Brookstone Capital Management Takes Position in Intercontinental Exchange Inc. $ICE

Brookstone Capital Management acquired a new stake in Intercontinental Exchange Inc. (NYSE:ICE) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 1,465 shares of the financial services provider’s stock, valued at approximately $269,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. D.A. Davidson & CO. increased its stake in shares of Intercontinental Exchange by 0.3% in the 2nd quarter. D.A. Davidson & CO. now owns 29,310 shares of the financial services provider’s stock valued at $5,378,000 after purchasing an additional 82 shares in the last quarter. Gables Capital Management Inc. increased its stake in shares of Intercontinental Exchange by 100.0% in the 2nd quarter. Gables Capital Management Inc. now owns 250 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 125 shares in the last quarter. Cullen Frost Bankers Inc. increased its stake in shares of Intercontinental Exchange by 3.0% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 121,179 shares of the financial services provider’s stock valued at $22,233,000 after purchasing an additional 3,505 shares in the last quarter. Schwartz Investment Counsel Inc. increased its stake in shares of Intercontinental Exchange by 7.1% in the 2nd quarter. Schwartz Investment Counsel Inc. now owns 91,000 shares of the financial services provider’s stock valued at $16,696,000 after purchasing an additional 6,000 shares in the last quarter. Finally, VCI Wealth Management LLC increased its stake in shares of Intercontinental Exchange by 14.1% in the 2nd quarter. VCI Wealth Management LLC now owns 8,015 shares of the financial services provider’s stock valued at $1,471,000 after purchasing an additional 993 shares in the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Wall Street Analysts Forecast Growth

ICE has been the subject of several recent analyst reports. Barclays restated an “overweight” rating and issued a $201.00 price target (down previously from $212.00) on shares of Intercontinental Exchange in a research note on Wednesday, October 8th. Raymond James Financial upgraded Intercontinental Exchange from an “outperform” rating to a “strong-buy” rating and set a $210.00 price target for the company in a research note on Monday, October 13th. JPMorgan Chase & Co. lifted their price target on Intercontinental Exchange from $195.00 to $203.00 and gave the company an “overweight” rating in a research note on Thursday, September 25th. Weiss Ratings reiterated a “buy (b)” rating on shares of Intercontinental Exchange in a research note on Wednesday, October 8th. Finally, Piper Sandler boosted their price objective on Intercontinental Exchange from $180.00 to $202.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $198.60.

Insider Buying and Selling at Intercontinental Exchange

In other news, Director Judith A. Sprieser sold 2,900 shares of the business’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 transaction of $506,079.00. Following the transaction, the director directly owned 18,169 shares in the company, valued at $3,170,672.19. The trade was a 13.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 3,850 shares of the business’s stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $178.33, for a total value of $686,570.50. Following the transaction, 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. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 240,162 shares of company stock worth $43,642,652. 1.00% of the stock is owned by company insiders.

Intercontinental Exchange Price Performance

NYSE:ICE opened at $157.25 on Wednesday. The firm has a market cap of $90.01 billion, a P/E ratio of 30.18, a price-to-earnings-growth ratio of 2.23 and a beta of 1.08. The stock has a 50 day moving average of $167.48 and a two-hundred day moving average of $173.71. Intercontinental Exchange Inc. has a 12 month low of $142.29 and a 12 month high of $189.35. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61.

Intercontinental Exchange (NYSE:ICE) last issued its 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. The business 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 revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.52 EPS. On average, analysts expect that Intercontinental Exchange Inc. will post 6.73 earnings per share 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.