Iowa State Bank Acquires 185 Shares of Intercontinental Exchange Inc. $ICE

Iowa State Bank lifted its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 0.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,094 shares of the financial services provider’s stock after purchasing an additional 185 shares during the period. Iowa State Bank’s holdings in Intercontinental Exchange were worth $4,604,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Belpointe Asset Management LLC increased its position in shares of Intercontinental Exchange by 1.4% during the second quarter. Belpointe Asset Management LLC now owns 11,518 shares of the financial services provider’s stock worth $2,113,000 after acquiring an additional 157 shares during the period. Confluence Wealth Services Inc. increased its holdings in Intercontinental Exchange by 1.0% during the 2nd quarter. Confluence Wealth Services Inc. now owns 6,113 shares of the financial services provider’s stock worth $1,121,000 after purchasing an additional 62 shares during the period. Appleton Partners Inc. MA raised its position in Intercontinental Exchange by 0.6% during the 2nd quarter. Appleton Partners Inc. MA now owns 96,884 shares of the financial services provider’s stock valued at $17,775,000 after purchasing an additional 600 shares in the last quarter. Running Oak Capital LLC lifted its holdings in shares of Intercontinental Exchange by 1.1% in the 2nd quarter. Running Oak Capital LLC now owns 96,530 shares of the financial services provider’s stock worth $17,710,000 after buying an additional 1,016 shares during the period. Finally, Three Bridge Wealth Advisors LLC bought a new position in shares of Intercontinental Exchange during the 2nd quarter worth $344,000. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Performance

Shares of ICE opened at $162.47 on Monday. The stock has a 50-day moving average of $176.53 and a two-hundred day moving average of $174.67. The stock has a market cap of $93.00 billion, a P/E ratio of 31.18, a P/E/G 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. Intercontinental Exchange Inc. has a one year low of $142.29 and a one year high of $189.35.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, July 31st. The financial services provider reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.77 by $0.04. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.The company had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same period last year, the firm earned $1.52 EPS. The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. As a group, research analysts predict that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Wall Street Analyst Weigh In

ICE has been the subject of several recent research reports. UBS Group lifted their price objective on Intercontinental Exchange from $195.00 to $210.00 and gave the company a “buy” rating in a report on Tuesday, July 8th. Barclays boosted their price target on shares of Intercontinental Exchange from $206.00 to $212.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Piper Sandler increased their price objective on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the company an “overweight” rating in a research note on Tuesday, July 15th. Morgan Stanley reduced their price objective on shares of Intercontinental Exchange from $192.00 to $188.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 1st. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Intercontinental Exchange in a report on Saturday, September 27th. Nine equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $198.20.

Insider Transactions at Intercontinental Exchange

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 transaction of $280,992.00. Following the completion of the sale, the senior vice president directly owned 25,796 shares in the company, valued at approximately $4,530,293.52. The trade was a 5.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $183.09, for a total transaction of $27,463,500.00. Following the completion of the sale, the chief executive officer owned 1,951,705 shares of the company’s stock, valued at $357,337,668.45. This trade represents a 7.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 230,874 shares of company stock worth $42,187,714 in the last three months. 1.00% of the stock is owned by corporate insiders.

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.