Creekmur Asset Management LLC Grows Position in Intercontinental Exchange Inc. $ICE

Creekmur Asset Management LLC boosted its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 27.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,891 shares of the financial services provider’s stock after acquiring an additional 409 shares during the quarter. Creekmur Asset Management LLC’s holdings in Intercontinental Exchange were worth $347,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of ICE. Price T Rowe Associates Inc. MD raised its position in Intercontinental Exchange by 491.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,433,497 shares of the financial services provider’s stock worth $1,109,780,000 after acquiring an additional 5,345,388 shares in the last quarter. Nuveen LLC acquired a new stake in Intercontinental Exchange in the first quarter valued at $575,383,000. Wellington Management Group LLP grew its holdings in Intercontinental Exchange by 113.9% in the first quarter. Wellington Management Group LLP now owns 5,943,363 shares of the financial services provider’s stock valued at $1,025,230,000 after purchasing an additional 3,165,381 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Intercontinental Exchange by 50.6% in the first quarter. Bank of New York Mellon Corp now owns 5,933,532 shares of the financial services provider’s stock valued at $1,023,534,000 after purchasing an additional 1,993,084 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in Intercontinental Exchange by 31.7% in the first quarter. Goldman Sachs Group Inc. now owns 3,575,859 shares of the financial services provider’s stock valued at $616,836,000 after purchasing an additional 861,679 shares during the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Insider Activity

In related news, Director Duriya M. Farooqui sold 2,036 shares of the stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $178.34, for a total transaction of $363,100.24. Following the transaction, the director directly owned 14,299 shares in the company, valued at approximately $2,550,083.66. This represents a 12.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Douglas Foley sold 1,600 shares of the 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 transaction, the senior vice president owned 25,796 shares in the company, valued at $4,530,293.52. This trade represents a 5.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 240,162 shares of company stock worth $43,642,652 in the last quarter. Corporate insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on ICE shares. Morgan Stanley lowered their target price on Intercontinental Exchange from $188.00 to $178.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 21st. UBS Group lowered their target price on Intercontinental Exchange from $215.00 to $200.00 and set a “buy” rating on the stock in a report on Friday. Piper Sandler upped their target price on Intercontinental Exchange from $180.00 to $202.00 and gave the company an “overweight” rating in a report on Tuesday, July 15th. Weiss Ratings reissued a “buy (b)” rating on shares of Intercontinental Exchange in a report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. lowered their target price on Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating on the stock in a report on Friday. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $191.82.

Intercontinental Exchange Trading Down 1.6%

Intercontinental Exchange stock opened at $146.10 on Friday. The stock has a market cap of $83.63 billion, a PE ratio of 28.04, a P/E/G ratio of 2.11 and a beta of 1.08. The stock has a 50-day moving average price of $165.55 and a 200 day moving average price of $173.40. Intercontinental Exchange Inc. has a 52 week low of $142.29 and a 52 week high of $189.35. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, October 30th. The financial services provider reported $1.71 EPS for the quarter, hitting analysts’ consensus estimates of $1.71. The firm had revenue of $2.41 billion during the quarter, compared to analysts’ expectations of $2.49 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 2.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.55 EPS. Equities research analysts predict that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

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.