Crestwood Advisors Group LLC Raises Stock Holdings in Intercontinental Exchange Inc. $ICE

Crestwood Advisors Group LLC grew its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 9.8% during the second quarter, Holdings Channel reports. The firm owned 13,628 shares of the financial services provider’s stock after purchasing an additional 1,219 shares during the quarter. Crestwood Advisors Group LLC’s holdings in Intercontinental Exchange were worth $2,500,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Princeton Global Asset Management LLC purchased a new stake in Intercontinental Exchange during the second quarter worth about $28,000. Activest Wealth Management increased its stake in Intercontinental Exchange by 4,050.0% during the first quarter. Activest Wealth Management now owns 166 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 162 shares during the period. Westside Investment Management Inc. purchased a new stake in Intercontinental Exchange during the second quarter worth about $29,000. McClarren Financial Advisors Inc. purchased a new stake in Intercontinental Exchange during the first quarter worth about $30,000. Finally, Hilltop National Bank purchased a new stake in Intercontinental Exchange during the second quarter worth about $31,000. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ICE. TD Cowen cut their price target on shares of Intercontinental Exchange from $199.00 to $175.00 and set a “buy” rating on the stock in a research note on Friday, October 31st. Morgan Stanley cut their price target on shares of Intercontinental Exchange from $188.00 to $178.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 21st. UBS Group cut their target price on shares of Intercontinental Exchange from $215.00 to $200.00 and set a “buy” rating on the stock in a research note on Friday, October 31st. Piper Sandler upped their target price 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. Finally, Barclays set a $183.00 target price on shares of Intercontinental Exchange and gave the stock an “overweight” rating in a research note on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $191.82.

Insider Buying and Selling

In other Intercontinental Exchange news, Director Judith A. Sprieser sold 2,900 shares of the stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $174.51, for a total value of $506,079.00. Following the transaction, the director directly owned 18,169 shares in the company, valued at $3,170,672.19. This represents a 13.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $183.09, for a total transaction of $27,463,500.00. Following the completion of the transaction, the chief executive officer owned 1,951,705 shares in the company, valued at $357,337,668.45. This represents a 7.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 240,162 shares of company stock valued at $43,642,652 over the last three months. 1.00% of the stock is currently owned by insiders.

Intercontinental Exchange Stock Down 0.4%

ICE stock opened at $146.38 on Thursday. The company’s 50 day moving average price is $163.62 and its 200 day moving average price is $173.25. 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 fifty-two week low of $142.29 and a fifty-two week high of $189.35. The firm has a market capitalization of $83.79 billion, a price-to-earnings ratio of 28.10, a PEG ratio of 2.11 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, October 30th. The financial services provider reported $1.71 EPS for the quarter, meeting the consensus estimate of $1.71. The company had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.49 billion. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The firm’s revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.55 earnings per share. On average, equities research analysts anticipate that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

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.