Perigon Wealth Management LLC Purchases 20,917 Shares of Intercontinental Exchange Inc. $ICE

Perigon Wealth Management LLC lifted its position in Intercontinental Exchange Inc. (NYSE:ICE) by 119.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 38,372 shares of the financial services provider’s stock after purchasing an additional 20,917 shares during the quarter. Perigon Wealth Management LLC’s holdings in Intercontinental Exchange were worth $6,465,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Optivise Advisory Services LLC increased its stake in Intercontinental Exchange by 3.1% in the 2nd quarter. Optivise Advisory Services LLC now owns 1,794 shares of the financial services provider’s stock worth $329,000 after acquiring an additional 54 shares during the last quarter. ICONIQ Capital LLC increased its position in shares of Intercontinental Exchange by 2.2% in the second quarter. ICONIQ Capital LLC now owns 2,621 shares of the financial services provider’s stock worth $481,000 after purchasing an additional 56 shares during the last quarter. Tritonpoint Wealth LLC increased its position in shares of Intercontinental Exchange by 1.4% in the second quarter. Tritonpoint Wealth LLC now owns 4,347 shares of the financial services provider’s stock worth $798,000 after purchasing an additional 58 shares during the last quarter. SBI Securities Co. Ltd. raised its stake in Intercontinental Exchange by 5.0% in the second quarter. SBI Securities Co. Ltd. now owns 1,207 shares of the financial services provider’s stock valued at $221,000 after purchasing an additional 58 shares in the last quarter. Finally, RB Capital Management LLC lifted its position in Intercontinental Exchange by 1.3% during the second quarter. RB Capital Management LLC now owns 4,584 shares of the financial services provider’s stock valued at $841,000 after purchasing an additional 59 shares during the last quarter. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Intercontinental Exchange Price Performance

ICE opened at $163.53 on Monday. 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’s 50 day simple moving average is $155.72 and its 200 day simple moving average is $168.92. The firm has a market cap of $93.24 billion, a price-to-earnings ratio of 29.79, a PEG ratio of 2.31 and a beta of 1.04. Intercontinental Exchange Inc. has a 1 year low of $142.29 and a 1 year high of $189.35.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, October 30th. The financial services provider reported $1.71 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.71. Intercontinental Exchange had a return on equity of 13.79% and a net margin of 25.24%.The firm had revenue of $3.01 billion during the quarter, compared to analyst estimates of $2.49 billion. During the same quarter in the prior year, the firm posted $1.55 earnings per share. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. As a group, analysts predict that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Insider Buying and Selling at Intercontinental Exchange

In related news, CTO Mayur Kapani sold 5,345 shares of the firm’s stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $156.67, for a total value of $837,401.15. Following the sale, the chief technology officer directly owned 65,240 shares of the company’s stock, valued at $10,221,150.80. This trade represents a 7.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Warren Gardiner sold 1,572 shares of the company’s stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $153.65, for a total value of $241,537.80. Following the transaction, the chief financial officer directly owned 20,534 shares of the company’s stock, valued at $3,155,049.10. The trade was a 7.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 176,150 shares of company stock worth $27,072,531 over the last ninety days. 1.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Morgan Stanley reissued a “positive” rating and issued a $174.00 price target (up previously from $169.00) on shares of Intercontinental Exchange in a report on Monday, December 22nd. Barclays set a $183.00 target price on Intercontinental Exchange and gave the company an “overweight” rating in a research note on Friday, October 31st. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Intercontinental Exchange in a research note on Tuesday, December 23rd. UBS Group reduced their price objective on Intercontinental Exchange from $215.00 to $200.00 and set a “buy” rating on the stock in a research report on Friday, October 31st. Finally, Keefe, Bruyette & Woods upgraded Intercontinental Exchange to a “moderate buy” rating in a research report on Monday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating and ten have issued a Buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $194.30.

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.