Inspire Trust Co. N.A. Grows Position in Intercontinental Exchange Inc. $ICE

Inspire Trust Co. N.A. boosted its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 19.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 27,514 shares of the financial services provider’s stock after purchasing an additional 4,514 shares during the period. Inspire Trust Co. N.A.’s holdings in Intercontinental Exchange were worth $4,456,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. ICONIQ Capital LLC lifted its position in Intercontinental Exchange by 2.2% during the second quarter. ICONIQ Capital LLC now owns 2,621 shares of the financial services provider’s stock valued at $481,000 after purchasing an additional 56 shares in the last quarter. Mechanics Financial Corp lifted its position in Intercontinental Exchange by 1.0% during the fourth quarter. Mechanics Financial Corp now owns 6,138 shares of the financial services provider’s stock valued at $994,000 after purchasing an additional 60 shares in the last quarter. Mission Wealth Management LP lifted its position in Intercontinental Exchange by 2.4% during the fourth quarter. Mission Wealth Management LP now owns 2,611 shares of the financial services provider’s stock valued at $423,000 after purchasing an additional 62 shares in the last quarter. Aaron Wealth Advisors LLC lifted its position in Intercontinental Exchange by 1.9% during the fourth quarter. Aaron Wealth Advisors LLC now owns 3,384 shares of the financial services provider’s stock valued at $548,000 after purchasing an additional 63 shares in the last quarter. Finally, Evergreen Capital Management LLC lifted its position in Intercontinental Exchange by 1.5% during the fourth quarter. Evergreen Capital Management LLC now owns 4,207 shares of the financial services provider’s stock valued at $681,000 after purchasing an additional 63 shares in the last quarter. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Intercontinental Exchange Trading Down 1.2%

Shares of ICE stock opened at $147.93 on Friday. Intercontinental Exchange Inc. has a 12-month low of $143.17 and a 12-month high of $189.35. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63. The stock’s 50-day moving average price is $157.56 and its 200-day moving average price is $160.16. The stock has a market capitalization of $83.66 billion, a price-to-earnings ratio of 21.53, a price-to-earnings-growth ratio of 1.39 and a beta of 0.96.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.23 by $0.12. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The firm had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $2.88 billion. During the same period in the previous year, the firm posted $1.72 earnings per share. The business’s revenue was up 20.4% compared to the same quarter last year. Equities research analysts predict that Intercontinental Exchange Inc. will post 8.15 EPS for the current fiscal year.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, Director Sharon Bowen sold 667 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $151.28, for a total transaction of $100,903.76. Following the sale, the director directly owned 15,077 shares of the company’s stock, valued at $2,280,848.56. The trade was a 4.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Andrew J. Surdykowski sold 4,573 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $151.56, for a total value of $693,083.88. Following the sale, the general counsel directly owned 45,473 shares in the company, valued at $6,891,887.88. The trade was a 9.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 12,001 shares of company stock valued at $1,847,820. 0.84% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on ICE shares. Barclays reiterated an “overweight” rating and set a $201.00 target price (up from $198.00) on shares of Intercontinental Exchange in a research report on Friday, May 1st. Weiss Ratings cut Intercontinental Exchange from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, April 24th. UBS Group reissued a “buy” rating and set a $205.00 price target on shares of Intercontinental Exchange in a report on Wednesday, May 20th. Piper Sandler reissued an “overweight” rating and set a $211.00 price target (up from $195.00) on shares of Intercontinental Exchange in a report on Wednesday, April 15th. Finally, Wall Street Zen raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. One investment 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 stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $194.60.

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.