McKinley Carter Wealth Services Inc. Takes Position in Intercontinental Exchange Inc. $ICE

McKinley Carter Wealth Services Inc. bought a new stake in Intercontinental Exchange Inc. (NYSE:ICE) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 27,173 shares of the financial services provider’s stock, valued at approximately $4,986,000.

Several other institutional investors and hedge funds have also made changes to their positions in ICE. Tsfg LLC raised its stake in Intercontinental Exchange by 187.3% during the 1st quarter. Tsfg LLC now owns 158 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 103 shares during the last quarter. Activest Wealth Management raised its stake in Intercontinental Exchange by 4,050.0% during the 1st quarter. Activest Wealth Management now owns 166 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 162 shares during the last quarter. Rakuten Securities Inc. raised its stake in Intercontinental Exchange by 595.8% during the 1st quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 143 shares during the last quarter. Hilltop National Bank purchased a new stake in Intercontinental Exchange during the 2nd quarter valued at approximately $31,000. Finally, McClarren Financial Advisors Inc. purchased a new stake in Intercontinental Exchange during the 1st quarter valued at approximately $30,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Piper Sandler upped their price objective on Intercontinental Exchange from $180.00 to $202.00 and gave the company an “overweight” rating in a research note on Tuesday, July 15th. JPMorgan Chase & Co. upped their price objective on Intercontinental Exchange from $195.00 to $203.00 and gave the company an “overweight” rating in a research note on Thursday, September 25th. Barclays reaffirmed an “overweight” rating and set a $201.00 price objective (down from $212.00) on shares of Intercontinental Exchange in a research note on Wednesday. UBS Group upped their price objective on Intercontinental Exchange from $195.00 to $210.00 and gave the company a “buy” rating in a research note on Tuesday, July 8th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Intercontinental Exchange in a research note on Wednesday. Nine equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $197.10.

Intercontinental Exchange Stock Performance

NYSE ICE opened at $159.11 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. The business’s 50 day moving average is $174.55 and its two-hundred day moving average is $174.26. Intercontinental Exchange Inc. has a 12-month low of $142.29 and a 12-month high of $189.35. The stock has a market capitalization of $91.08 billion, a price-to-earnings ratio of 30.54, a PEG ratio of 1.94 and a beta of 1.08.

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

Insiders Place Their Bets

In related news, Director Duriya M. Farooqui sold 2,036 shares of the company’s stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $178.34, for a total value of $363,100.24. Following the sale, the director owned 14,299 shares in the company, valued at $2,550,083.66. This represents a 12.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Douglas Foley sold 1,600 shares of the company’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $175.62, for a total value of $280,992.00. Following the completion of the sale, the senior vice president owned 25,796 shares in the company, valued at approximately $4,530,293.52. This represents a 5.84% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 230,874 shares of company stock worth $42,187,714. 1.00% of the stock is owned by 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.