4,655 Shares in Intercontinental Exchange Inc. $ICE Purchased by Tranquilli Financial Advisor LLC

Tranquilli Financial Advisor LLC acquired a new position in Intercontinental Exchange Inc. (NYSE:ICE) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 4,655 shares of the financial services provider’s stock, valued at approximately $573,000.

Several other hedge funds have also recently modified their holdings of the company. Brighton Jones LLC lifted its holdings in Intercontinental Exchange by 51.3% during the fourth quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider’s stock worth $514,000 after acquiring an additional 1,169 shares during the period. Empowered Funds LLC grew its stake in Intercontinental Exchange by 9.0% in the 1st quarter. Empowered Funds LLC now owns 14,396 shares of the financial services provider’s stock valued at $2,483,000 after purchasing an additional 1,189 shares during the period. Sivia Capital Partners LLC increased its position in shares of Intercontinental Exchange by 16.2% during the 2nd quarter. Sivia Capital Partners LLC now owns 2,078 shares of the financial services provider’s stock valued at $381,000 after purchasing an additional 289 shares during the last quarter. NewEdge Advisors LLC increased its position in shares of Intercontinental Exchange by 27.9% during the 2nd quarter. NewEdge Advisors LLC now owns 21,213 shares of the financial services provider’s stock valued at $3,892,000 after purchasing an additional 4,628 shares during the last quarter. Finally, Treasurer of the State of North Carolina raised its stake in shares of Intercontinental Exchange by 2.4% during the 2nd quarter. Treasurer of the State of North Carolina now owns 266,496 shares of the financial services provider’s stock worth $48,894,000 after purchasing an additional 6,373 shares during the period. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Trading Down 1.1%

Shares of ICE opened at $157.87 on Thursday. The business has a 50-day moving average of $146.56 and a 200 day moving average of $151.46. Intercontinental Exchange Inc. has a fifty-two week low of $121.79 and a fifty-two week high of $176.59. The firm has a market cap of $88.63 billion, a P/E ratio of 22.30, a price-to-earnings-growth ratio of 1.55 and a beta of 0.93. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.90 EPS for the quarter, beating the consensus estimate of $1.84 by $0.06. The business had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $2.63 billion. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The company’s revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.81 earnings per share. As a group, research analysts forecast that Intercontinental Exchange Inc. will post 8.1 EPS for the current year.

Insider Buying and Selling

In related news, SVP Douglas Foley sold 1,600 shares of the company’s stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $160.00, for a total transaction of $256,000.00. Following the sale, the senior vice president directly owned 17,463 shares in the company, valued at approximately $2,794,080. This represents a 8.39% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Martha A. Tirinnanzi sold 1,340 shares of the firm’s stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $161.16, for a total transaction of $215,954.40. Following the completion of the transaction, the director directly owned 3,747 shares of the company’s stock, valued at approximately $603,866.52. This trade represents a 26.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 23,141 shares of company stock valued at $3,554,192. Corporate insiders own 0.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. The Goldman Sachs Group cut their price target on shares of Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $178.00 price objective on shares of Intercontinental Exchange in a research report on Friday, July 31st. UBS Group reiterated a “buy” rating and issued a $195.00 target price (up from $190.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. Piper Sandler reduced their target price on shares of Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating for the company in a research report on Wednesday, July 15th. Finally, Raymond James Financial restated a “strong-buy” rating and set a $218.00 price target on shares of Intercontinental Exchange in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Intercontinental Exchange currently has a consensus rating of “Moderate Buy” and a consensus target price of $184.17.

Intercontinental Exchange Company Profile

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.