Intercontinental Exchange Inc. $ICE Shares Acquired by Western Wealth Management LLC

Western Wealth Management LLC boosted its position in Intercontinental Exchange Inc. (NYSE:ICE) by 275.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,952 shares of the financial services provider’s stock after purchasing an additional 6,565 shares during the quarter. Western Wealth Management LLC’s holdings in Intercontinental Exchange were worth $1,408,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its stake in Intercontinental Exchange by 51.3% during the 4th quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider’s stock valued at $514,000 after acquiring an additional 1,169 shares in the last quarter. Empowered Funds LLC boosted its holdings in shares of Intercontinental Exchange by 9.0% during the 1st quarter. Empowered Funds LLC now owns 14,396 shares of the financial services provider’s stock worth $2,483,000 after purchasing an additional 1,189 shares during the last quarter. Sivia Capital Partners LLC boosted its holdings in shares of Intercontinental Exchange by 16.2% during the 2nd quarter. Sivia Capital Partners LLC now owns 2,078 shares of the financial services provider’s stock worth $381,000 after purchasing an additional 289 shares during the last quarter. NewEdge Advisors LLC grew its position in shares of Intercontinental Exchange by 27.9% in the second quarter. NewEdge Advisors LLC now owns 21,213 shares of the financial services provider’s stock valued at $3,892,000 after purchasing an additional 4,628 shares in the last quarter. Finally, Treasurer of the State of North Carolina grew its position in shares of Intercontinental Exchange by 2.4% in the second quarter. Treasurer of the State of North Carolina now owns 266,496 shares of the financial services provider’s stock valued at $48,894,000 after purchasing an additional 6,373 shares in the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Douglas Foley sold 7,300 shares of the business’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $148.88, for a total value of $1,086,824.00. Following the sale, the senior vice president owned 19,063 shares in the company, valued at approximately $2,838,099.44. The trade was a 27.69% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William Jefferson Hague sold 1,333 shares of the stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $139.46, for a total value of $185,900.18. Following the transaction, the director directly owned 20,132 shares in the company, valued at approximately $2,807,608.72. The trade was a 6.21% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 16,454 shares of company stock valued at $2,469,349. Insiders own 0.84% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on ICE. Morgan Stanley reduced their price objective on Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating on the stock in a research report on Friday, July 10th. Rothschild & Co Redburn set a $177.00 price target on Intercontinental Exchange in a report on Thursday, June 11th. Weiss Ratings raised shares of Intercontinental Exchange from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, July 28th. Wall Street Zen lowered shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. Finally, The Goldman Sachs Group dropped their price objective on shares of Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Intercontinental Exchange currently has an average rating of “Moderate Buy” and an average target price of $183.33.

Intercontinental Exchange Stock Performance

Shares of ICE stock opened at $151.33 on Thursday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market cap of $84.96 billion, a P/E ratio of 21.37, a P/E/G ratio of 1.49 and a beta of 0.92. The firm’s 50 day moving average price is $140.05 and its 200-day moving average price is $152.37. Intercontinental Exchange Inc. has a one year low of $121.79 and a one year high of $183.65.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, July 30th. The financial services provider reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.06. The firm had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $2.63 billion. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.81 EPS. As a group, equities research analysts predict that Intercontinental Exchange Inc. will post 8.08 EPS for the current year.

About Intercontinental Exchange

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.