Principle Wealth Partners LLC Acquires 86 Shares of Intercontinental Exchange Inc. $ICE

Principle Wealth Partners LLC grew its position in Intercontinental Exchange Inc. (NYSE:ICE) by 5.9% in the second quarter, according to its most recent filing with the SEC. The fund owned 1,539 shares of the financial services provider’s stock after acquiring an additional 86 shares during the period. Principle Wealth Partners LLC’s holdings in Intercontinental Exchange were worth $282,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Advisors Capital Management LLC lifted its stake in shares of 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 acquiring an additional 396 shares during the last quarter. Capital Investment Advisory Services LLC bought a new position in shares of Intercontinental Exchange in the 1st quarter valued at $349,000. Sequoia Financial Advisors LLC lifted its stake in shares of Intercontinental Exchange by 18.3% in the 1st quarter. Sequoia Financial Advisors LLC now owns 12,168 shares of the financial services provider’s stock valued at $2,099,000 after acquiring an additional 1,879 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of Intercontinental Exchange by 6.3% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 69,143 shares of the financial services provider’s stock valued at $11,927,000 after acquiring an additional 4,107 shares during the last quarter. Finally, Lecap Asset Management Ltd. bought a new position in shares of Intercontinental Exchange in the 2nd quarter valued at $1,075,000. 89.30% of the stock is currently owned by institutional investors.

Intercontinental Exchange Stock Performance

Shares of Intercontinental Exchange stock opened at $157.39 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 has a 50-day moving average price of $168.73 and a two-hundred day moving average price of $173.36. Intercontinental Exchange Inc. has a 1-year low of $142.29 and a 1-year high of $189.35. The company has a market cap of $90.09 billion, a P/E ratio of 30.21, a PEG ratio of 2.20 and a beta of 1.08.

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

Analyst Ratings Changes

A number of brokerages have recently commented on ICE. JPMorgan Chase & Co. increased their price target 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 restated an “overweight” rating and issued a $201.00 price objective (down from $212.00) on shares of Intercontinental Exchange in a report on Wednesday, October 8th. Weiss Ratings restated a “buy (b)” rating on shares of Intercontinental Exchange in a report on Wednesday, October 8th. UBS Group increased their price objective on Intercontinental Exchange from $195.00 to $210.00 and gave the company a “buy” rating in a report on Tuesday, July 8th. Finally, Piper Sandler increased their price objective on Intercontinental Exchange from $180.00 to $202.00 and gave the company an “overweight” rating in a report on Tuesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Intercontinental Exchange has an average rating of “Moderate Buy” and an average target price of $198.60.

Insider Activity

In other news, SVP Douglas Foley sold 1,600 shares of the firm’s stock in a transaction dated 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 directly owned 25,796 shares in the company, valued at $4,530,293.52. This trade represents a 5.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Stuart Glen Williams sold 939 shares of the firm’s stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $172.04, for a total value of $161,545.56. Following the completion of the sale, the chief operating officer owned 16,624 shares of the company’s stock, valued at approximately $2,859,992.96. This represents a 5.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 240,162 shares of company stock worth $43,642,652. 1.00% of the stock is owned by insiders.

Intercontinental Exchange Company 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.