Elevated Capital Advisors LLC Invests $279,000 in Intercontinental Exchange, Inc. (NYSE:ICE)

Elevated Capital Advisors LLC purchased a new position in Intercontinental Exchange, Inc. (NYSE:ICE) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,875 shares of the financial services provider’s stock, valued at approximately $279,000.

Other institutional investors also recently added to or reduced their stakes in the company. Wolff Wiese Magana LLC increased its position in shares of Intercontinental Exchange by 1,470.0% during the third quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 147 shares during the period. Northwest Investment Counselors LLC bought a new position in Intercontinental Exchange in the third quarter worth approximately $26,000. Financial Management Professionals Inc. raised its position in Intercontinental Exchange by 106.1% during the 3rd 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. Fairscale Capital LLC purchased a new stake in shares of Intercontinental Exchange in the 2nd quarter worth $25,000. Finally, Capital Performance Advisors LLP bought a new position in shares of Intercontinental Exchange during the 3rd quarter worth $29,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Price Performance

Shares of ICE opened at $143.84 on Tuesday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.00 and a quick ratio of 1.00. The company’s fifty day moving average price is $153.88 and its 200-day moving average price is $155.47. Intercontinental Exchange, Inc. has a 1-year low of $124.34 and a 1-year high of $167.99. The firm has a market capitalization of $82.59 billion, a PE ratio of 34.09, a price-to-earnings-growth ratio of 2.57 and a beta of 1.10.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, meeting the consensus estimate of $1.55. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The business had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter in the previous year, the business earned $1.46 EPS. The company’s quarterly revenue was up 17.3% compared to the same quarter last year. On average, equities research analysts predict that Intercontinental Exchange, Inc. will post 6.07 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Royal Bank of Canada restated an “outperform” rating and issued a $200.00 price objective on shares of Intercontinental Exchange in a report on Tuesday, January 7th. Keefe, Bruyette & Woods dropped their price objective on shares of Intercontinental Exchange from $183.00 to $178.00 and set an “outperform” rating on the stock in a research note on Monday. Piper Sandler boosted their price objective 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 report on Thursday, September 26th. They issued a “buy” rating and a $182.00 price target on the stock. Finally, Morgan Stanley upped their price objective on Intercontinental Exchange from $160.00 to $174.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $175.20.

Insider Buying and Selling

In related news, President Benjamin Jackson sold 5,828 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $160.00, for a total transaction of $932,480.00. Following the completion of the transaction, the president now owns 156,163 shares of the company’s stock, valued at $24,986,080. This trade represents a 3.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Stuart Glen Williams sold 750 shares of the business’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $152.99, for a total transaction of $114,742.50. Following the transaction, the chief operating officer now owns 12,780 shares of the company’s stock, valued at $1,955,212.20. This represents a 5.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,533 shares of company stock worth $1,196,279. 1.10% of the stock is owned by company insiders.

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.