Janney Montgomery Scott LLC Acquires 8,408 Shares of Intercontinental Exchange Inc. $ICE

Janney Montgomery Scott LLC raised its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 12.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 77,987 shares of the financial services provider’s stock after buying an additional 8,408 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Intercontinental Exchange were worth $14,308,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in ICE. Tsfg LLC grew its position in shares of Intercontinental Exchange by 187.3% in 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 last quarter. Rakuten Securities Inc. grew its position in shares of Intercontinental Exchange by 595.8% in the 1st quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider’s stock worth $29,000 after buying an additional 143 shares during the last quarter. Activest Wealth Management grew its position in shares of Intercontinental Exchange by 4,050.0% in 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 last quarter. McClarren Financial Advisors Inc. bought a new stake in shares of Intercontinental Exchange during the first quarter valued at approximately $30,000. Finally, Global Trust Asset Management LLC bought a new stake in shares of Intercontinental Exchange during the first quarter valued at approximately $31,000. 89.30% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on ICE shares. Morgan Stanley dropped their price target on Intercontinental Exchange from $192.00 to $188.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Barclays lifted their price target on Intercontinental Exchange from $206.00 to $212.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Weiss Ratings restated a “buy (b)” rating on shares of Intercontinental Exchange in a research report on Saturday, September 27th. UBS Group lifted their price target on Intercontinental Exchange from $195.00 to $210.00 and gave the company a “buy” rating in a research report on Tuesday, July 8th. Finally, Piper Sandler lifted their price target on Intercontinental Exchange from $180.00 to $202.00 and gave the company an “overweight” rating in a research report on Tuesday, July 15th. Nine research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $198.20.

Intercontinental Exchange Stock Up 0.9%

ICE stock opened at $162.47 on Friday. Intercontinental Exchange Inc. has a 1-year low of $142.29 and a 1-year high of $189.35. The business has a fifty day moving average price of $176.53 and a 200-day moving average price of $174.67. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market capitalization of $93.00 billion, a P/E ratio of 31.18, a P/E/G ratio of 1.96 and a beta of 1.08.

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

Insider Activity at Intercontinental Exchange

In related news, General Counsel Andrew J. Surdykowski sold 3,850 shares of the company’s stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $178.33, for a total transaction of $686,570.50. Following the completion of the sale, the general counsel owned 46,293 shares in the company, valued at approximately $8,255,430.69. This represents a 7.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Duriya M. Farooqui sold 2,036 shares of the company’s stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $178.34, for a total value of $363,100.24. Following the sale, the director owned 14,299 shares of the company’s stock, valued at approximately $2,550,083.66. This trade represents a 12.46% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 230,874 shares of company stock valued at $42,187,714 in the last 90 days. 1.00% of the stock is owned by company insiders.

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.