18,384 Intercontinental Exchange Inc. $ICE Shares Sold by Financial Enhancement Group LLC

Financial Enhancement Group LLC cut its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 21.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 66,785 shares of the financial services provider’s stock after selling 18,384 shares during the period. Intercontinental Exchange accounts for 1.2% of Financial Enhancement Group LLC’s portfolio, making the stock its 27th largest holding. Financial Enhancement Group LLC’s holdings in Intercontinental Exchange were worth $10,191,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Farther Finance Advisors LLC increased its position in Intercontinental Exchange by 20.0% during the third quarter. Farther Finance Advisors LLC now owns 18,293 shares of the financial services provider’s stock worth $2,781,000 after buying an additional 3,051 shares during the last quarter. CoreCap Advisors LLC lifted its position in shares of Intercontinental Exchange by 3.5% in the third quarter. CoreCap Advisors LLC now owns 5,752 shares of the financial services provider’s stock valued at $875,000 after buying an additional 192 shares during the last quarter. Everhart Financial Group Inc. acquired a new stake in shares of Intercontinental Exchange in the third quarter valued at approximately $262,000. Avidian Wealth Enterprises LLC boosted its stake in shares of Intercontinental Exchange by 5.9% during the 3rd quarter. Avidian Wealth Enterprises LLC now owns 4,288 shares of the financial services provider’s stock worth $652,000 after acquiring an additional 240 shares during the period. Finally, Valeo Financial Advisors LLC increased its holdings in shares of Intercontinental Exchange by 5.7% during the 3rd quarter. Valeo Financial Advisors LLC now owns 6,754 shares of the financial services provider’s stock worth $1,027,000 after acquiring an additional 363 shares during the last quarter. 89.30% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, SVP Douglas Foley sold 1,600 shares of the firm’s stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $160.00, for a total transaction of $256,000.00. Following the transaction, the senior vice president directly owned 15,863 shares of the company’s stock, valued at approximately $2,538,080. This trade represents a 9.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Christopher Edmonds sold 5,000 shares of Intercontinental Exchange stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $160.59, for a total transaction of $802,950.00. Following the completion of the sale, the insider owned 14,367 shares of the company’s stock, valued at $2,307,196.53. This trade represents a 25.82% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 41,179 shares of company stock valued at $6,473,715 in the last 90 days. 0.84% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. The Goldman Sachs Group dropped their price target on Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. Wall Street Zen cut shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Saturday, September 5th. Wells Fargo & Company initiated coverage on shares of Intercontinental Exchange in a report on Friday, October 2nd. They issued an “underweight” rating and a $159.00 price objective on the stock. Raymond James Financial reissued a “strong-buy” rating and issued a $218.00 price objective on shares of Intercontinental Exchange in a research report on Tuesday, September 1st. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $195.00 target price (up from $190.00) on shares of Intercontinental Exchange in a report on Friday, October 2nd. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $182.31.

Intercontinental Exchange Stock Performance

NYSE:ICE traded up $2.77 during mid-day trading on Thursday, hitting $155.36. 2,034,618 shares of the stock were exchanged, compared to its average volume of 3,805,488. The stock has a market capitalization of $87.22 billion, a price-to-earnings ratio of 21.94, a price-to-earnings-growth ratio of 1.46 and a beta of 0.94. The firm’s 50-day simple moving average is $155.68 and its 200 day simple moving average is $150.76. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01. Intercontinental Exchange Inc. has a fifty-two week low of $121.79 and a fifty-two week high of $176.05.

Intercontinental Exchange (NYSE:ICE) last released 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. The business had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $2.63 billion. Intercontinental Exchange had a return on equity of 14.95% and a net margin of 30.08%.The firm’s quarterly revenue was up 4.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.81 EPS. As a group, equities analysts anticipate that Intercontinental Exchange Inc. will post 8.15 EPS for the current fiscal year.

Intercontinental Exchange Company Profile

Intercontinental Exchange, Inc (NYSE:ICE) operates global exchanges, clearinghouses, data services and technology platforms. The company provides marketplaces and infrastructure that support the trading, clearing and management of risk across financial and commodity markets.

Its businesses include the New York Stock Exchange, ICE Futures exchanges and ICE Clear clearinghouses. ICE offers trading and clearing services for equities, equity options, interest rates, currencies, energy, agricultural commodities, metals and other contracts.