Exchange Traded Concepts LLC Raises Stock Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Exchange Traded Concepts LLC increased its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 836.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 412 shares of the financial services provider’s stock after purchasing an additional 368 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Intercontinental Exchange were worth $66,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Carnegie Investment Counsel increased its position in Intercontinental Exchange by 0.7% during the 3rd quarter. Carnegie Investment Counsel now owns 14,351 shares of the financial services provider’s stock valued at $2,305,000 after buying an additional 106 shares in the last quarter. Brown Miller Wealth Management LLC increased its holdings in shares of Intercontinental Exchange by 0.9% in the third quarter. Brown Miller Wealth Management LLC now owns 15,871 shares of the financial services provider’s stock valued at $2,549,000 after purchasing an additional 140 shares during the period. HCR Wealth Advisors increased its holdings in shares of Intercontinental Exchange by 2.4% in the third quarter. HCR Wealth Advisors now owns 22,829 shares of the financial services provider’s stock valued at $3,667,000 after purchasing an additional 525 shares during the period. Perfromance Wealth Partners LLC acquired a new stake in Intercontinental Exchange during the third quarter worth about $253,000. Finally, First Affirmative Financial Network acquired a new stake in Intercontinental Exchange during the third quarter worth about $283,000. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Intercontinental Exchange Stock Performance

Shares of ICE opened at $165.00 on Thursday. The stock has a 50 day moving average price of $161.21 and a 200 day moving average price of $146.86. The company has a market capitalization of $94.64 billion, a price-to-earnings ratio of 37.84, a price-to-earnings-growth ratio of 2.62 and a beta of 1.08. Intercontinental Exchange, Inc. has a 52-week low of $104.49 and a 52-week high of $167.23. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.69.

Intercontinental Exchange (NYSE:ICE) last announced its 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. Intercontinental Exchange had a net margin of 21.43% and a return on equity of 12.70%. The business had revenue of $2.32 billion during the quarter, compared to analysts’ expectations of $2.31 billion. During the same period in the prior year, the company earned $1.43 earnings per share. The business’s revenue was up 22.7% compared to the same quarter last year. Research analysts predict that Intercontinental Exchange, Inc. will post 6.08 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ICE has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Intercontinental Exchange from $152.00 to $154.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. Piper Sandler raised their price target on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Raymond James cut shares of Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 price target for the company. in a research report on Monday, October 14th. Citigroup increased their price target on shares of Intercontinental Exchange from $160.00 to $162.00 and gave the stock a “buy” rating in a research report on Tuesday, July 9th. Finally, StockNews.com lowered shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Monday. One analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Intercontinental Exchange has a consensus rating of “Moderate Buy” and an average price target of $173.93.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 2,048 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $159.57, for a total value of $326,799.36. Following the transaction, the general counsel now directly 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the company’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 completion of the transaction, the general counsel now owns 44,865 shares in the company, valued at approximately $7,159,108.05. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Martha A. Tirinnanzi sold 509 shares of Intercontinental Exchange stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $158.98, for a total transaction of $80,920.82. Following the completion of the sale, the director now directly owns 3,958 shares in the company, valued at approximately $629,242.84. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,489 shares of company stock valued at $1,202,259 in the last ninety days. Insiders own 1.10% of the company’s stock.

About Intercontinental Exchange

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.