Chesapeake Wealth Management Decreases Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

Chesapeake Wealth Management decreased its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 2.0% in the third quarter, Holdings Channel.com reports. The institutional investor owned 4,105 shares of the financial services provider’s stock after selling 85 shares during the quarter. Chesapeake Wealth Management’s holdings in Intercontinental Exchange were worth $659,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of ICE. New Millennium Group LLC acquired a new position in shares of Intercontinental Exchange during the 2nd quarter worth approximately $25,000. International Assets Investment Management LLC purchased a new position in Intercontinental Exchange during the second quarter worth approximately $25,000. Fairscale Capital LLC acquired a new position in Intercontinental Exchange during the second quarter worth $25,000. Wolff Wiese Magana LLC grew its holdings in Intercontinental Exchange by 1,470.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock valued at $25,000 after buying an additional 147 shares in the last quarter. Finally, Northwest Investment Counselors LLC acquired a new stake in shares of Intercontinental Exchange in the 3rd quarter worth $26,000. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on ICE shares. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Intercontinental Exchange from $160.00 to $163.00 and gave the company a “hold” rating in a report on Monday, November 11th. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 price target on shares of Intercontinental Exchange in a research note on Friday, November 1st. Piper Sandler lifted their price target on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. TD Cowen started coverage on Intercontinental Exchange in a research report on Thursday, September 26th. They issued a “buy” rating and a $182.00 price objective for the company. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and set a $168.00 target price on shares of Intercontinental Exchange in a research note on Tuesday, August 6th. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $174.13.

Intercontinental Exchange Stock Up 1.4 %

Shares of ICE opened at $157.69 on Tuesday. The company’s 50-day simple moving average is $160.89 and its 200-day simple moving average is $150.44. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.00 and a current ratio of 1.00. Intercontinental Exchange, Inc. has a 1 year low of $110.64 and a 1 year high of $167.99. The stock has a market capitalization of $90.54 billion, a PE ratio of 37.37, a P/E/G ratio of 2.57 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, October 31st. The financial services provider reported $1.55 EPS for the quarter, meeting the consensus estimate of $1.55. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The company had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.35 billion. During the same quarter last year, the company posted $1.46 EPS. The firm’s revenue was up 17.3% compared to the same quarter last year. Analysts forecast that Intercontinental Exchange, Inc. will post 6.07 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Christopher Scott Edmonds sold 602 shares of the company’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $162.81, for a total transaction of $98,011.62. Following the completion of the transaction, the insider now directly owns 14,034 shares of the company’s stock, valued at approximately $2,284,875.54. This represents a 4.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Martha A. Tirinnanzi sold 509 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $158.98, for a total transaction of $80,920.82. Following the sale, the director now directly owns 3,958 shares in the company, valued at approximately $629,242.84. The trade was a 11.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,489 shares of company stock valued at $1,202,259 in the last three months. 1.10% of the stock is owned by corporate insiders.

Intercontinental Exchange 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.