Rep. Richard McCormick Acquires Shares of Intercontinental Exchange Inc. (NYSE:ICE)

Representative Richard McCormick (Republican-Georgia) recently bought shares of Intercontinental Exchange Inc. (NYSE:ICE). In a filing disclosed on July 09th, the Representative disclosed that they had bought between $1,001 and $15,000 in Intercontinental Exchange stock on June 12th. The trade occurred in the Representative’s “GROWTH PARTNERS IRA” account.

Representative Richard McCormick also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of Abbott Laboratories (NYSE:ABT) on 6/12/2026.
• Sold $1,001 – $15,000 in shares of Analog Devices (NASDAQ:ADI) on 6/12/2026.
• Sold $1,001 – $15,000 in shares of BlackRock (NYSE:BLK) on 6/12/2026.
• Sold $1,001 – $15,000 in shares of Cisco Systems (NASDAQ:CSCO) on 6/12/2026.
• Purchased $1,001 – $15,000 in shares of L3Harris Technologies (NYSE:LHX) on 6/12/2026.
• Sold $1,001 – $15,000 in shares of UnitedHealth Group (NYSE:UNH) on 6/12/2026.
• Sold $1,001 – $15,000 in shares of American Tower (NYSE:AMT) on 4/17/2026.

Intercontinental Exchange Stock Down 1.6%

ICE traded down $2.21 on Friday, reaching $139.55. 3,152,352 shares of the company traded hands, compared to its average volume of 4,417,621. 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 52-week low of $121.79 and a 52-week high of $189.35. The stock’s 50 day moving average price is $140.83 and its 200-day moving average price is $154.78. The company has a market cap of $78.92 billion, a price-to-earnings ratio of 20.31, a PEG ratio of 1.46 and a beta of 0.94.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.23 by $0.12. The business had revenue of $3.67 billion during the quarter, compared to analyst estimates of $2.88 billion. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The firm’s revenue was up 20.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.72 EPS. On average, sell-side analysts expect that Intercontinental Exchange Inc. will post 8.07 EPS for the current fiscal year.

Hedge Funds Weigh In On Intercontinental Exchange

Institutional investors have recently modified their holdings of the company. ICONIQ Capital LLC boosted its holdings in shares of Intercontinental Exchange by 2.2% during the 2nd quarter. ICONIQ Capital LLC now owns 2,621 shares of the financial services provider’s stock worth $481,000 after buying an additional 56 shares during the period. Mechanics Financial Corp raised its holdings in Intercontinental Exchange by 1.0% in the 4th quarter. Mechanics Financial Corp now owns 6,138 shares of the financial services provider’s stock worth $994,000 after acquiring an additional 60 shares during the period. Mission Wealth Management LP lifted its position in Intercontinental Exchange by 2.4% during the 4th quarter. Mission Wealth Management LP now owns 2,611 shares of the financial services provider’s stock worth $423,000 after acquiring an additional 62 shares during the last quarter. Aaron Wealth Advisors LLC boosted its holdings in Intercontinental Exchange by 1.9% during the fourth quarter. Aaron Wealth Advisors LLC now owns 3,384 shares of the financial services provider’s stock valued at $548,000 after acquiring an additional 63 shares during the period. Finally, Evergreen Capital Management LLC boosted its holdings in Intercontinental Exchange by 1.5% during the fourth quarter. Evergreen Capital Management LLC now owns 4,207 shares of the financial services provider’s stock valued at $681,000 after acquiring an additional 63 shares during the period. Institutional investors own 89.30% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on ICE. Barclays decreased their target price on shares of Intercontinental Exchange from $201.00 to $180.00 and set an “overweight” rating for the company in a research report on Thursday, July 9th. UBS Group reduced their price objective on shares of Intercontinental Exchange from $205.00 to $190.00 and set a “buy” rating for the company in a research note on Tuesday, July 7th. TD Cowen decreased their price objective on shares of Intercontinental Exchange from $193.00 to $153.00 and set a “buy” rating for the company in a report on Monday, June 22nd. Weiss Ratings downgraded shares of Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, June 17th. Finally, Rothschild & Co Redburn set a $177.00 target price on Intercontinental Exchange in a report on Thursday, June 11th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $181.58.

Insider Buying and Selling

In other news, CFO Warren Gardiner sold 2,490 shares of Intercontinental Exchange stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $156.64, for a total value of $390,033.60. Following the transaction, the chief financial officer directly owned 25,189 shares in the company, valued at approximately $3,945,604.96. The trade was a 9.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Sharon Bowen sold 667 shares of the business’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $151.28, for a total value of $100,903.76. Following the transaction, the director directly owned 15,077 shares of the company’s stock, valued at $2,280,848.56. This represents a 4.24% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 13,425 shares of company stock valued at $2,046,324 in the last quarter. Insiders own 0.84% of the company’s stock.

About Representative McCormick

Rich McCormick (Republican Party) is a member of the U.S. House, representing Georgia’s 7th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027.

McCormick (Republican Party) is running for re-election to the U.S. House to represent Georgia’s 7th Congressional District. He declared candidacy for the 2026 election.

Rich McCormick lives in Suwanee, Georgia. McCormick served in the U.S. Marine Corps and the U.S. Navy. He earned an M.B.A. from National University and an M.D. from Morehouse School of Medicine. McCormick’s career experience includes working as an emergency medicine physician with Gwinnett Medical Center and Northside Hospital, a Marine officer instructor with Georgia Tech and Morehouse College, and a pilot.

About Intercontinental Exchange

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.