Accretive Wealth Partners LLC Has $1.44 Million Stock Position in Intercontinental Exchange Inc. $ICE

Accretive Wealth Partners LLC raised its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 0.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,870 shares of the financial services provider’s stock after buying an additional 72 shares during the quarter. Accretive Wealth Partners LLC’s holdings in Intercontinental Exchange were worth $1,444,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of ICE. Tsfg LLC grew its position in shares of Intercontinental Exchange by 187.3% during the 1st quarter. Tsfg LLC now owns 158 shares of the financial services provider’s stock worth $27,000 after buying an additional 103 shares during the period. Activest Wealth Management grew its position in shares of Intercontinental Exchange by 4,050.0% during the 1st quarter. Activest Wealth Management now owns 166 shares of the financial services provider’s stock worth $29,000 after buying an additional 162 shares during the period. McClarren Financial Advisors Inc. acquired a new position in shares of Intercontinental Exchange during the 1st quarter worth about $30,000. Hilltop National Bank acquired a new position in shares of Intercontinental Exchange during the 2nd quarter worth about $31,000. Finally, Accredited Wealth Management LLC acquired a new position in shares of Intercontinental Exchange during the 1st quarter worth about $33,000. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Intercontinental Exchange

In other news, Director Duriya M. Farooqui sold 2,036 shares of the company’s stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $178.34, for a total transaction of $363,100.24. Following the sale, the director owned 14,299 shares in the company, valued at $2,550,083.66. This represents a 12.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Judith A. Sprieser sold 2,900 shares of the company’s stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $174.51, for a total value of $506,079.00. Following the sale, the director owned 18,169 shares in the company, valued at approximately $3,170,672.19. This represents a 13.76% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 240,956 shares of company stock worth $43,789,542. Corporate insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. boosted their target price on Intercontinental Exchange from $195.00 to $203.00 and gave the stock an “overweight” rating in a research report on Thursday, September 25th. Raymond James Financial upgraded Intercontinental Exchange from an “outperform” rating to a “strong-buy” rating and set a $210.00 price objective on the stock in a report on Monday, October 13th. Weiss Ratings reiterated a “buy (b)” rating on shares of Intercontinental Exchange in a report on Wednesday, October 8th. Morgan Stanley cut their price objective on Intercontinental Exchange from $192.00 to $188.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 1st. Finally, Barclays reiterated an “overweight” rating and set a $201.00 price objective (down previously from $212.00) on shares of Intercontinental Exchange in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $199.60.

Intercontinental Exchange Trading Up 0.1%

NYSE ICE opened at $153.52 on Monday. The stock has a market capitalization of $87.88 billion, a price-to-earnings ratio of 29.47, a PEG ratio of 2.14 and a beta of 1.08. The stock’s 50 day moving average price is $170.86 and its two-hundred day moving average price is $173.58. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.01. Intercontinental Exchange Inc. has a 52 week low of $142.29 and a 52 week high of $189.35.

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

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.