Midwest Trust Co Takes Position in Intercontinental Exchange Inc. $ICE

Midwest Trust Co bought a new stake in Intercontinental Exchange Inc. (NYSE:ICE) in the second quarter, Holdings Channel reports. The institutional investor bought 4,343 shares of the financial services provider’s stock, valued at approximately $797,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Princeton Global Asset Management LLC acquired a new position in shares of Intercontinental Exchange in the 2nd quarter valued at $28,000. Activest Wealth Management boosted its stake in shares of Intercontinental Exchange by 4,050.0% during the 1st quarter. Activest Wealth Management now owns 166 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 162 shares during the period. Westside Investment Management Inc. acquired a new stake in Intercontinental Exchange during the second quarter worth approximately $29,000. McClarren Financial Advisors Inc. bought a new position in Intercontinental Exchange during the first quarter worth about $30,000. Finally, Hilltop National Bank acquired a new stake in shares of Intercontinental Exchange during the 2nd quarter worth $31,000. 89.30% of the stock is owned by institutional investors.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, SVP Douglas Foley sold 1,600 shares of Intercontinental Exchange stock in a transaction on Friday, September 12th. The shares were sold at an average price of $175.62, for a total transaction of $280,992.00. Following the sale, the senior vice president owned 25,796 shares of the company’s stock, valued at $4,530,293.52. The trade was a 5.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Judith A. Sprieser sold 2,900 shares of the company’s stock in a transaction that occurred 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 sale, the director owned 18,169 shares in the company, valued at $3,170,672.19. The trade was a 13.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 23,587 shares of company stock worth $3,989,936 in the last ninety days. Company insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

ICE has been the topic of several research reports. Piper Sandler boosted their price target on Intercontinental Exchange from $180.00 to $202.00 and gave the stock an “overweight” rating in a report on Tuesday, July 15th. Raymond James Financial upgraded Intercontinental Exchange from an “outperform” rating to a “strong-buy” rating and set a $210.00 price objective for the company in a research note on Monday, October 13th. JPMorgan Chase & Co. cut their target price on shares of Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating for the company in a research report on Friday, October 31st. TD Cowen reduced their target price on Intercontinental Exchange from $199.00 to $175.00 and set a “buy” rating for the company in a research report on Friday, October 31st. Finally, Morgan Stanley reduced their price target on shares of Intercontinental Exchange from $188.00 to $178.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 21st. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $194.70.

Intercontinental Exchange Stock Up 1.7%

ICE opened at $152.09 on Wednesday. The stock has a market cap of $86.72 billion, a price-to-earnings ratio of 29.19, a price-to-earnings-growth ratio of 2.11 and a beta of 1.06. The firm’s fifty day moving average is $161.47 and its 200 day moving average is $173.02. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.01. Intercontinental Exchange Inc. has a fifty-two week low of $142.29 and a fifty-two week 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 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.71. The firm had revenue of $2.41 billion during the quarter, compared to analyst estimates of $2.49 billion. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.Intercontinental Exchange’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period last year, the company earned $1.55 EPS. On average, sell-side analysts forecast that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

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.