Leonard Rickey Investment Advisors P.L.L.C. Purchases Shares of 3,782 Intercontinental Exchange Inc. $ICE

Leonard Rickey Investment Advisors P.L.L.C. acquired a new position in Intercontinental Exchange Inc. (NYSE:ICE) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 3,782 shares of the financial services provider’s stock, valued at approximately $466,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. ICONIQ Capital LLC grew its holdings in shares of Intercontinental Exchange by 2.2% in the second quarter. ICONIQ Capital LLC now owns 2,621 shares of the financial services provider’s stock valued at $481,000 after purchasing an additional 56 shares in the last quarter. Mission Wealth Management LP increased its position in Intercontinental Exchange by 2.4% in the fourth quarter. Mission Wealth Management LP now owns 2,611 shares of the financial services provider’s stock worth $423,000 after purchasing an additional 62 shares during the last quarter. Evergreen Capital Management LLC raised its stake in Intercontinental Exchange by 1.5% during the fourth quarter. Evergreen Capital Management LLC now owns 4,207 shares of the financial services provider’s stock valued at $681,000 after purchasing an additional 63 shares in the last quarter. Sather Financial Group Inc raised its stake in Intercontinental Exchange by 4.7% during the fourth quarter. Sather Financial Group Inc now owns 1,440 shares of the financial services provider’s stock valued at $233,000 after purchasing an additional 64 shares in the last quarter. Finally, Johnson Financial Group LLC lifted its position in Intercontinental Exchange by 4.0% during the fourth quarter. Johnson Financial Group LLC now owns 1,710 shares of the financial services provider’s stock valued at $277,000 after purchasing an additional 65 shares during the last quarter. 89.30% of the stock is currently owned by institutional investors.

Intercontinental Exchange Stock Up 2.7%

NYSE:ICE opened at $155.34 on Friday. The company has a market cap of $87.21 billion, a price-to-earnings ratio of 21.94, a price-to-earnings-growth ratio of 1.49 and a beta of 0.92. Intercontinental Exchange Inc. has a twelve month low of $121.79 and a twelve month high of $183.13. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63. The stock has a fifty day simple moving average of $140.32 and a 200-day simple moving average of $152.25.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.84 by $0.06. The firm had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $2.63 billion. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The business’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.81 earnings per share. Analysts anticipate that Intercontinental Exchange Inc. will post 8.08 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. TD Cowen reissued a “buy” rating and issued a $177.00 price objective (up from $159.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. UBS Group restated a “buy” rating and set a $195.00 target price (up from $190.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. Wall Street Zen downgraded shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. The Goldman Sachs Group reduced their price objective on Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. Finally, Piper Sandler decreased their price objective on Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $183.33.

Insider Buying and Selling

In other news, Director William Jefferson Hague sold 1,333 shares of Intercontinental Exchange stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $139.46, for a total transaction of $185,900.18. Following the completion of the sale, the director owned 20,132 shares of the company’s stock, valued at approximately $2,807,608.72. The trade was a 6.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Sharon Bowen sold 667 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $151.28, for a total value of $100,903.76. Following the completion of the sale, the director owned 15,077 shares of the company’s stock, valued at $2,280,848.56. The trade was a 4.24% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 16,454 shares of company stock worth $2,469,349 over the last 90 days. Corporate insiders own 0.84% of the company’s stock.

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.