Howe & Rusling Inc. Acquires 24,819 Shares of Intercontinental Exchange Inc. $ICE

Howe & Rusling Inc. increased its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 22.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 134,592 shares of the financial services provider’s stock after purchasing an additional 24,819 shares during the period. Intercontinental Exchange accounts for 1.4% of Howe & Rusling Inc.’s investment portfolio, making the stock its 18th largest holding. Howe & Rusling Inc.’s holdings in Intercontinental Exchange were worth $21,799,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Ares Financial Consulting LLC bought a new position in Intercontinental Exchange in the 4th quarter worth approximately $25,000. Brooklands Fund Management Ltd bought a new position in Intercontinental Exchange in the 4th quarter worth approximately $28,000. Dorato Capital Management bought a new position in Intercontinental Exchange in the 4th quarter worth approximately $29,000. Swiss RE Ltd. bought a new position in Intercontinental Exchange in the 4th quarter worth approximately $28,000. Finally, Steph & Co. boosted its holdings in Intercontinental Exchange by 104.7% in the 4th quarter. Steph & Co. now owns 174 shares of the financial services provider’s stock worth $28,000 after buying an additional 89 shares during the period. 89.30% of the stock is owned by institutional investors.

Intercontinental Exchange Stock Up 0.6%

Shares of NYSE:ICE opened at $140.95 on Wednesday. The firm has a fifty day moving average price of $153.32 and a two-hundred day moving average price of $159.10. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01. Intercontinental Exchange Inc. has a one year low of $136.67 and a one year high of $189.35. The company has a market cap of $79.71 billion, a price-to-earnings ratio of 20.52, a PEG ratio of 1.34 and a beta of 0.92.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, April 30th. The financial services provider reported $2.35 EPS for the quarter, beating the consensus estimate of $2.23 by $0.12. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The firm had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $2.88 billion. During the same period last year, the firm earned $1.72 EPS. The business’s quarterly revenue was up 20.4% compared to the same quarter last year. Analysts anticipate that Intercontinental Exchange Inc. will post 8.16 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Barclays reaffirmed an “overweight” rating and issued a $201.00 price objective (up from $198.00) on shares of Intercontinental Exchange in a report on Friday, May 1st. UBS Group reissued a “buy” rating and issued a $205.00 price target on shares of Intercontinental Exchange in a report on Wednesday, May 20th. Morgan Stanley raised their price target on shares of Intercontinental Exchange from $183.00 to $187.00 and gave the company an “equal weight” rating in a report on Friday, April 10th. Weiss Ratings downgraded shares of Intercontinental Exchange from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, June 2nd. Finally, Piper Sandler reissued an “overweight” rating and issued a $211.00 price target (up from $195.00) on shares of Intercontinental Exchange in a report on Wednesday, April 15th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Intercontinental Exchange presently has a consensus rating of “Moderate Buy” and an average price target of $193.00.

Insider Activity

In other news, Director Sharon Bowen sold 667 shares of the firm’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $151.28, for a total transaction of $100,903.76. Following the sale, the director owned 15,077 shares in the company, valued at approximately $2,280,848.56. This trade represents a 4.24% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CTO Mayur Kapani sold 4,271 shares of the firm’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $155.42, for a total transaction of $663,798.82. Following the sale, the chief technology officer owned 64,869 shares in the company, valued at approximately $10,081,939.98. This trade represents a 6.18% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 13,425 shares of company stock worth $2,046,324. Corporate insiders own 0.84% of the company’s stock.

Intercontinental Exchange Company Profile

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.