Demars Financial Group LLC Buys 3,175 Shares of Intercontinental Exchange Inc (NYSE:ICE)

Demars Financial Group LLC raised its stake in shares of Intercontinental Exchange Inc (NYSE:ICE) by 50.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,438 shares of the financial services provider’s stock after purchasing an additional 3,175 shares during the quarter. Demars Financial Group LLC’s holdings in Intercontinental Exchange were worth $865,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently made changes to their positions in the company. FMR LLC lifted its holdings in shares of Intercontinental Exchange by 15.0% in the 2nd quarter. FMR LLC now owns 8,644,090 shares of the financial services provider’s stock worth $791,799,000 after acquiring an additional 1,129,983 shares during the last quarter. Bank of America Corp DE increased its position in Intercontinental Exchange by 5.3% during the 2nd quarter. Bank of America Corp DE now owns 8,400,857 shares of the financial services provider’s stock valued at $769,519,000 after purchasing an additional 425,510 shares during the period. Geode Capital Management LLC increased its position in Intercontinental Exchange by 1.1% during the 1st quarter. Geode Capital Management LLC now owns 8,197,829 shares of the financial services provider’s stock valued at $660,894,000 after purchasing an additional 86,261 shares during the period. Invesco Ltd. increased its position in Intercontinental Exchange by 14.2% during the 1st quarter. Invesco Ltd. now owns 6,618,215 shares of the financial services provider’s stock valued at $534,421,000 after purchasing an additional 822,449 shares during the period. Finally, Wells Fargo & Company MN increased its position in Intercontinental Exchange by 9.1% during the 1st quarter. Wells Fargo & Company MN now owns 5,998,897 shares of the financial services provider’s stock valued at $484,412,000 after purchasing an additional 501,543 shares during the period. Institutional investors and hedge funds own 87.13% of the company’s stock.

ICE stock traded up $0.38 during trading on Wednesday, hitting $100.91. 2,233,406 shares of the stock traded hands, compared to its average volume of 3,586,837. Intercontinental Exchange Inc has a 1 year low of $63.51 and a 1 year high of $106.99. The firm’s 50 day moving average is $100.93 and its two-hundred day moving average is $92.80. The stock has a market cap of $54.78 billion, a price-to-earnings ratio of 26.14, a price-to-earnings-growth ratio of 2.63 and a beta of 0.59. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.01 and a quick ratio of 1.01.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.07 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.04 by $0.03. Intercontinental Exchange had a net margin of 29.01% and a return on equity of 14.18%. The company had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.39 billion. During the same period in the prior year, the firm posted $0.94 EPS. Intercontinental Exchange’s revenue for the quarter was up 7.5% on a year-over-year basis. As a group, analysts anticipate that Intercontinental Exchange Inc will post 4.38 EPS for the current fiscal year.

A number of research analysts have issued reports on ICE shares. Loop Capital started coverage on shares of Intercontinental Exchange in a research report on Friday, September 11th. They set a “buy” rating on the stock. Wells Fargo & Company reissued a “buy” rating on shares of Intercontinental Exchange in a research report on Tuesday. Rosenblatt Securities reaffirmed a “buy” rating and issued a $108.00 target price on shares of Intercontinental Exchange in a research report on Tuesday. Piper Sandler upped their target price on shares of Intercontinental Exchange from $105.00 to $117.00 in a research report on Friday, September 4th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Intercontinental Exchange from $98.00 to $101.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $105.33.

In other Intercontinental Exchange news, President Benjamin Jackson sold 1,000 shares of the company’s stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $95.03, for a total transaction of $95,030.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Andrew J. Surdykowski sold 4,305 shares of the company’s stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $92.40, for a total transaction of $397,782.00. The disclosure for this sale can be found here. Insiders have sold a total of 164,813 shares of company stock worth $16,212,323 over the last three months. 1.50% of the stock is currently owned by insiders.

Intercontinental Exchange Profile

Intercontinental Exchange, Inc operates regulated exchanges, clearing houses, and listings venues for commodity, financial, fixed income, and equity markets in the United States, the United Kingdom, European Union, Singapore, Israel, and Canada. It operates in two segments, Trading and Clearing; and Data and Listings.

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Institutional Ownership by Quarter for Intercontinental Exchange (NYSE:ICE)

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