Kingsview Wealth Management LLC Purchases Shares of 10,678 Intercontinental Exchange Inc. $ICE

Kingsview Wealth Management LLC purchased a new stake in Intercontinental Exchange Inc. (NYSE:ICE) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 10,678 shares of the financial services provider’s stock, valued at approximately $1,315,000.

Several other institutional investors have also modified their holdings of the company. Rakuten Securities Inc. purchased a new stake in Intercontinental Exchange during the 2nd quarter worth about $26,000. Brooklands Fund Management Ltd acquired a new stake in shares of Intercontinental Exchange during the 4th quarter worth about $28,000. Swiss RE Ltd. acquired a new stake in shares of Intercontinental Exchange during the 4th quarter worth about $28,000. Lloyd Advisory Services LLC. acquired a new stake in shares of Intercontinental Exchange in the 4th quarter valued at about $30,000. Finally, Gables Capital Management Inc. acquired a new stake in shares of Intercontinental Exchange in the second quarter valued at approximately $31,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Intercontinental Exchange

In other news, General Counsel Andrew J. Surdykowski sold 4,574 shares of the stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $161.77, for a total transaction of $739,935.98. Following the completion of the transaction, the general counsel directly owned 43,065 shares of the company’s stock, valued at approximately $6,966,625.05. This represents a 9.60% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CTO Mayur Kapani sold 4,271 shares of the business’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $151.20, for a total transaction of $645,775.20. Following the sale, the chief technology officer directly owned 67,988 shares in the company, valued at approximately $10,279,785.60. This represents a 5.91% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 23,141 shares of company stock worth $3,554,192 in the last three months. 0.84% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

ICE has been the topic of a number of research reports. Raymond James Financial set a $208.00 target price on shares of Intercontinental Exchange in a research report on Monday, July 6th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $178.00 price target on shares of Intercontinental Exchange in a research note on Friday, July 31st. Barclays reissued an “overweight” rating and set a $182.00 price objective (up from $180.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. Piper Sandler reduced their target price on shares of Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating for the company in a report on Wednesday, July 15th. Finally, Wall Street Zen upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Saturday, August 22nd. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $183.33.

Intercontinental Exchange Price Performance

Shares of NYSE ICE opened at $162.46 on Friday. The stock has a fifty day moving average price of $144.90 and a 200 day moving average price of $151.50. Intercontinental Exchange Inc. has a 1-year low of $121.79 and a 1-year high of $177.76. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market cap of $91.20 billion, a PE ratio of 22.95, a P/E/G ratio of 1.58 and a beta of 0.92.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data 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. The company had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $2.63 billion. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. Intercontinental Exchange’s revenue was up 4.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.81 EPS. Sell-side analysts forecast that Intercontinental Exchange Inc. will post 8.1 EPS for the current year.

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.