PFG Investments LLC Has $1.12 Million Stake in Intercontinental Exchange Inc. $ICE

PFG Investments LLC raised its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 11.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,109 shares of the financial services provider’s stock after acquiring an additional 620 shares during the quarter. PFG Investments LLC’s holdings in Intercontinental Exchange were worth $1,121,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Tsfg LLC boosted its position in shares of Intercontinental Exchange by 187.3% during the 1st quarter. Tsfg LLC now owns 158 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 103 shares in the last quarter. Activest Wealth Management boosted its holdings in shares of Intercontinental Exchange by 4,050.0% during the 1st quarter. Activest Wealth Management now owns 166 shares of the financial services provider’s stock worth $29,000 after buying an additional 162 shares in the last quarter. Rakuten Securities Inc. boosted its holdings in shares of Intercontinental Exchange by 595.8% during the 1st quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider’s stock worth $29,000 after buying an additional 143 shares in the last quarter. McClarren Financial Advisors Inc. acquired a new stake in shares of Intercontinental Exchange during the 1st quarter worth approximately $30,000. Finally, Global Trust Asset Management LLC bought a new stake in shares of Intercontinental Exchange in the 1st quarter valued at $31,000. 89.30% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on ICE shares. Morgan Stanley reduced their price target on shares of Intercontinental Exchange from $192.00 to $188.00 and set an “equal weight” rating for the company in a report on Wednesday. Barclays raised their target price on Intercontinental Exchange from $206.00 to $212.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. JPMorgan Chase & Co. boosted their target price on Intercontinental Exchange from $195.00 to $203.00 and gave the company an “overweight” rating in a research report on Thursday, September 25th. Piper Sandler increased their price target on Intercontinental Exchange from $180.00 to $202.00 and gave the stock an “overweight” rating in a report on Tuesday, July 15th. Finally, UBS Group boosted 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. Eight investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $198.20.

Intercontinental Exchange Stock Performance

Shares of ICE opened at $160.85 on Friday. The firm has a market capitalization of $92.07 billion, a P/E ratio of 30.87, a P/E/G ratio of 1.95 and a beta of 1.08. Intercontinental Exchange Inc. has a 52 week low of $142.29 and a 52 week high of $189.35. The stock has a 50 day moving average price of $176.97 and a two-hundred day moving average price of $174.74. 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 (NYSE:ICE) last announced its earnings results on Thursday, July 31st. The financial services provider reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.77 by $0.04. The company had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $2.50 billion. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.Intercontinental Exchange’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.52 earnings per share. Equities analysts forecast that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Insider Transactions at Intercontinental Exchange

In other news, Director Duriya M. Farooqui sold 2,036 shares of the stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $178.34, for a total value of $363,100.24. Following the completion of the sale, the director owned 14,299 shares in the company, valued at $2,550,083.66. This represents a 12.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Stuart Glen Williams sold 939 shares of the company’s stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $172.04, for a total transaction of $161,545.56. Following the completion of the sale, the chief operating officer directly owned 16,624 shares of the company’s stock, valued at $2,859,992.96. The trade was a 5.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 230,874 shares of company stock worth $42,187,714. 1.00% of the stock is owned by 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.