Parr Mcknight Wealth Management Group LLC Takes $2.12 Million Position in Intercontinental Exchange Inc. $ICE

Parr Mcknight Wealth Management Group LLC purchased a new position in shares of Intercontinental Exchange Inc. (NYSE:ICE) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 12,580 shares of the financial services provider’s stock, valued at approximately $2,119,000.

A number of other large investors have also recently added to or reduced their stakes in ICE. Westside Investment Management Inc. purchased a new position in Intercontinental Exchange during the 2nd quarter valued at about $29,000. Knuff & Co LLC grew its position in shares of Intercontinental Exchange by 73.3% in the second quarter. Knuff & Co LLC now owns 175 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 74 shares during the last quarter. Private Wealth Management Group LLC increased its stake in shares of Intercontinental Exchange by 59.5% during the 3rd quarter. Private Wealth Management Group LLC now owns 177 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 66 shares in the last quarter. Capital A Wealth Management LLC raised its position in shares of Intercontinental Exchange by 26,000.0% during the 2nd quarter. Capital A Wealth Management LLC now owns 261 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 260 shares during the last quarter. Finally, NewSquare Capital LLC raised its position in shares of Intercontinental Exchange by 32.0% during the 2nd quarter. NewSquare Capital LLC now owns 272 shares of the financial services provider’s stock worth $50,000 after purchasing an additional 66 shares during the last quarter. 89.30% of the stock is owned by institutional investors and hedge funds.

Intercontinental Exchange Stock Performance

NYSE:ICE opened at $153.93 on Tuesday. Intercontinental Exchange Inc. has a fifty-two week low of $143.17 and a fifty-two week high of $189.35. The firm’s 50 day moving average is $164.43 and its two-hundred day moving average is $163.97. The company has a market cap of $87.42 billion, a P/E ratio of 26.68, a P/E/G ratio of 1.60 and a beta of 1.02. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.64.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, February 5th. The financial services provider reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.67 by $0.04. Intercontinental Exchange had a return on equity of 13.99% and a net margin of 26.23%.The business had revenue of $3.14 billion for the quarter, compared to analyst estimates of $2.51 billion. During the same period last year, the company posted $1.52 EPS. The business’s quarterly revenue was up 7.8% on a year-over-year basis. Analysts expect that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Wednesday, December 16th will be issued a dividend of $0.52 per share. The ex-dividend date is Wednesday, December 16th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.4%. Intercontinental Exchange’s payout ratio is presently 33.28%.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, CFO Warren Gardiner sold 2,490 shares of the business’s stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $154.00, for a total transaction of $383,460.00. Following the completion of the sale, the chief financial officer directly owned 27,679 shares in the company, valued at $4,262,566. The trade was a 8.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the firm’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $155.00, for a total transaction of $23,250,000.00. Following the completion of the transaction, the chief executive officer directly owned 1,651,705 shares in the company, valued at approximately $256,014,275. This represents a 8.33% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 341,036 shares of company stock worth $53,068,762. Company insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ICE. Royal Bank Of Canada reiterated an “outperform” rating and set a $180.00 target price on shares of Intercontinental Exchange in a report on Tuesday, January 6th. Piper Sandler restated an “overweight” rating and issued a $195.00 price objective (down from $202.00) on shares of Intercontinental Exchange in a research report on Wednesday, January 14th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Intercontinental Exchange in a research report on Monday, December 29th. UBS Group reissued a “buy” rating and issued a $200.00 target price on shares of Intercontinental Exchange in a research note on Monday, February 9th. Finally, Morgan Stanley set a $183.00 price target on shares of Intercontinental Exchange and gave the stock an “equal weight” rating in a research note on Tuesday, February 10th. One research 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 company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $195.40.

Intercontinental Exchange Profile

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.