Savvy Advisors Inc. Purchases 855 Shares of Intercontinental Exchange Inc. $ICE

Savvy Advisors Inc. boosted its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 36.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,185 shares of the financial services provider’s stock after acquiring an additional 855 shares during the quarter. Savvy Advisors Inc.’s holdings in Intercontinental Exchange were worth $584,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Tritonpoint Wealth LLC raised its position in shares of Intercontinental Exchange by 1.4% in the second quarter. Tritonpoint Wealth LLC now owns 4,347 shares of the financial services provider’s stock valued at $798,000 after purchasing an additional 58 shares during the period. RB Capital Management LLC raised its position in shares of Intercontinental Exchange by 1.3% in the second quarter. RB Capital Management LLC now owns 4,584 shares of the financial services provider’s stock valued at $841,000 after purchasing an additional 59 shares during the period. Chemistry Wealth Management LLC raised its position in shares of Intercontinental Exchange by 0.8% in the second quarter. Chemistry Wealth Management LLC now owns 7,847 shares of the financial services provider’s stock valued at $1,440,000 after purchasing an additional 60 shares during the period. Institute for Wealth Management LLC. raised its position in shares of Intercontinental Exchange by 1.9% in the second quarter. Institute for Wealth Management LLC. now owns 3,255 shares of the financial services provider’s stock valued at $597,000 after purchasing an additional 60 shares during the period. Finally, Fielder Capital Group LLC raised its position in shares of Intercontinental Exchange by 2.2% in the first quarter. Fielder Capital Group LLC now owns 2,808 shares of the financial services provider’s stock valued at $484,000 after purchasing an additional 61 shares during the period. 89.30% of the stock is owned by institutional investors.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, CTO Mayur Kapani sold 10,082 shares of the firm’s stock in a transaction dated Wednesday, October 8th. The shares were sold at an average price of $158.88, for a total value of $1,601,828.16. Following the transaction, the chief technology officer directly owned 65,240 shares of the company’s stock, valued at $10,365,331.20. This trade represents a 13.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Duriya M. Farooqui sold 2,036 shares of the firm’s stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $178.34, for a total transaction of $363,100.24. Following the completion of 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 disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 240,162 shares of company stock worth $43,642,652. Corporate insiders own 1.00% of the company’s stock.

Intercontinental Exchange Price Performance

ICE stock opened at $146.10 on Friday. 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 Inc. has a 12 month low of $142.29 and a 12 month high of $189.35. The firm has a market cap of $83.63 billion, a P/E ratio of 28.04, a P/E/G ratio of 2.11 and a beta of 1.08. The company’s 50-day moving average price is $165.55 and its two-hundred day moving average price is $173.40.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, October 30th. The financial services provider reported $1.71 EPS for the quarter, meeting the consensus estimate of $1.71. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The firm had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same period last year, the firm earned $1.55 EPS. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. On average, analysts anticipate that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on ICE shares. JPMorgan Chase & Co. dropped their price objective on shares of Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating on the stock in a research report on Friday. Morgan Stanley dropped their price objective on shares of Intercontinental Exchange from $188.00 to $178.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 21st. UBS Group lowered their price target on shares of Intercontinental Exchange from $215.00 to $200.00 and set a “buy” rating on the stock in a research report on Friday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Intercontinental Exchange in a research report on Wednesday, October 8th. Finally, Barclays set a $183.00 price target on shares of Intercontinental Exchange and gave the stock an “overweight” rating in a research report on Friday. One equities research 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. According to data from MarketBeat, Intercontinental Exchange currently has a consensus rating of “Moderate Buy” and an average price target of $191.82.

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.