TRB Wealth Management LLC Acquires Shares of 4,707 Intercontinental Exchange Inc. $ICE

TRB Wealth Management LLC bought a new stake in Intercontinental Exchange Inc. (NYSE:ICE) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 4,707 shares of the financial services provider’s stock, valued at approximately $579,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in ICE. Brighton Jones LLC lifted its stake 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 valued at $514,000 after acquiring an additional 1,169 shares during the period. Empowered Funds LLC increased its position in Intercontinental Exchange by 9.0% in the first 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 period. Sivia Capital Partners LLC increased its position in Intercontinental Exchange by 16.2% in the second 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 period. NewEdge Advisors LLC raised its holdings 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 worth $3,892,000 after purchasing an additional 4,628 shares during the last quarter. Finally, Treasurer of the State of North Carolina raised its holdings in Intercontinental Exchange by 2.4% during the 2nd 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 purchasing an additional 6,373 shares during the last quarter. 89.30% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ICE. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $178.00 target price on shares of Intercontinental Exchange in a research note on Friday, July 31st. The Goldman Sachs Group dropped their price target on shares of Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating for the company in a research note on Tuesday, June 30th. Piper Sandler cut their price objective on shares of Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating on the stock in a report on Wednesday, July 15th. UBS Group reaffirmed a “buy” rating and issued a $195.00 price objective (up from $190.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. Finally, Weiss Ratings lowered shares of Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $183.33.

Insider Buying and Selling at Intercontinental Exchange

In related news, CTO Mayur Kapani sold 4,271 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $151.20, for a total transaction of $645,775.20. Following the transaction, the chief technology officer owned 67,988 shares of the company’s stock, valued at $10,279,785.60. This trade represents a 5.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Warren Gardiner sold 2,491 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $156.30, for a total transaction of $389,343.30. Following the transaction, the chief financial officer owned 22,698 shares of the company’s stock, valued at approximately $3,547,697.40. This represents a 9.89% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 20,200 shares of company stock worth $3,035,385 over the last ninety days. 0.84% of the stock is owned by corporate insiders.

Intercontinental Exchange Trading Up 1.7%

NYSE:ICE opened at $161.29 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63. Intercontinental Exchange Inc. has a 1-year low of $121.79 and a 1-year high of $181.65. The firm has a market capitalization of $90.55 billion, a price-to-earnings ratio of 22.78, a PEG ratio of 1.56 and a beta of 0.92. The business’s 50-day moving average price is $142.34 and its two-hundred day moving average price is $151.69.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, July 30th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.06. The company had revenue of $3.61 billion during the quarter, compared to analyst estimates of $2.63 billion. Intercontinental Exchange had a return on equity of 14.95% and a net margin of 30.08%.The company’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.81 EPS. On average, equities analysts expect that Intercontinental Exchange Inc. will post 8.11 earnings per share for the current 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.