Weaver Capital Management LLC Acquires 749 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Weaver Capital Management LLC boosted its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 18.6% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 4,770 shares of the financial services provider’s stock after buying an additional 749 shares during the quarter. Weaver Capital Management LLC’s holdings in Intercontinental Exchange were worth $766,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ICE. Private Advisor Group LLC increased its stake in shares of Intercontinental Exchange by 4.2% in the 3rd quarter. Private Advisor Group LLC now owns 30,616 shares of the financial services provider’s stock worth $4,918,000 after purchasing an additional 1,235 shares in the last quarter. Segment Wealth Management LLC grew its holdings in Intercontinental Exchange by 0.9% during the third quarter. Segment Wealth Management LLC now owns 49,475 shares of the financial services provider’s stock valued at $7,948,000 after purchasing an additional 432 shares during the period. Pictet North America Advisors SA increased its position in Intercontinental Exchange by 14.1% in the third quarter. Pictet North America Advisors SA now owns 7,313 shares of the financial services provider’s stock worth $1,175,000 after buying an additional 902 shares in the last quarter. Eastern Bank raised its stake in shares of Intercontinental Exchange by 5,659.0% in the third quarter. Eastern Bank now owns 89,610 shares of the financial services provider’s stock worth $14,395,000 after buying an additional 88,054 shares during the period. Finally, Signaturefd LLC lifted its position in shares of Intercontinental Exchange by 3.7% during the 3rd quarter. Signaturefd LLC now owns 8,876 shares of the financial services provider’s stock valued at $1,426,000 after buying an additional 316 shares in the last quarter. 89.30% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $168.00 target price on shares of Intercontinental Exchange in a report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Intercontinental Exchange from $152.00 to $154.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. Piper Sandler upped their target price on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. StockNews.com cut Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Monday. Finally, JPMorgan Chase & Co. upped their price objective on Intercontinental Exchange from $151.00 to $171.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $172.80.

Insider Activity

In related news, insider Christopher Scott Edmonds sold 602 shares of the firm’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $162.81, for a total value of $98,011.62. Following the completion of the sale, the insider now directly owns 14,034 shares in the company, valued at $2,284,875.54. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Intercontinental Exchange news, COO Stuart Glen Williams sold 468 shares of the company’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $162.81, for a total value of $76,195.08. Following the transaction, the chief operating officer now owns 13,530 shares of the company’s stock, valued at $2,202,819.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Christopher Scott Edmonds sold 602 shares of Intercontinental Exchange stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $162.81, for a total value of $98,011.62. Following the sale, the insider now owns 14,034 shares of the company’s stock, valued at approximately $2,284,875.54. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,532 shares of company stock valued at $1,358,709. 1.10% of the stock is currently owned by insiders.

Intercontinental Exchange Price Performance

ICE stock opened at $165.94 on Wednesday. The company has a fifty day simple moving average of $161.03 and a two-hundred day simple moving average of $146.73. Intercontinental Exchange, Inc. has a 52 week low of $104.49 and a 52 week high of $167.23. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $95.18 billion, a P/E ratio of 38.06, a price-to-earnings-growth ratio of 2.62 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, August 1st. The financial services provider reported $1.52 EPS for the quarter, topping the consensus estimate of $1.49 by $0.03. Intercontinental Exchange had a return on equity of 12.70% and a net margin of 21.43%. The company had revenue of $2.32 billion during the quarter, compared to analyst estimates of $2.31 billion. During the same quarter last year, the business posted $1.43 earnings per share. The firm’s revenue was up 22.7% on a year-over-year basis. Analysts anticipate that Intercontinental Exchange, Inc. will post 6.08 earnings per share for the current fiscal year.

About Intercontinental Exchange

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.