Demars Financial Group LLC Has $1.52 Million Stock Holdings in Intercontinental Exchange Inc. $ICE

Demars Financial Group LLC boosted its position in Intercontinental Exchange Inc. (NYSE:ICE) by 168.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,670 shares of the financial services provider’s stock after buying an additional 6,074 shares during the period. Intercontinental Exchange makes up approximately 0.5% of Demars Financial Group LLC’s portfolio, making the stock its 26th biggest position. Demars Financial Group LLC’s holdings in Intercontinental Exchange were worth $1,521,000 at the end of the most recent reporting period.

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

Insider Activity

In related news, Director Sharon Bowen sold 667 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $151.28, for a total transaction of $100,903.76. Following the completion of the sale, the director directly owned 15,077 shares of the company’s stock, valued at approximately $2,280,848.56. This trade represents a 4.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Andrew J. Surdykowski sold 4,573 shares of Intercontinental Exchange stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $151.56, for a total value of $693,083.88. Following the sale, the general counsel owned 45,473 shares in the company, valued at $6,891,887.88. This trade represents a 9.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 13,425 shares of company stock worth $2,046,324. Corporate insiders own 0.84% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. The Goldman Sachs Group reduced 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. TD Cowen cut their price target on Intercontinental Exchange from $193.00 to $153.00 and set a “buy” rating for the company in a research note on Monday, June 22nd. Keefe, Bruyette & Woods initiated coverage on Intercontinental Exchange in a report on Wednesday, April 8th. They set an “outperform” rating and a $190.00 price objective for the company. Piper Sandler restated an “overweight” rating and issued a $211.00 target price (up from $195.00) on shares of Intercontinental Exchange in a report on Wednesday, April 15th. Finally, Rothschild & Co Redburn set a $177.00 target price on Intercontinental Exchange in a research report on Thursday, June 11th. One research 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 company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $187.08.

Intercontinental Exchange Stock Up 0.5%

ICE opened at $137.10 on Thursday. Intercontinental Exchange Inc. has a fifty-two week low of $121.79 and a fifty-two week high of $189.35. The firm has a market capitalization of $77.53 billion, a P/E ratio of 19.96, a PEG ratio of 1.28 and a beta of 0.94. The company’s 50-day moving average is $143.33 and its 200 day moving average is $155.91. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, April 30th. The financial services provider reported $2.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.23 by $0.12. The business had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $2.88 billion. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The firm’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.72 EPS. Research analysts expect that Intercontinental Exchange Inc. will post 8.35 earnings per share for the current fiscal year.

Intercontinental Exchange Company 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.