Intercontinental Exchange, Inc. (NYSE:ICE) Shares Bought by MBM Wealth Consultants LLC

MBM Wealth Consultants LLC grew its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 2.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 9,670 shares of the financial services provider’s stock after acquiring an additional 219 shares during the period. MBM Wealth Consultants LLC’s holdings in Intercontinental Exchange were worth $1,444,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Wolff Wiese Magana LLC grew its position in Intercontinental Exchange by 1,470.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 147 shares in the last quarter. Northwest Investment Counselors LLC purchased a new position in shares of Intercontinental Exchange in the third quarter valued at approximately $26,000. Financial Management Professionals Inc. grew its holdings in shares of Intercontinental Exchange by 106.1% in the third quarter. Financial Management Professionals Inc. now owns 169 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 87 shares in the last quarter. Capital Performance Advisors LLP purchased a new stake in Intercontinental Exchange during the 3rd quarter worth approximately $29,000. Finally, FSA Wealth Management LLC acquired a new stake in Intercontinental Exchange during the 3rd quarter worth approximately $31,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on ICE. Piper Sandler boosted their price target on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. TD Cowen started coverage on Intercontinental Exchange in a research note on Thursday, September 26th. They set a “buy” rating and a $182.00 target price for the company. Keefe, Bruyette & Woods reduced their price target on Intercontinental Exchange from $183.00 to $178.00 and set an “outperform” rating on the stock in a research report on Monday, January 13th. Royal Bank of Canada reissued an “outperform” rating and set a $200.00 price objective on shares of Intercontinental Exchange in a research report on Tuesday, January 7th. Finally, The Goldman Sachs Group upped their target price on shares of Intercontinental Exchange from $171.00 to $185.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $175.27.

Intercontinental Exchange Price Performance

Shares of ICE opened at $151.79 on Wednesday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.00 and a quick ratio of 1.00. Intercontinental Exchange, Inc. has a 1-year low of $124.34 and a 1-year high of $167.99. The stock has a market cap of $87.15 billion, a PE ratio of 35.97, a price-to-earnings-growth ratio of 2.85 and a beta of 1.10. The firm has a fifty day moving average price of $153.04 and a 200 day moving average price of $155.79.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.55. The firm had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.35 billion. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The business’s revenue was up 17.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.46 EPS. As a group, sell-side analysts anticipate that Intercontinental Exchange, Inc. will post 6.05 EPS for the current year.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, COO Stuart Glen Williams sold 750 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $152.99, for a total value of $114,742.50. Following the transaction, the chief operating officer now directly owns 12,780 shares in the company, valued at approximately $1,955,212.20. This trade represents a 5.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Mayur Kapani sold 5,661 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $147.59, for a total value of $835,506.99. Following the sale, the chief technology officer now owns 66,548 shares of the company’s stock, valued at $9,821,819.32. This trade represents a 7.84 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 13,795 shares of company stock worth $2,120,572. Insiders own 1.10% of the company’s stock.

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.