3,427 Shares in Intercontinental Exchange Inc. $ICE Bought by Whalen Wealth Management Inc.

Whalen Wealth Management Inc. acquired a new stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) in the 2nd quarter, Holdings Channel reports. The institutional investor acquired 3,427 shares of the financial services provider’s stock, valued at approximately $422,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ICE. PNC Financial Services Group Inc. increased its position in shares of Intercontinental Exchange by 5.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 191,658 shares of the financial services provider’s stock worth $31,041,000 after purchasing an additional 10,742 shares during the last quarter. BlackRock Inc. bought a new stake in Intercontinental Exchange during the second quarter valued at approximately $6,245,085,000. USS Investment Management Ltd lifted its position in Intercontinental Exchange by 37.2% during the first quarter. USS Investment Management Ltd now owns 946,920 shares of the financial services provider’s stock valued at $148,960,000 after purchasing an additional 256,851 shares during the last quarter. Walter Public Investments Inc. grew its stake in Intercontinental Exchange by 13.8% in the 4th quarter. Walter Public Investments Inc. now owns 124,993 shares of the financial services provider’s stock worth $20,244,000 after buying an additional 15,129 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in Intercontinental Exchange by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 54,153,170 shares of the financial services provider’s stock worth $8,770,647,000 after buying an additional 413,639 shares in the last quarter. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Intercontinental Exchange Price Performance

Shares of NYSE:ICE opened at $162.89 on Tuesday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63. The stock has a market cap of $91.45 billion, a PE ratio of 23.01, a PEG ratio of 1.57 and a beta of 0.92. The company’s fifty day moving average is $142.80 and its 200 day moving average is $151.54. Intercontinental Exchange Inc. has a 52 week low of $121.79 and a 52 week high of $181.65.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.06. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The business had revenue of $3.61 billion during the quarter, compared to analyst estimates of $2.63 billion. During the same period in the prior year, the business posted $1.81 earnings per share. The company’s revenue was up 4.8% on a year-over-year basis. Research analysts anticipate that Intercontinental Exchange Inc. will post 8.1 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Warren Gardiner sold 2,491 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $156.30, for a total transaction of $389,343.30. Following the transaction, the chief financial officer directly owned 22,698 shares in the company, valued at $3,547,697.40. This trade represents a 9.89% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Douglas Foley sold 1,600 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $160.00, for a total value of $256,000.00. Following the completion of the transaction, the senior vice president directly owned 17,463 shares in the company, valued at $2,794,080. This trade represents a 8.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 17,227 shares of company stock worth $2,598,301. Insiders own 0.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on ICE shares. Wall Street Zen upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Saturday. Morgan Stanley dropped their price objective on shares of Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating for the company in a report on Friday, July 10th. Piper Sandler cut their target price on shares of Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating for the company in a research report on Wednesday, July 15th. TD Cowen reissued a “buy” rating and issued a $177.00 target price (up from $159.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. Finally, Barclays restated an “overweight” rating and set a $182.00 price target (up from $180.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $183.33.

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.