Geneos Wealth Management Inc. Buys 1,003 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Geneos Wealth Management Inc. lifted its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 4.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,352 shares of the financial services provider’s stock after acquiring an additional 1,003 shares during the period. Geneos Wealth Management Inc.’s holdings in Intercontinental Exchange were worth $3,209,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in ICE. Scarborough Advisors LLC bought a new stake in shares of Intercontinental Exchange during the fourth quarter worth about $25,000. Annapolis Financial Services LLC grew its position in Intercontinental Exchange by 1,018.8% in the 1st quarter. Annapolis Financial Services LLC now owns 179 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 163 shares in the last quarter. Redmont Wealth Advisors LLC bought a new stake in Intercontinental Exchange in the 1st quarter worth about $26,000. Fortitude Family Office LLC purchased a new position in Intercontinental Exchange in the fourth quarter valued at about $28,000. Finally, Stuart Chaussee & Associates Inc. purchased a new position in Intercontinental Exchange in the fourth quarter valued at about $28,000. 89.30% of the stock is owned by institutional investors.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, CEO Jeffrey C. Sprecher sold 58,389 shares of the stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $141.68, for a total transaction of $8,272,553.52. Following the completion of the sale, the chief executive officer now owns 1,179,993 shares of the company’s stock, valued at approximately $167,181,408.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, major shareholder Intercontinental Exchange, Inc acquired 350,880 shares of Intercontinental Exchange stock in a transaction on Thursday, April 25th. The stock was acquired at an average cost of $0.87 per share, for a total transaction of $305,265.60. Following the purchase, the insider now owns 649,934 shares in the company, valued at $565,442.58. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jeffrey C. Sprecher sold 58,389 shares of the firm’s stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $141.68, for a total transaction of $8,272,553.52. Following the sale, the chief executive officer now owns 1,179,993 shares of the company’s stock, valued at $167,181,408.24. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 63,290 shares of company stock valued at $8,937,674. Insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ICE. Argus reiterated a “buy” rating and issued a $153.00 target price on shares of Intercontinental Exchange in a research note on Tuesday, May 21st. StockNews.com upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Tuesday, July 2nd. Morgan Stanley upped their price target on shares of Intercontinental Exchange from $139.00 to $142.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. Citigroup upped their price target on shares of Intercontinental Exchange from $160.00 to $162.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Barclays upped their price target on shares of Intercontinental Exchange from $150.00 to $159.00 and gave the company an “overweight” rating in a research note on Wednesday. Two research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Intercontinental Exchange currently has a consensus rating of “Moderate Buy” and a consensus target price of $152.07.

Intercontinental Exchange Price Performance

Shares of NYSE:ICE traded up $2.74 during trading on Thursday, reaching $147.15. The company had a trading volume of 3,215,571 shares, compared to its average volume of 2,362,695. The company has a fifty day moving average of $136.13 and a two-hundred day moving average of $133.81. The stock has a market capitalization of $84.40 billion, a P/E ratio of 33.53, a price-to-earnings-growth ratio of 2.63 and a beta of 1.06. Intercontinental Exchange, Inc. has a 12 month low of $104.49 and a 12 month high of $147.32. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.76.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, May 2nd. The financial services provider reported $1.48 EPS for the quarter, meeting the consensus estimate of $1.48. Intercontinental Exchange had a net margin of 24.24% and a return on equity of 12.76%. The company had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.31 billion. During the same quarter last year, the firm earned $1.41 EPS. The firm’s quarterly revenue was up 20.8% compared to the same quarter last year. Equities research analysts forecast that Intercontinental Exchange, Inc. will post 5.96 earnings per share for the current year.

About Intercontinental Exchange

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.