Ethos Financial Group LLC Takes $307,000 Position in Intercontinental Exchange Inc. $ICE

Ethos Financial Group LLC bought a new position in Intercontinental Exchange Inc. (NYSE:ICE) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 1,675 shares of the financial services provider’s stock, valued at approximately $307,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Resona Asset Management Co. Ltd. grew its position in Intercontinental Exchange by 4.8% during the second quarter. Resona Asset Management Co. Ltd. now owns 194,066 shares of the financial services provider’s stock valued at $35,552,000 after acquiring an additional 8,937 shares during the last quarter. Atlantic Union Bankshares Corp grew its holdings in shares of Intercontinental Exchange by 434.5% during the 2nd quarter. Atlantic Union Bankshares Corp now owns 20,520 shares of the financial services provider’s stock valued at $3,765,000 after purchasing an additional 16,681 shares during the last quarter. Trillium Asset Management LLC raised its position in Intercontinental Exchange by 12.0% in the 2nd quarter. Trillium Asset Management LLC now owns 272,010 shares of the financial services provider’s stock worth $49,907,000 after purchasing an additional 29,250 shares during the period. Moors & Cabot Inc. raised its position in Intercontinental Exchange by 8.5% in the 2nd quarter. Moors & Cabot Inc. now owns 12,205 shares of the financial services provider’s stock worth $2,239,000 after purchasing an additional 951 shares during the period. Finally, Simmons Bank lifted its stake in Intercontinental Exchange by 0.9% in the second quarter. Simmons Bank now owns 31,843 shares of the financial services provider’s stock worth $5,842,000 after purchasing an additional 275 shares during the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Insider Transactions at Intercontinental Exchange

In other news, SVP Douglas Foley sold 1,600 shares of Intercontinental Exchange stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $175.62, for a total transaction of $280,992.00. Following the sale, the senior vice president owned 25,796 shares of the company’s stock, valued at approximately $4,530,293.52. The trade was a 5.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Judith A. Sprieser sold 2,900 shares of the business’s stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $174.51, for a total transaction of $506,079.00. Following the transaction, the director owned 18,169 shares in the company, valued at $3,170,672.19. This represents a 13.76% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 240,162 shares of company stock worth $43,642,652. 1.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ICE. Keefe, Bruyette & Woods raised Intercontinental Exchange to a “moderate buy” rating in a research note on Monday, October 6th. Weiss Ratings restated a “buy (b)” rating on shares of Intercontinental Exchange in a research report on Wednesday, October 8th. Piper Sandler lifted their price target on Intercontinental Exchange from $180.00 to $202.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 15th. Morgan Stanley dropped their price objective on Intercontinental Exchange from $188.00 to $178.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 21st. Finally, JPMorgan Chase & Co. cut their target price on shares of Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating on the stock in a report on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $191.82.

Intercontinental Exchange Price Performance

ICE opened at $148.93 on Friday. 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. The stock has a market capitalization of $84.92 billion, a PE ratio of 28.59, a price-to-earnings-growth ratio of 2.11 and a beta of 1.06. The stock’s 50 day moving average price is $162.47 and its 200-day moving average price is $173.02.

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, hitting analysts’ consensus estimates of $1.71. The company had revenue of $2.41 billion during the quarter, compared to analyst estimates of $2.49 billion. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.The firm’s revenue was up 2.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.55 earnings per share. On average, equities research analysts predict that Intercontinental Exchange Inc. will post 6.73 EPS for the current 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.