changes to their positions in the company. William Blair Investment Management LLC acquired a new stake in shares of Intercontinental Exchange during the 2nd quarter valued at about $714,000. Landscape Capital Management L.L.C. acquired a new position in Intercontinental Exchange in the second quarter worth about $215,000. Korea Investment CORP acquired a new position in Intercontinental Exchange in the second quarter worth about $48,598,000. EP Wealth Advisors LLC bought a new position in Intercontinental Exchange during the second quarter worth about $4,015,000. Finally, Rakuten Securities Inc. acquired a new stake in Intercontinental Exchange during the second quarter valued at approximately $26,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Insider Buying and Selling

In related news, Director William Jefferson Hague sold 1,333 shares of Intercontinental Exchange stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $139.46, for a total value of $185,900.18. Following the completion of the transaction, the director directly owned 20,132 shares of the company’s stock, valued at $2,807,608.72. The trade was a 6.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 4,573 shares of the company’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $151.56, for a total transaction of $693,083.88. Following the transaction, the general counsel owned 45,473 shares in the company, valued at approximately $6,891,887.88. This trade represents a 9.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 20,200 shares of company stock valued at $3,035,385. Insiders own 0.84% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on ICE shares. Raymond James Financial set a $208.00 price objective on Intercontinental Exchange in a research note on Monday, July 6th. Piper Sandler cut their target price on Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating for the company in a research report on Wednesday, July 15th. Rothschild & Co Redburn set a $177.00 price target on Intercontinental Exchange in a research note on Thursday, June 11th. Morgan Stanley reduced their target price on shares of Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating on the stock in a research note on Friday, July 10th. Finally, Barclays reaffirmed an “overweight” rating and issued a $182.00 target price (up from $180.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $183.33.

Intercontinental Exchange Stock Up 1.7%

Shares of ICE opened at $161.29 on Friday. The company has a market capitalization of $90.55 billion, a P/E ratio of 22.78, a PEG ratio of 1.56 and a beta of 0.92. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01. Intercontinental Exchange Inc. has a one year low of $121.79 and a one year high of $181.65. The business’s 50 day simple moving average is $142.34 and its 200-day simple moving average is $151.69.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.84 by $0.06. Intercontinental Exchange had a return on equity of 14.95% and a net margin of 30.08%.The business had revenue of $3.61 billion for the quarter, compared to analyst estimates of $2.63 billion. During the same period in the prior year, the company earned $1.81 EPS. Intercontinental Exchange’s revenue for the quarter was up 4.8% on a year-over-year basis. As a group, sell-side analysts predict that Intercontinental Exchange Inc. will post 8.11 EPS for the current fiscal year.

About Intercontinental Exchange

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.