Demars Financial Group LLC Acquires 6,074 Shares of Intercontinental Exchange Inc. $ICE

Demars Financial Group LLC lifted its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 168.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,670 shares of the financial services provider’s stock after purchasing an additional 6,074 shares during the period. Intercontinental Exchange accounts for 0.5% of Demars Financial Group LLC’s holdings, making the stock its 26th biggest holding. Demars Financial Group LLC’s holdings in Intercontinental Exchange were worth $1,521,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Ares Financial Consulting LLC bought a new position in Intercontinental Exchange during the 4th quarter worth $25,000. Holos Integrated Wealth LLC bought a new stake in shares of Intercontinental Exchange in the 4th quarter valued at about $28,000. Steph & Co. grew its position in shares of Intercontinental Exchange by 104.7% in the 4th quarter. Steph & Co. now owns 174 shares of the financial services provider’s stock valued at $28,000 after buying an additional 89 shares during the last quarter. Brooklands Fund Management Ltd acquired a new stake in shares of Intercontinental Exchange in the fourth quarter valued at about $28,000. Finally, Swiss RE Ltd. acquired a new stake in shares of Intercontinental Exchange in the fourth quarter valued at about $28,000. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Performance

ICE stock opened at $137.10 on Thursday. The firm has a market cap of $77.53 billion, a PE ratio of 19.96, a price-to-earnings-growth ratio of 1.28 and a beta of 0.94. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63. The stock has a 50-day moving average price of $143.33 and a 200-day moving average price of $155.91. Intercontinental Exchange Inc. has a 1-year low of $121.79 and a 1-year high of $189.35.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, April 30th. The financial services provider reported $2.35 EPS for the quarter, beating the consensus estimate of $2.23 by $0.12. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The company had revenue of $3.67 billion for the quarter, compared to analyst estimates of $2.88 billion. During the same quarter in the prior year, the company earned $1.72 EPS. The firm’s revenue for the quarter was up 20.4% compared to the same quarter last year. As a group, equities research analysts expect that Intercontinental Exchange Inc. will post 8.35 earnings per share for the current year.

Analyst Upgrades and Downgrades

ICE has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods initiated coverage on Intercontinental Exchange in a research note on Wednesday, April 8th. They issued an “outperform” rating and a $190.00 price objective on the stock. Piper Sandler reissued an “overweight” rating and set a $211.00 target price (up from $195.00) on shares of Intercontinental Exchange in a research report on Wednesday, April 15th. The Goldman Sachs Group lowered their price target on shares of Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. Rothschild & Co Redburn set a $177.00 price target on shares of Intercontinental Exchange in a research report on Thursday, June 11th. Finally, Weiss Ratings lowered shares of Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, June 17th. One research 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’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $187.08.

Insiders Place Their Bets

In other Intercontinental Exchange news, CFO Warren Gardiner sold 2,490 shares of the business’s stock in a transaction that occurred 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 transaction, the chief financial officer directly owned 25,189 shares of the company’s stock, valued at approximately $3,945,604.96. The trade was a 9.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Sharon Bowen sold 667 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $151.28, for a total value of $100,903.76. Following the transaction, the director owned 15,077 shares in the company, valued at $2,280,848.56. The trade was a 4.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 13,425 shares of company stock valued at $2,046,324 in the last 90 days. Company insiders own 0.84% of the company’s stock.

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.