Great Valley Advisor Group Inc. Buys New Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Great Valley Advisor Group Inc. purchased a new position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) in the third quarter, HoldingsChannel reports. The fund purchased 1,419 shares of the financial services provider’s stock, valued at approximately $228,000.

A number of other institutional investors have also modified their holdings of ICE. Nicolet Advisory Services LLC grew its stake in Intercontinental Exchange by 4.9% in the 3rd quarter. Nicolet Advisory Services LLC now owns 7,238 shares of the financial services provider’s stock worth $1,182,000 after acquiring an additional 340 shares during the period. Leelyn Smith LLC boosted its holdings in shares of Intercontinental Exchange by 0.4% during the third quarter. Leelyn Smith LLC now owns 30,742 shares of the financial services provider’s stock worth $4,938,000 after purchasing an additional 125 shares during the last quarter. GenTrust LLC purchased a new stake in shares of Intercontinental Exchange in the third quarter valued at $235,000. Stonebrook Private Inc. increased its stake in Intercontinental Exchange by 2.5% in the third quarter. Stonebrook Private Inc. now owns 7,526 shares of the financial services provider’s stock valued at $1,209,000 after purchasing an additional 181 shares during the last quarter. Finally, Nwam LLC purchased a new position in Intercontinental Exchange during the third quarter worth about $240,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Intercontinental Exchange Trading Up 0.4 %

ICE opened at $161.14 on Thursday. The firm has a market capitalization of $92.52 billion, a P/E ratio of 38.18, a P/E/G ratio of 2.64 and a beta of 1.08. The firm’s 50 day moving average is $160.55 and its 200-day moving average is $151.59. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.68. Intercontinental Exchange, Inc. has a 52-week low of $111.82 and a 52-week high of $167.99.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.55. The company had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.35 billion. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The firm’s revenue for the quarter was up 17.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.46 EPS. Analysts expect that Intercontinental Exchange, Inc. will post 6.07 EPS for the current fiscal year.

Analysts Set New Price Targets

ICE has been the subject of several recent analyst reports. TD Cowen initiated coverage on Intercontinental Exchange in a report on Thursday, September 26th. They issued a “buy” rating and a $182.00 price target for the company. Piper Sandler upped their price target on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. StockNews.com lowered shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Wednesday. The Goldman Sachs Group upped their price objective on Intercontinental Exchange from $171.00 to $185.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Finally, Barclays lowered their price target on Intercontinental Exchange from $179.00 to $173.00 and set an “overweight” rating for the company in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $174.13.

Insider Activity at Intercontinental Exchange

In other news, COO Stuart Glen Williams sold 468 shares of the stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total transaction of $76,195.08. Following the transaction, the chief operating officer now owns 13,530 shares of the company’s stock, valued at approximately $2,202,819.30. This trade represents a 3.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Warren Gardiner sold 750 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $161.43, for a total value of $121,072.50. Following the sale, the chief financial officer now owns 16,576 shares in the company, valued at $2,675,863.68. The trade was a 4.33 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 9,696 shares of company stock valued at $1,554,559. Insiders own 1.10% of the company’s stock.

Intercontinental Exchange 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.