Wealth Enhancement Advisory Services LLC Increases Position in Intercontinental Exchange Inc. $ICE

Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 14.8% during the third quarter, HoldingsChannel.com reports. The firm owned 45,993 shares of the financial services provider’s stock after purchasing an additional 5,946 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Intercontinental Exchange were worth $7,450,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of Intercontinental Exchange by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 53,685,491 shares of the financial services provider’s stock valued at $9,849,677,000 after buying an additional 745,135 shares in the last quarter. Geode Capital Management LLC boosted its stake in Intercontinental Exchange by 1.2% during the 2nd quarter. Geode Capital Management LLC now owns 12,438,154 shares of the financial services provider’s stock worth $2,270,657,000 after purchasing an additional 145,961 shares during the last quarter. Norges Bank purchased a new stake in shares of Intercontinental Exchange during the second quarter worth $1,542,780,000. Sands Capital Management LLC boosted its position in Intercontinental Exchange by 97.3% during the second quarter. Sands Capital Management LLC now owns 5,313,039 shares of the financial services provider’s stock worth $974,783,000 after acquiring an additional 2,620,310 shares during the last quarter. Finally, Legal & General Group Plc boosted its position in shares of Intercontinental Exchange by 4.1% during the second quarter. Legal & General Group Plc now owns 3,510,634 shares of the financial services provider’s stock worth $644,096,000 after buying an additional 137,685 shares during the period. 89.30% of the stock is owned by institutional investors and hedge funds.

Intercontinental Exchange Stock Performance

Shares of NYSE:ICE opened at $172.94 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01. Intercontinental Exchange Inc. has a 1 year low of $143.17 and a 1 year high of $189.35. The stock has a market capitalization of $98.61 billion, a price-to-earnings ratio of 31.50, a price-to-earnings-growth ratio of 2.10 and a beta of 1.03. The company’s 50 day simple moving average is $161.89 and its 200 day simple moving average is $167.14.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, October 30th. The financial services provider reported $1.71 EPS for the quarter, hitting analysts’ consensus estimates of $1.71. The company had revenue of $3.01 billion for the quarter, compared to analyst estimates of $2.49 billion. Intercontinental Exchange had a net margin of 25.24% and a return on equity of 13.79%. Intercontinental Exchange’s revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.55 earnings per share. As a group, research analysts predict that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Jeffrey C. Sprecher sold 150,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $153.08, for a total value of $22,962,000.00. Following the transaction, the chief executive officer owned 1,801,705 shares in the company, valued at approximately $275,805,001.40. This represents a 7.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Mayur Kapani sold 5,345 shares of the business’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $156.67, for a total value of $837,401.15. Following the completion of the sale, the chief technology officer owned 65,240 shares in the company, valued at $10,221,150.80. This represents a 7.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 166,068 shares of company stock worth $25,470,702 in the last three months. Insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Piper Sandler reaffirmed an “overweight” rating and set a $195.00 price objective (down previously from $202.00) on shares of Intercontinental Exchange in a report on Wednesday, January 14th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $211.00 price target on shares of Intercontinental Exchange in a report on Tuesday, January 6th. Royal Bank Of Canada reissued an “outperform” rating and issued a $180.00 target price on shares of Intercontinental Exchange in a research report on Tuesday, January 6th. Keefe, Bruyette & Woods raised shares of Intercontinental Exchange to a “moderate buy” rating in a research note on Monday, October 6th. Finally, TD Cowen restated a “buy” rating on shares of Intercontinental Exchange in a report on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, Intercontinental Exchange presently has an average rating of “Buy” and an average price target of $193.50.

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.