Elevation Point Wealth Partners LLC Increases Stock Position in Intercontinental Exchange Inc. $ICE

Elevation Point Wealth Partners LLC lifted its position in Intercontinental Exchange Inc. (NYSE:ICE) by 194.3% during the 1st quarter, HoldingsChannel reports. The firm owned 11,397 shares of the financial services provider’s stock after acquiring an additional 7,524 shares during the quarter. Elevation Point Wealth Partners LLC’s holdings in Intercontinental Exchange were worth $1,793,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in ICE. KPP Advisory Services LLC grew its holdings in Intercontinental Exchange by 7.6% during the 1st quarter. KPP Advisory Services LLC now owns 3,316 shares of the financial services provider’s stock valued at $522,000 after buying an additional 235 shares in the last quarter. Root Financial Partners LLC boosted its position in shares of Intercontinental Exchange by 47.4% during the 1st quarter. Root Financial Partners LLC now owns 572 shares of the financial services provider’s stock valued at $90,000 after acquiring an additional 184 shares during the last quarter. Petros Family Wealth LLC grew its holdings in shares of Intercontinental Exchange by 10.8% in the first quarter. Petros Family Wealth LLC now owns 6,681 shares of the financial services provider’s stock valued at $1,051,000 after purchasing an additional 651 shares in the last quarter. Twin City Private Wealth LLC bought a new stake in Intercontinental Exchange in the first quarter worth $726,000. Finally, Essex Financial Services Inc. increased its position in Intercontinental Exchange by 4.7% in the first quarter. Essex Financial Services Inc. now owns 1,970 shares of the financial services provider’s stock worth $310,000 after purchasing an additional 88 shares during the last quarter. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Intercontinental Exchange Trading Down 0.3%

NYSE ICE opened at $132.57 on Monday. The stock has a market cap of $74.97 billion, a PE ratio of 19.30, a PEG ratio of 1.24 and a beta of 0.94. Intercontinental Exchange Inc. has a 12 month low of $121.79 and a 12 month high of $189.35. The company’s 50-day moving average price is $144.62 and its 200-day moving average price is $156.42. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, April 30th. The financial services provider reported $2.35 EPS for the quarter, topping analysts’ consensus estimates of $2.23 by $0.12. The business had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $2.88 billion. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The company’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.72 EPS. Equities research analysts forecast that Intercontinental Exchange Inc. will post 8.37 earnings per share for the current year.

Analyst Ratings Changes

ICE has been the subject of a number of recent research reports. The Goldman Sachs Group dropped their price objective on shares of Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating for the company in a research note on Tuesday, June 30th. TD Cowen dropped their price target on Intercontinental Exchange from $193.00 to $153.00 and set a “buy” rating for the company in a research report on Monday, June 22nd. Weiss Ratings cut Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, June 17th. Barclays restated an “overweight” rating and set a $201.00 price objective (up from $198.00) on shares of Intercontinental Exchange in a research report on Friday, May 1st. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $211.00 price objective (up from $195.00) on shares of Intercontinental Exchange in a research note on Wednesday, April 15th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Intercontinental Exchange has a consensus rating of “Moderate Buy” and a consensus price target of $188.58.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, Director William Jefferson Hague sold 1,333 shares of Intercontinental Exchange stock in a transaction on Friday, June 12th. The stock was sold at an average price of $139.46, for a total transaction of $185,900.18. Following the completion of the sale, the director directly owned 20,132 shares of the company’s stock, valued at $2,807,608.72. The trade was a 6.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Warren Gardiner sold 2,490 shares of the company’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $156.64, for a total value of $390,033.60. Following the completion of the sale, the chief financial officer owned 25,189 shares of the company’s stock, valued at $3,945,604.96. This represents a 9.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 13,425 shares of company stock worth $2,046,324 over the last three months. Corporate insiders own 0.84% of the company’s stock.

About Intercontinental Exchange

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.