Intercontinental Exchange Inc. $ICE Shares Bought by DAVENPORT & Co LLC

DAVENPORT & Co LLC lifted its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 0.2% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 731,075 shares of the financial services provider’s stock after acquiring an additional 1,753 shares during the quarter. DAVENPORT & Co LLC’s holdings in Intercontinental Exchange were worth $133,847,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC grew its position in Intercontinental Exchange by 51.3% in the fourth quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider’s stock worth $514,000 after buying an additional 1,169 shares during the last quarter. NBC Securities Inc. acquired a new position in shares of Intercontinental Exchange in the 1st quarter worth $88,000. Magnus Financial Group LLC acquired a new position in shares of Intercontinental Exchange in the 1st quarter worth $228,000. First Affirmative Financial Network raised its position in shares of Intercontinental Exchange by 8.4% during the first quarter. First Affirmative Financial Network now owns 1,838 shares of the financial services provider’s stock worth $317,000 after purchasing an additional 142 shares during the period. Finally, Sivia Capital Partners LLC lifted its holdings in shares of Intercontinental Exchange by 4.6% during the first quarter. Sivia Capital Partners LLC now owns 1,789 shares of the financial services provider’s stock valued at $309,000 after purchasing an additional 78 shares during the last quarter. 89.30% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ICE. UBS Group lifted their price target on Intercontinental Exchange from $195.00 to $210.00 and gave the stock a “buy” rating in a research note on Tuesday, July 8th. Weiss Ratings reissued a “buy (b)” rating on shares of Intercontinental Exchange in a research report on Saturday, September 27th. Piper Sandler boosted their price target on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the company an “overweight” rating in a report on Tuesday, July 15th. JPMorgan Chase & Co. raised their price objective on shares of Intercontinental Exchange from $195.00 to $203.00 and gave the stock an “overweight” rating in a research note on Thursday, September 25th. Finally, Morgan Stanley cut their target price on shares of Intercontinental Exchange from $192.00 to $188.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 1st. Nine research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Intercontinental Exchange presently has an average rating of “Moderate Buy” and an average price target of $198.20.

Intercontinental Exchange Stock Performance

Shares of ICE opened at $162.47 on Monday. The company has a market capitalization of $93.00 billion, a PE ratio of 31.18, a PEG ratio of 1.98 and a beta of 1.08. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.01. The company’s 50 day moving average price is $176.53 and its 200 day moving average price is $174.67. Intercontinental Exchange Inc. has a 52 week low of $142.29 and a 52 week high of $189.35.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, July 31st. The financial services provider reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.77 by $0.04. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The company had revenue of $3.26 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same quarter last year, the business posted $1.52 EPS. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. Research analysts expect that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Insider Activity

In related news, SVP Douglas Foley sold 1,600 shares of the business’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $175.62, for a total value of $280,992.00. Following the completion of the sale, the senior vice president owned 25,796 shares of the company’s stock, valued at approximately $4,530,293.52. The trade was a 5.84% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Stuart Glen Williams sold 939 shares of the firm’s stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $172.04, for a total transaction of $161,545.56. Following the transaction, the chief operating officer directly owned 16,624 shares in the company, valued at approximately $2,859,992.96. The trade was a 5.35% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 230,874 shares of company stock valued at $42,187,714. 1.00% of the stock is currently owned by company insiders.

About Intercontinental Exchange

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.