Elk River Wealth Management LLC Increases Stock Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Elk River Wealth Management LLC lifted its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 0.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 40,249 shares of the financial services provider’s stock after buying an additional 127 shares during the quarter. Intercontinental Exchange comprises about 1.2% of Elk River Wealth Management LLC’s portfolio, making the stock its 28th largest holding. Elk River Wealth Management LLC’s holdings in Intercontinental Exchange were worth $6,466,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of ICE. Vanguard Group Inc. raised its position in Intercontinental Exchange by 7.5% during the 1st quarter. Vanguard Group Inc. now owns 50,776,525 shares of the financial services provider’s stock worth $6,978,218,000 after buying an additional 3,536,913 shares during the last quarter. CCLA Investment Management raised its holdings in Intercontinental Exchange by 91,838.2% during the first quarter. CCLA Investment Management now owns 1,114,291 shares of the financial services provider’s stock worth $152,923,000 after purchasing an additional 1,113,079 shares in the last quarter. Manning & Napier Advisors LLC acquired a new stake in Intercontinental Exchange in the second quarter valued at about $124,508,000. Janus Henderson Group PLC boosted its holdings in Intercontinental Exchange by 589.4% in the 1st quarter. Janus Henderson Group PLC now owns 804,507 shares of the financial services provider’s stock valued at $110,559,000 after purchasing an additional 687,817 shares in the last quarter. Finally, James Hambro & Partners acquired a new position in Intercontinental Exchange during the 2nd quarter worth approximately $93,340,000. 89.30% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, CAO James W. Namkung sold 1,043 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $150.00, for a total value of $156,450.00. Following the completion of the sale, the chief accounting officer now directly owns 17,836 shares of the company’s stock, valued at approximately $2,675,400. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Intercontinental Exchange news, CAO James W. Namkung sold 1,043 shares of the firm’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $150.00, for a total value of $156,450.00. Following the sale, the chief accounting officer now directly owns 17,836 shares of the company’s stock, valued at approximately $2,675,400. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 2,048 shares of the company’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $159.57, for a total transaction of $326,799.36. Following the transaction, the general counsel now directly owns 44,865 shares of the company’s stock, valued at approximately $7,159,108.05. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,532 shares of company stock valued at $1,507,309. Company insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

ICE has been the subject of several recent analyst reports. Bank of America raised their price target on Intercontinental Exchange from $168.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. TD Cowen began coverage on Intercontinental Exchange in a report on Thursday, September 26th. They issued a “buy” rating and a $182.00 target price for the company. Piper Sandler upped their price target on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Intercontinental Exchange from $152.00 to $154.00 and gave the company a “hold” rating in a report on Thursday, August 15th. Finally, Barclays boosted their price objective on shares of Intercontinental Exchange from $167.00 to $179.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $170.67.

Intercontinental Exchange Price Performance

Shares of NYSE ICE traded up $1.13 during trading on Monday, reaching $163.70. The company had a trading volume of 171,810 shares, compared to its average volume of 2,475,362. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.69. Intercontinental Exchange, Inc. has a twelve month low of $104.49 and a twelve month high of $164.18. The stock has a 50-day moving average price of $159.19 and a two-hundred day moving average price of $145.34. The stock has a market capitalization of $93.90 billion, a PE ratio of 37.29, a price-to-earnings-growth ratio of 2.62 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, August 1st. The financial services provider reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.03. Intercontinental Exchange had a net margin of 21.43% and a return on equity of 12.70%. The firm had revenue of $2.32 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter in the previous year, the company posted $1.43 EPS. The firm’s revenue for the quarter was up 22.7% on a year-over-year basis. As a group, sell-side analysts predict that Intercontinental Exchange, Inc. will post 6.08 earnings per share for the current year.

Intercontinental Exchange Company Profile

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.