Marquette Asset Management LLC Acquires New Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Marquette Asset Management LLC acquired a new stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,790 shares of the financial services provider’s stock, valued at approximately $288,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ICE. Cetera Advisor Networks LLC raised its stake in shares of Intercontinental Exchange by 22.0% during the 4th quarter. Cetera Advisor Networks LLC now owns 34,151 shares of the financial services provider’s stock valued at $4,386,000 after purchasing an additional 6,164 shares during the period. 1832 Asset Management L.P. boosted its position in shares of Intercontinental Exchange by 1,197.5% in the fourth quarter. 1832 Asset Management L.P. now owns 1,038 shares of the financial services provider’s stock valued at $133,000 after acquiring an additional 958 shares during the period. Sei Investments Co. grew its stake in Intercontinental Exchange by 2.2% during the fourth quarter. Sei Investments Co. now owns 336,633 shares of the financial services provider’s stock valued at $43,234,000 after acquiring an additional 7,269 shares in the last quarter. Cresset Asset Management LLC increased its holdings in Intercontinental Exchange by 5.4% during the 4th quarter. Cresset Asset Management LLC now owns 67,066 shares of the financial services provider’s stock worth $8,613,000 after acquiring an additional 3,421 shares during the period. Finally, Icon Wealth Advisors LLC purchased a new stake in Intercontinental Exchange in the 4th quarter worth approximately $722,000. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Price Performance

ICE stock opened at $162.09 on Wednesday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.69. The firm’s 50-day moving average price is $158.32 and its two-hundred day moving average price is $144.63. The stock has a market capitalization of $92.97 billion, a price-to-earnings ratio of 37.18, a PEG ratio of 2.81 and a beta of 1.08. Intercontinental Exchange, Inc. has a 12-month low of $104.49 and a 12-month high of $164.18.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, August 1st. The financial services provider reported $1.52 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.03. The business had revenue of $2.32 billion during the quarter, compared to analyst estimates of $2.31 billion. Intercontinental Exchange had a return on equity of 12.70% and a net margin of 21.43%. Intercontinental Exchange’s quarterly revenue was up 22.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.43 EPS. As a group, equities analysts predict that Intercontinental Exchange, Inc. will post 6.04 earnings per share for the current year.

Insider Activity at Intercontinental Exchange

In related news, insider Christopher Scott Edmonds sold 1,000 shares of the business’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $148.60, for a total transaction of $148,600.00. Following the transaction, the insider now owns 14,636 shares in the company, valued at $2,174,909.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Christopher Scott Edmonds sold 1,000 shares of the company’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $148.60, for a total value of $148,600.00. Following the sale, the insider now directly owns 14,636 shares of the company’s stock, valued at $2,174,909.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Andrew J. Surdykowski sold 2,048 shares of the business’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $159.57, for a total transaction of $326,799.36. Following the sale, the general counsel now owns 44,865 shares in the company, valued at approximately $7,159,108.05. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,532 shares of company stock worth $1,507,309 over the last quarter. 1.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on ICE shares. Deutsche Bank Aktiengesellschaft upped their price target on shares of Intercontinental Exchange from $152.00 to $154.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. StockNews.com upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Thursday, October 3rd. Raymond James upped their price objective on shares of Intercontinental Exchange from $174.00 to $185.00 and gave the stock a “strong-buy” rating in a research report on Friday, October 4th. JPMorgan Chase & Co. raised their target price on shares of Intercontinental Exchange from $151.00 to $171.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Finally, Piper Sandler boosted their price target on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a research note on Tuesday. Three investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Intercontinental Exchange currently has a consensus rating of “Moderate Buy” and an average target price of $170.67.

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.