Rede Wealth LLC Purchases New Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Rede Wealth LLC bought a new position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) in the third quarter, according to the company in its most recent filing with the SEC. The firm bought 1,363 shares of the financial services provider’s stock, valued at approximately $219,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Intercontinental Exchange by 7.5% in the first quarter. Vanguard Group Inc. now owns 50,776,525 shares of the financial services provider’s stock valued at $6,978,218,000 after buying an additional 3,536,913 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Intercontinental Exchange by 4.3% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 5,280,194 shares of the financial services provider’s stock valued at $725,657,000 after purchasing an additional 218,516 shares during the last quarter. Mawer Investment Management Ltd. grew its stake in shares of Intercontinental Exchange by 0.6% during the first quarter. Mawer Investment Management Ltd. now owns 4,696,457 shares of the financial services provider’s stock valued at $645,434,000 after purchasing an additional 28,771 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of Intercontinental Exchange by 4.5% in the second quarter. Legal & General Group Plc now owns 4,453,286 shares of the financial services provider’s stock valued at $609,609,000 after purchasing an additional 191,763 shares in the last quarter. Finally, Clearbridge Investments LLC raised its position in Intercontinental Exchange by 10.4% in the 2nd quarter. Clearbridge Investments LLC now owns 3,019,195 shares of the financial services provider’s stock worth $413,298,000 after purchasing an additional 284,664 shares during the last quarter. 89.30% of the stock is owned by institutional investors.

Intercontinental Exchange Trading Up 1.2 %

Shares of Intercontinental Exchange stock traded up $2.02 during trading hours on Friday, hitting $166.83. The company’s stock had a trading volume of 2,310,759 shares, compared to its average volume of 2,482,702. The company has a market capitalization of $95.69 billion, a PE ratio of 38.26, a price-to-earnings-growth ratio of 2.62 and a beta of 1.08. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.99. The stock has a 50 day moving average of $160.55 and a 200 day moving average of $146.26. Intercontinental Exchange, Inc. has a 12 month low of $104.49 and a 12 month high of $167.23.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, August 1st. The financial services provider reported $1.52 EPS for the quarter, topping the consensus estimate of $1.49 by $0.03. The firm had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.31 billion. Intercontinental Exchange had a net margin of 21.43% and a return on equity of 12.70%. The business’s quarterly revenue was up 22.7% on a year-over-year basis. During the same period last year, the company posted $1.43 EPS. Analysts predict that Intercontinental Exchange, Inc. will post 6.08 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently commented on ICE. TD Cowen initiated coverage on Intercontinental Exchange in a research note on Thursday, September 26th. They issued a “buy” rating and a $182.00 target price for the company. The Goldman Sachs Group lifted their price objective on Intercontinental Exchange from $171.00 to $185.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Barclays upped their target price on shares of Intercontinental Exchange from $167.00 to $179.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price target on shares of Intercontinental Exchange in a research report on Friday, October 4th. Finally, Piper Sandler increased their price objective on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, Intercontinental Exchange currently has a consensus rating of “Moderate Buy” and a consensus price target of $172.80.

Insider Activity at Intercontinental Exchange

In other news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the business’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $159.57, for a total value of $326,799.36. Following the sale, the general counsel now directly owns 44,865 shares in the company, valued at $7,159,108.05. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the firm’s stock in a transaction that occurred 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 directly owns 44,865 shares of the company’s stock, valued at $7,159,108.05. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO James W. Namkung sold 1,043 shares of the business’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $150.00, for a total transaction of $156,450.00. Following the completion of the sale, the chief accounting officer now directly owns 17,836 shares in the company, valued at approximately $2,675,400. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 8,532 shares of company stock valued at $1,358,709. 1.10% of the stock is owned by corporate insiders.

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.