AE Wealth Management LLC Acquires 11,964 Shares of Intercontinental Exchange Inc. $ICE

AE Wealth Management LLC boosted its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 4.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 278,458 shares of the financial services provider’s stock after purchasing an additional 11,964 shares during the quarter. AE Wealth Management LLC’s holdings in Intercontinental Exchange were worth $46,914,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Dynasty Wealth Management LLC bought a new position in shares of Intercontinental Exchange in the third quarter worth about $897,000. Fifth Third Wealth Advisors LLC boosted its position in Intercontinental Exchange by 37.7% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 11,920 shares of the financial services provider’s stock valued at $2,008,000 after buying an additional 3,261 shares during the period. Eastern Bank grew its stake in Intercontinental Exchange by 14.6% in the 3rd quarter. Eastern Bank now owns 203,731 shares of the financial services provider’s stock worth $34,325,000 after acquiring an additional 25,980 shares in the last quarter. Horizon Kinetics Asset Management LLC increased its position in shares of Intercontinental Exchange by 1.6% during the second quarter. Horizon Kinetics Asset Management LLC now owns 831,758 shares of the financial services provider’s stock worth $152,603,000 after acquiring an additional 13,497 shares during the period. Finally, Gateway Investment Advisers LLC raised its stake in shares of Intercontinental Exchange by 3.0% during the third quarter. Gateway Investment Advisers LLC now owns 273,010 shares of the financial services provider’s stock valued at $45,997,000 after acquiring an additional 8,006 shares in the last quarter. 89.30% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Jeffrey C. Sprecher sold 150,000 shares of the business’s stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $153.08, for a total transaction of $22,962,000.00. Following the transaction, the chief executive officer directly owned 1,801,705 shares in the company, valued at $275,805,001.40. The trade was a 7.69% decrease in their position. The sale was disclosed in a filing 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 dated 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 in the company, valued at $3,155,049.10. This represents a 7.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 166,068 shares of company stock valued at $25,470,702 over the last quarter. Insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on ICE shares. Barclays set a $182.00 price objective on Intercontinental Exchange and gave the stock an “overweight” rating in a research note on Thursday, January 8th. Wall Street Zen cut Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Saturday, January 24th. UBS Group restated a “buy” rating on shares of Intercontinental Exchange in a research note on Wednesday, January 7th. Weiss Ratings restated a “buy (b-)” rating on shares of Intercontinental Exchange in a report on Monday, December 29th. Finally, TD Cowen reiterated a “buy” rating on shares of Intercontinental Exchange in a report on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $193.50.

Intercontinental Exchange Price Performance

Shares of ICE stock opened at $172.40 on Thursday. The stock’s 50-day moving average is $163.18 and its 200 day moving average is $166.98. Intercontinental Exchange Inc. has a 1-year low of $143.17 and a 1-year high of $189.35. 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 company has a market cap of $98.30 billion, a P/E ratio of 31.40, a PEG ratio of 2.14 and a beta of 1.03.

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

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.