Howe & Rusling Inc. Raises Position in Intercontinental Exchange Inc. $ICE

Howe & Rusling Inc. grew its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 0.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 110,604 shares of the financial services provider’s stock after purchasing an additional 669 shares during the quarter. Intercontinental Exchange makes up about 1.6% of Howe & Rusling Inc.’s investment portfolio, making the stock its 16th biggest position. Howe & Rusling Inc.’s holdings in Intercontinental Exchange were worth $19,079,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Guinness Asset Management LTD increased its holdings in shares of Intercontinental Exchange by 5.3% during the 1st quarter. Guinness Asset Management LTD now owns 287,735 shares of the financial services provider’s stock worth $49,643,000 after buying an additional 14,436 shares during the last quarter. Inspire Investing LLC boosted its position in Intercontinental Exchange by 17.7% during the 1st quarter. Inspire Investing LLC now owns 2,663 shares of the financial services provider’s stock worth $459,000 after purchasing an additional 400 shares during the period. Strs Ohio purchased a new position in Intercontinental Exchange in the 1st quarter valued at about $35,308,000. Jacobi Capital Management LLC boosted its position in Intercontinental Exchange by 1.0% in the 1st quarter. Jacobi Capital Management LLC now owns 13,420 shares of the financial services provider’s stock valued at $2,315,000 after buying an additional 132 shares during the last quarter. Finally, Advisors Capital Management LLC boosted its position in Intercontinental Exchange by 25.0% in the 1st quarter. Advisors Capital Management LLC now owns 1,978 shares of the financial services provider’s stock valued at $341,000 after buying an additional 396 shares during the last quarter. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Barclays upped their target price on shares of Intercontinental Exchange from $206.00 to $212.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. UBS Group upped their target price on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the company a “buy” rating in a research note on Tuesday, July 8th. Finally, Piper Sandler upped their target price on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the company an “overweight” rating in a research note on Tuesday, July 15th. Ten research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $194.92.

Insider Activity

In related news, CFO Warren Gardiner sold 1,570 shares of the stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $178.45, for a total transaction of $280,166.50. Following the sale, the chief financial officer owned 22,106 shares in the company, valued at $3,944,815.70. This represents a 6.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Judith A. Sprieser sold 2,900 shares of the stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $174.51, for a total transaction of $506,079.00. Following the sale, the director owned 18,169 shares in the company, valued at approximately $3,170,672.19. This trade represents a 13.76% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 229,130 shares of company stock valued at $41,890,900 over the last quarter. Corporate insiders own 1.00% of the company’s stock.

Intercontinental Exchange Price Performance

ICE opened at $176.12 on Friday. The firm has a market cap of $100.81 billion, a price-to-earnings ratio of 33.80, a price-to-earnings-growth ratio of 2.05 and a beta of 1.10. Intercontinental Exchange Inc. has a fifty-two week low of $142.29 and a fifty-two week high of $189.35. The company’s 50-day moving average price is $180.80 and its 200 day moving average price is $174.95. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.61.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, July 31st. The financial services provider reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.77 by $0.04. The firm had revenue of $3.26 billion for the quarter, compared to analyst estimates of $2.50 billion. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. Intercontinental Exchange’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.52 earnings per share. As a group, sell-side analysts expect that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

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.