Rede Wealth LLC Takes $219,000 Position in Intercontinental Exchange, Inc. (NYSE:ICE)

by · The Markets Daily

Rede Wealth LLC bought a new stake in Intercontinental Exchange, Inc. (NYSE:ICE – Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,363 shares of the financial services provider’s stock, valued at approximately $219,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Annapolis Financial Services LLC lifted its position in shares of Intercontinental Exchange by 1,018.8% in the first quarter. Annapolis Financial Services LLC now owns 179 shares of the financial services provider’s stock valued at $25,000 after buying an additional 163 shares during the last quarter. New Millennium Group LLC bought a new stake in Intercontinental Exchange in the 2nd quarter valued at $25,000. International Assets Investment Management LLC acquired a new stake in Intercontinental Exchange during the 2nd quarter valued at $25,000. Fairscale Capital LLC acquired a new stake in Intercontinental Exchange during the 2nd quarter valued at $25,000. Finally, Wolff Wiese Magana LLC boosted its position in Intercontinental Exchange by 1,470.0% during the third quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 147 shares during the period. 89.30% of the stock is owned by institutional investors.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the business’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $159.57, for a total transaction of $326,799.36. Following the completion of the transaction, the general counsel now owns 44,865 shares of the company’s stock, valued at approximately $7,159,108.05. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO James W. Namkung sold 1,043 shares of the business’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $150.00, for a total transaction of $156,450.00. Following the sale, the chief accounting officer now owns 17,836 shares in the company, valued at $2,675,400. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 2,048 shares of the stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $159.57, for a total value of $326,799.36. Following the completion of the transaction, the general counsel now owns 44,865 shares of the company’s stock, valued at $7,159,108.05. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 8,532 shares of company stock valued at $1,358,709 over the last ninety days. 1.10% of the stock is owned by corporate insiders.

Intercontinental Exchange Price Performance

Shares of NYSE:ICE traded up $2.02 during midday trading on Friday, hitting $166.83. The stock had a trading volume of 2,310,759 shares, compared to its average volume of 2,482,702. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $95.69 billion, a P/E ratio of 38.26, a price-to-earnings-growth ratio of 2.62 and a beta of 1.08. The company’s 50-day moving average price is $160.55 and its 200-day moving average price is $146.26. Intercontinental Exchange, Inc. has a fifty-two week low of $104.49 and a fifty-two week high of $167.23.

Intercontinental Exchange (NYSE:ICE – Get Free Report) last announced its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.52 EPS for the quarter, beating the consensus estimate of $1.49 by $0.03. Intercontinental Exchange had a net margin of 21.43% and a return on equity of 12.70%. The business had revenue of $2.32 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same period in the previous year, the business earned $1.43 earnings per share. The company’s revenue was up 22.7% on a year-over-year basis. As a group, equities research analysts predict that Intercontinental Exchange, Inc. will post 6.08 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ICE has been the subject of a number of research reports. JPMorgan Chase & Co. raised their target price on shares of Intercontinental Exchange from $151.00 to $171.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Barclays raised their price objective on shares of Intercontinental Exchange from $167.00 to $179.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $168.00 target price on shares of Intercontinental Exchange in a research report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft lifted their price target on Intercontinental Exchange from $152.00 to $154.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. Finally, StockNews.com raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Thursday, October 3rd. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $172.80.

Check Out Our Latest Research Report on ICE

Intercontinental Exchange Company Profile

(Free Report)

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.

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