Arkadios Wealth Advisors Increases Stake in Intercontinental Exchange Inc. $ICE

Arkadios Wealth Advisors raised its position in Intercontinental Exchange Inc. (NYSE:ICE) by 246.6% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 5,909 shares of the financial services provider’s stock after acquiring an additional 4,204 shares during the period. Arkadios Wealth Advisors’ holdings in Intercontinental Exchange were worth $995,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in ICE. Fifth Third Wealth Advisors LLC raised its position in shares of 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 worth $2,008,000 after buying an additional 3,261 shares during the period. Eastern Bank increased its stake in Intercontinental Exchange by 14.6% during the third 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 during the last quarter. Horizon Kinetics Asset Management LLC increased its stake in 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 last quarter. Gateway Investment Advisers LLC raised its holdings in shares of Intercontinental Exchange by 3.0% in the 3rd quarter. Gateway Investment Advisers LLC now owns 273,010 shares of the financial services provider’s stock worth $45,997,000 after purchasing an additional 8,006 shares during the period. Finally, Voya Investment Management LLC lifted its stake in shares of Intercontinental Exchange by 7.1% in the 3rd quarter. Voya Investment Management LLC now owns 2,065,205 shares of the financial services provider’s stock valued at $347,575,000 after purchasing an additional 136,299 shares in the last quarter. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on ICE shares. JPMorgan Chase & Co. dropped their target price on shares of Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating for the company in a research report on Friday, October 31st. Morgan Stanley set a $180.00 price objective on shares of Intercontinental Exchange and gave the stock an “equal weight” rating in a research note on Thursday, January 15th. Barclays set a $182.00 target price on shares of Intercontinental Exchange and gave the company an “overweight” rating in a research note on Thursday, January 8th. Wall Street Zen cut shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Piper Sandler reiterated an “overweight” rating and issued a $195.00 price target (down from $202.00) on shares of Intercontinental Exchange in a report on Wednesday, January 14th. One equities research 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 MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $193.50.

Insider Activity at Intercontinental Exchange

In related news, General Counsel Andrew J. Surdykowski sold 2,081 shares of the company’s stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $151.00, for a total value of $314,231.00. Following the sale, the general counsel directly owned 44,212 shares of the company’s stock, valued at $6,676,012. This represents a 4.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Douglas Foley sold 1,600 shares of the stock in a transaction on Friday, December 12th. The shares were sold at an average price of $163.20, for a total transaction of $261,120.00. Following the transaction, the senior vice president owned 24,196 shares in the company, valued at $3,948,787.20. This trade represents a 6.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 166,068 shares of company stock worth $25,470,702. 1.00% of the stock is currently owned by insiders.

Intercontinental Exchange Stock Down 0.8%

Shares of Intercontinental Exchange stock opened at $172.94 on Friday. Intercontinental Exchange Inc. has a 1-year low of $143.17 and a 1-year high of $189.35. The company has a market capitalization of $98.61 billion, a PE ratio of 31.50, a P/E/G ratio of 2.10 and a beta of 1.03. 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 business has a 50-day moving average of $161.89 and a 200-day moving average of $167.14.

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

Intercontinental Exchange 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.