Amanah Holdings Trust Purchases Shares of 148,385 Intercontinental Exchange Inc. $ICE

Amanah Holdings Trust purchased a new stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 148,385 shares of the financial services provider’s stock, valued at approximately $27,218,000. Intercontinental Exchange makes up about 6.8% of Amanah Holdings Trust’s investment portfolio, making the stock its 9th biggest position.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. RB Capital Management LLC raised its position in shares of Intercontinental Exchange by 1.3% during the second quarter. RB Capital Management LLC now owns 4,584 shares of the financial services provider’s stock valued at $841,000 after buying an additional 59 shares during the last quarter. Fielder Capital Group LLC increased its position in Intercontinental Exchange by 2.2% in the first quarter. Fielder Capital Group LLC now owns 2,808 shares of the financial services provider’s stock worth $484,000 after purchasing an additional 61 shares during the last quarter. E Fund Management Co. Ltd. increased its position in Intercontinental Exchange by 4.2% in the first quarter. E Fund Management Co. Ltd. now owns 1,500 shares of the financial services provider’s stock worth $259,000 after purchasing an additional 61 shares during the last quarter. Berkeley Capital Partners LLC increased its position in Intercontinental Exchange by 1.1% in the first quarter. Berkeley Capital Partners LLC now owns 5,639 shares of the financial services provider’s stock worth $973,000 after purchasing an additional 62 shares during the last quarter. Finally, GPS Wealth Strategies Group LLC increased its position in Intercontinental Exchange by 17.2% in the first quarter. GPS Wealth Strategies Group LLC now owns 430 shares of the financial services provider’s stock worth $74,000 after purchasing an additional 63 shares during the last quarter. Institutional investors own 89.30% of the company’s stock.

Insiders Place Their Bets

In other news, Director Duriya M. Farooqui sold 2,036 shares of the company’s stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $178.34, for a total transaction of $363,100.24. Following the transaction, the director owned 14,299 shares in the company, valued at $2,550,083.66. This represents a 12.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 3,850 shares of the company’s stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $178.33, for a total transaction of $686,570.50. Following the transaction, the general counsel owned 46,293 shares in the company, valued at approximately $8,255,430.69. This trade represents a 7.68% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 230,730 shares of company stock valued at $42,171,892 in the last three months. 1.00% of the stock is currently owned by insiders.

Intercontinental Exchange Stock Down 1.2%

NYSE:ICE opened at $174.02 on Monday. Intercontinental Exchange Inc. has a 1-year low of $142.29 and a 1-year high of $189.35. The company has a 50-day moving average of $180.62 and a 200 day moving average of $175.02. The firm has a market cap of $99.61 billion, a PE ratio of 33.40, a price-to-earnings-growth ratio of 2.07 and a beta of 1.10. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, July 31st. The financial services provider reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.77 by $0.04. The business had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $2.50 billion. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The firm’s revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.52 earnings per share. As a group, research analysts anticipate that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on ICE shares. UBS Group boosted their price target on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the stock a “buy” rating in a research report on Tuesday, July 8th. Barclays lifted their price objective on shares of Intercontinental Exchange from $206.00 to $212.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Finally, Piper Sandler lifted their price objective on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 15th. Ten research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Intercontinental Exchange currently has an average rating of “Moderate Buy” and an average price target of $194.92.

About Intercontinental Exchange

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.