Intercontinental Exchange Inc. $ICE Shares Purchased by Rialto Wealth Management LLC

Rialto Wealth Management LLC increased its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 47.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,150 shares of the financial services provider’s stock after purchasing an additional 2,928 shares during the period. Rialto Wealth Management LLC’s holdings in Intercontinental Exchange were worth $1,679,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in ICE. 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 worth $341,000 after purchasing an additional 396 shares in the last quarter. Trillium Asset Management LLC increased its holdings in shares of Intercontinental Exchange by 12.0% during the 2nd quarter. Trillium Asset Management LLC now owns 272,010 shares of the financial services provider’s stock valued at $49,907,000 after purchasing an additional 29,250 shares in the last quarter. Lecap Asset Management Ltd. acquired a new position in shares of Intercontinental Exchange in the 2nd quarter valued at $1,075,000. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its holdings in Intercontinental Exchange by 18.5% during the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 103,206 shares of the financial services provider’s stock worth $18,935,000 after buying an additional 16,100 shares in the last quarter. Finally, LPL Financial LLC grew its position in Intercontinental Exchange by 6.0% during the first quarter. LPL Financial LLC now owns 482,151 shares of the financial services provider’s stock valued at $83,171,000 after buying an additional 27,443 shares during the period. 89.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ICE has been the subject of a number of analyst reports. Raymond James Financial upgraded shares of Intercontinental Exchange from an “outperform” rating to a “strong-buy” rating and set a $210.00 price objective for the company in a research report on Monday, October 13th. Barclays set a $183.00 price target on Intercontinental Exchange and gave the stock an “overweight” rating in a report on Friday, October 31st. TD Cowen dropped their price objective on Intercontinental Exchange from $199.00 to $175.00 and set a “buy” rating on the stock in a report on Friday, October 31st. UBS Group cut their price objective on Intercontinental Exchange from $215.00 to $200.00 and set a “buy” rating for the company in a research report on Friday, October 31st. Finally, Piper Sandler upped their target price on Intercontinental Exchange from $180.00 to $202.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Intercontinental Exchange currently has an average rating of “Moderate Buy” and an average price target of $191.82.

Insider Buying and Selling at Intercontinental Exchange

In other news, Director Judith A. Sprieser sold 2,900 shares of the stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $174.51, for a total value of $506,079.00. Following the completion of the sale, the director directly owned 18,169 shares in the company, valued at $3,170,672.19. This represents a 13.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CTO Mayur Kapani sold 10,082 shares of the firm’s stock in a transaction dated Wednesday, October 8th. The stock was sold at an average price of $158.88, for a total transaction of $1,601,828.16. Following the completion of the transaction, the chief technology officer directly owned 65,240 shares in the company, valued at approximately $10,365,331.20. This represents a 13.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 240,162 shares of company stock valued at $43,642,652. 1.00% of the stock is owned by company insiders.

Intercontinental Exchange Stock Performance

NYSE ICE opened at $148.93 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01. The stock’s 50 day simple moving average is $162.47 and its 200-day simple moving average is $173.02. The company has a market cap of $84.92 billion, a PE ratio of 28.59, a price-to-earnings-growth ratio of 2.11 and a beta of 1.06. Intercontinental Exchange Inc. has a 1-year low of $142.29 and a 1-year high of $189.35.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, October 30th. The financial services provider reported $1.71 EPS for the quarter, hitting the consensus estimate of $1.71. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.The firm had revenue of $2.41 billion during the quarter, compared to analysts’ expectations of $2.49 billion. During the same period in the previous year, the business earned $1.55 earnings per share. The firm’s revenue for the quarter was up 2.6% on a year-over-year basis. As a group, equities research analysts anticipate that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

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.