Whalen Wealth Management Inc. Buys New Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

Whalen Wealth Management Inc. purchased a new stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 3,026 shares of the financial services provider’s stock, valued at approximately $451,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Janus Henderson Group PLC grew its position in shares of Intercontinental Exchange by 326.3% in the third quarter. Janus Henderson Group PLC now owns 4,520,639 shares of the financial services provider’s stock valued at $726,196,000 after purchasing an additional 3,460,096 shares during the last quarter. FMR LLC increased its holdings in Intercontinental Exchange by 44.1% during the 3rd quarter. FMR LLC now owns 7,846,421 shares of the financial services provider’s stock valued at $1,260,449,000 after purchasing an additional 2,401,630 shares in the last quarter. Two Sigma Advisers LP lifted its position in shares of Intercontinental Exchange by 285.9% during the third quarter. Two Sigma Advisers LP now owns 1,756,400 shares of the financial services provider’s stock worth $282,148,000 after purchasing an additional 1,301,200 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in Intercontinental Exchange by 426.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 721,474 shares of the financial services provider’s stock valued at $115,898,000 after purchasing an additional 584,400 shares during the period. Finally, Franklin Resources Inc. boosted its position in shares of Intercontinental Exchange by 8.0% in the 3rd quarter. Franklin Resources Inc. now owns 5,265,020 shares of the financial services provider’s stock worth $865,455,000 after purchasing an additional 390,332 shares during the last quarter. 89.30% of the stock is currently owned by institutional investors.

Intercontinental Exchange Trading Up 1.6 %

Shares of ICE opened at $154.11 on Thursday. The firm has a 50 day moving average price of $152.92 and a 200-day moving average price of $155.85. Intercontinental Exchange, Inc. has a fifty-two week low of $124.34 and a fifty-two week high of $167.99. The firm has a market cap of $88.48 billion, a price-to-earnings ratio of 36.52, a PEG ratio of 2.90 and a beta of 1.10. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.00 and a current ratio of 1.00.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, October 31st. The financial services provider reported $1.55 EPS for the quarter, hitting the consensus estimate of $1.55. The business had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.35 billion. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. Intercontinental Exchange’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same period last year, the business posted $1.46 earnings per share. As a group, equities research analysts forecast that Intercontinental Exchange, Inc. will post 6.05 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on ICE shares. Piper Sandler lifted their price target on Intercontinental Exchange from $170.00 to $180.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Keefe, Bruyette & Woods decreased their target price on Intercontinental Exchange from $183.00 to $178.00 and set an “outperform” rating on the stock in a report on Monday, January 13th. StockNews.com downgraded shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Wednesday, January 8th. Morgan Stanley raised their target price on shares of Intercontinental Exchange from $160.00 to $174.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price objective on shares of Intercontinental Exchange in a research note on Tuesday, January 7th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $175.27.

Insider Activity

In related news, COO Stuart Glen Williams sold 750 shares of the company’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $152.99, for a total transaction of $114,742.50. Following the sale, the chief operating officer now owns 12,780 shares of the company’s stock, valued at $1,955,212.20. This represents a 5.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Benjamin Jackson sold 5,828 shares of Intercontinental Exchange stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $160.00, for a total value of $932,480.00. Following the completion of the transaction, the president now owns 156,163 shares of the company’s stock, valued at approximately $24,986,080. This trade represents a 3.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 13,795 shares of company stock valued at $2,120,572 over the last ninety days. 1.10% of the stock is currently owned by corporate insiders.

Intercontinental Exchange Company Profile

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.