King Luther Capital Management Corp Boosts Holdings in Intercontinental Exchange Inc. $ICE

King Luther Capital Management Corp raised its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 19.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 294,112 shares of the financial services provider’s stock after purchasing an additional 48,344 shares during the period. King Luther Capital Management Corp’s holdings in Intercontinental Exchange were worth $53,961,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ICE. Optivise Advisory Services LLC raised its position in shares of Intercontinental Exchange by 3.1% during the 2nd quarter. Optivise Advisory Services LLC now owns 1,794 shares of the financial services provider’s stock worth $329,000 after purchasing an additional 54 shares during the last quarter. Tritonpoint Wealth LLC grew its holdings in Intercontinental Exchange by 1.4% during the 2nd quarter. Tritonpoint Wealth LLC now owns 4,347 shares of the financial services provider’s stock valued at $798,000 after buying an additional 58 shares during the last quarter. RB Capital Management LLC increased its position in Intercontinental Exchange by 1.3% during the second quarter. RB Capital Management LLC now owns 4,584 shares of the financial services provider’s stock worth $841,000 after buying an additional 59 shares in the last quarter. Chemistry Wealth Management LLC raised its holdings in shares of Intercontinental Exchange by 0.8% in the second quarter. Chemistry Wealth Management LLC now owns 7,847 shares of the financial services provider’s stock worth $1,440,000 after acquiring an additional 60 shares during the last quarter. Finally, Institute for Wealth Management LLC. raised its holdings in shares of Intercontinental Exchange by 1.9% in the second quarter. Institute for Wealth Management LLC. now owns 3,255 shares of the financial services provider’s stock worth $597,000 after acquiring an additional 60 shares during the last quarter. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on ICE shares. Keefe, Bruyette & Woods raised shares of Intercontinental Exchange to a “moderate buy” rating in a research note on Monday, October 6th. Raymond James Financial upgraded shares of Intercontinental Exchange from an “outperform” rating to a “strong-buy” rating and set a $210.00 price target for the company in a report on Monday, October 13th. JPMorgan Chase & Co. reduced their price objective on shares of Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating on the stock in a research note on Friday, October 31st. Piper Sandler raised their target price on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 15th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Intercontinental Exchange in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $191.82.

Intercontinental Exchange Price Performance

Intercontinental Exchange stock opened at $148.93 on Friday. Intercontinental Exchange Inc. has a 1 year low of $142.29 and a 1 year high of $189.35. The firm has a 50 day moving average price of $162.47 and a 200 day moving average price of $173.11. The company has a market cap of $84.92 billion, a price-to-earnings ratio of 28.59, a PEG ratio of 2.11 and a beta of 1.06. 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 posted its quarterly earnings results on Thursday, October 30th. The financial services provider reported $1.71 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.71. The company had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $2.49 billion. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. Intercontinental Exchange’s revenue was up 2.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.55 earnings per share. Sell-side analysts predict that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Insider Buying and Selling at Intercontinental Exchange

In other news, SVP Douglas Foley sold 1,600 shares of the firm’s stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $175.62, for a total value of $280,992.00. Following the transaction, the senior vice president directly owned 25,796 shares in the company, valued at $4,530,293.52. This trade represents a 5.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Stuart Glen Williams sold 939 shares of Intercontinental Exchange stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $172.04, for a total value of $161,545.56. Following the completion of the transaction, the chief operating officer directly owned 16,624 shares in the company, valued at $2,859,992.96. This represents a 5.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 240,162 shares of company stock worth $43,642,652. 1.00% of the stock is currently owned by company insiders.

Intercontinental Exchange 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.