West Family Investments Inc. Acquires New Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

West Family Investments Inc. purchased a new stake in Intercontinental Exchange, Inc. (NYSE:ICE) during the 3rd quarter, HoldingsChannel reports. The fund purchased 1,335 shares of the financial services provider’s stock, valued at approximately $214,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. O Shaughnessy Asset Management LLC lifted its holdings in shares of Intercontinental Exchange by 30.7% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 39,759 shares of the financial services provider’s stock worth $5,464,000 after acquiring an additional 9,340 shares during the last quarter. Lake Street Advisors Group LLC boosted its stake in Intercontinental Exchange by 31.9% during the first quarter. Lake Street Advisors Group LLC now owns 4,543 shares of the financial services provider’s stock worth $624,000 after acquiring an additional 1,099 shares in the last quarter. Delap Wealth Advisory LLC boosted its holdings in Intercontinental Exchange by 7.5% in the first quarter. Delap Wealth Advisory LLC now owns 1,941 shares of the financial services provider’s stock worth $267,000 after acquiring an additional 136 shares in the last quarter. EP Wealth Advisors LLC lifted its stake in shares of Intercontinental Exchange by 4.2% in the first quarter. EP Wealth Advisors LLC now owns 6,106 shares of the financial services provider’s stock worth $839,000 after buying an additional 248 shares in the last quarter. Finally, First Commonwealth Financial Corp PA boosted its position in shares of Intercontinental Exchange by 69.9% during the first quarter. First Commonwealth Financial Corp PA now owns 9,039 shares of the financial services provider’s stock valued at $1,242,000 after buying an additional 3,718 shares during the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, Director Martha A. Tirinnanzi sold 509 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $158.98, for a total transaction of $80,920.82. Following the completion of the sale, the director now directly owns 3,958 shares in the company, valued at approximately $629,242.84. The trade was a 11.39 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO James W. Namkung sold 1,171 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $160.00, for a total value of $187,360.00. Following the completion of the transaction, the chief accounting officer now directly owns 16,665 shares of the company’s stock, valued at approximately $2,666,400. This represents a 6.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,489 shares of company stock valued at $1,202,259 in the last three months. 1.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. The Goldman Sachs Group raised their target price on Intercontinental Exchange from $171.00 to $185.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Morgan Stanley boosted their price target on Intercontinental Exchange from $160.00 to $174.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Royal Bank of Canada reissued an “outperform” rating and set a $200.00 price objective on shares of Intercontinental Exchange in a report on Friday, November 1st. Bank of America raised their target price on shares of Intercontinental Exchange from $168.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Finally, Piper Sandler raised their price target on Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $174.13.

Intercontinental Exchange Trading Up 0.2 %

Shares of ICE opened at $157.93 on Wednesday. The company has a 50-day moving average of $160.81 and a 200 day moving average of $150.63. The firm has a market capitalization of $90.68 billion, a price-to-earnings ratio of 37.42, a PEG ratio of 2.57 and a beta of 1.08. Intercontinental Exchange, Inc. has a 1-year low of $110.64 and a 1-year high of $167.99. 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 (NYSE:ICE) last issued its quarterly earnings data on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, hitting 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 firm’s quarterly revenue was up 17.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.46 EPS. On average, research analysts expect that Intercontinental Exchange, Inc. will post 6.07 EPS for the current year.

Intercontinental Exchange Company 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.