Intercontinental Exchange Inc. $ICE Shares Acquired by Global Trust Asset Management LLC

Global Trust Asset Management LLC lifted its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 348.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 807 shares of the financial services provider’s stock after purchasing an additional 627 shares during the period. Global Trust Asset Management LLC’s holdings in Intercontinental Exchange were worth $148,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Advisors Capital Management LLC increased its position in Intercontinental Exchange by 25.0% during the first quarter. Advisors Capital Management LLC now owns 1,978 shares of the financial services provider’s stock worth $341,000 after buying an additional 396 shares in the last quarter. Capital Investment Advisory Services LLC acquired a new stake in shares of Intercontinental Exchange during the first quarter valued at $349,000. Sequoia Financial Advisors LLC increased its position in Intercontinental Exchange by 18.3% during the 1st quarter. Sequoia Financial Advisors LLC now owns 12,168 shares of the financial services provider’s stock worth $2,099,000 after purchasing an additional 1,879 shares in the last quarter. Ritholtz Wealth Management raised its stake in Intercontinental Exchange by 52.3% in the 1st quarter. Ritholtz Wealth Management now owns 7,953 shares of the financial services provider’s stock valued at $1,372,000 after purchasing an additional 2,732 shares during the last quarter. Finally, First American Bank lifted its holdings in Intercontinental Exchange by 2.1% in the 1st quarter. First American Bank now owns 76,332 shares of the financial services provider’s stock valued at $13,167,000 after purchasing an additional 1,580 shares in the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. UBS Group upped their price objective on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the company a “buy” rating in a research note on Tuesday, July 8th. Piper Sandler increased their price target on Intercontinental Exchange from $180.00 to $202.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 15th. JPMorgan Chase & Co. lifted their price objective on Intercontinental Exchange from $195.00 to $203.00 and gave the company an “overweight” rating in a research report on Thursday, September 25th. Finally, Barclays increased their target price on Intercontinental Exchange from $206.00 to $212.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Nine equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $197.36.

Intercontinental Exchange Trading Up 0.1%

NYSE ICE opened at $167.91 on Tuesday. Intercontinental Exchange Inc. has a one year low of $142.29 and a one year high of $189.35. The company’s 50 day moving average price is $178.05 and its 200 day moving average price is $174.95. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market capitalization of $96.11 billion, a price-to-earnings ratio of 32.23, a PEG ratio of 2.00 and a beta of 1.10.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, July 31st. The financial services provider reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.04. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The company had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same period in the previous year, the firm earned $1.52 earnings per share. Intercontinental Exchange’s revenue for the quarter was up 9.8% on a year-over-year basis. On average, sell-side analysts predict that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Insider Buying and Selling

In other news, COO Stuart Glen Williams sold 939 shares of the stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $172.04, for a total value of $161,545.56. Following the completion of the sale, the chief operating officer owned 16,624 shares of the company’s stock, valued at $2,859,992.96. This represents a 5.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Judith A. Sprieser sold 2,900 shares of the stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $174.51, for a total transaction of $506,079.00. Following the completion of the sale, the director directly owned 18,169 shares of the company’s stock, valued at $3,170,672.19. The trade was a 13.76% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 230,874 shares of company stock valued at $42,187,714. 1.00% of the stock is owned by corporate insiders.

About Intercontinental Exchange

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.