Tranquility Partners LLC Invests $208,000 in Intercontinental Exchange, Inc. (NYSE:ICE)

Tranquility Partners LLC bought a new stake in Intercontinental Exchange, Inc. (NYSE:ICE) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,295 shares of the financial services provider’s stock, valued at approximately $208,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. New Millennium Group LLC purchased a new position in shares of Intercontinental Exchange in the 2nd quarter valued at about $25,000. International Assets Investment Management LLC acquired a new position in Intercontinental Exchange in the second quarter valued at approximately $25,000. Fairscale Capital LLC purchased a new position in Intercontinental Exchange in the second quarter valued at approximately $25,000. Wolff Wiese Magana LLC increased its stake in Intercontinental Exchange by 1,470.0% in the third quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 147 shares during the last quarter. Finally, Northwest Investment Counselors LLC acquired a new stake in Intercontinental Exchange during the third quarter worth approximately $26,000. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Intercontinental Exchange

In related news, Director Judith A. Sprieser sold 1,941 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $160.69, for a total value of $311,899.29. Following the completion of the transaction, the director now directly owns 26,908 shares of the company’s stock, valued at $4,323,846.52. This trade represents a 6.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 2,048 shares of the business’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $159.57, for a total value of $326,799.36. Following the sale, the general counsel now owns 44,865 shares in the company, valued at approximately $7,159,108.05. The trade was a 4.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,489 shares of company stock valued at $1,202,259 in the last ninety days. 1.10% of the stock is currently owned by company insiders.

Intercontinental Exchange Stock Performance

NYSE ICE opened at $157.93 on Wednesday. The stock has a market capitalization of $90.68 billion, a price-to-earnings ratio of 37.42, a PEG ratio of 2.57 and a beta of 1.08. The business’s 50 day moving average is $160.81 and its two-hundred day moving average is $150.63. Intercontinental Exchange, Inc. has a 12-month low of $110.64 and a 12-month high of $167.99. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.68.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.55. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The firm had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same quarter in the prior year, the company posted $1.46 earnings per share. Intercontinental Exchange’s quarterly revenue was up 17.3% on a year-over-year basis. Research analysts expect that Intercontinental Exchange, Inc. will post 6.07 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently commented on ICE shares. Morgan Stanley increased their target price on shares of Intercontinental Exchange from $160.00 to $174.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Barclays dropped their price objective on Intercontinental Exchange from $179.00 to $173.00 and set an “overweight” rating on the stock in a report on Friday, November 1st. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 target price on shares of Intercontinental Exchange in a report on Friday, November 1st. The Goldman Sachs Group raised their price target on Intercontinental Exchange from $171.00 to $185.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Finally, Piper Sandler boosted their price objective on Intercontinental Exchange from $170.00 to $180.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $174.13.

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.