World Investment Advisors LLC Grows Position in Intercontinental Exchange, Inc. (NYSE:ICE)

World Investment Advisors LLC raised its holdings in Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) by 759.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 52,946 shares of the financial services provider's stock after purchasing an additional 46,784 shares during the period. World Investment Advisors LLC's holdings in Intercontinental Exchange were worth $8,505,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. New Millennium Group LLC purchased a new stake in Intercontinental Exchange in the 2nd quarter worth $25,000. International Assets Investment Management LLC purchased a new stake in shares of Intercontinental Exchange during the second quarter worth about $25,000. Fairscale Capital LLC acquired a new position in shares of Intercontinental Exchange during the 2nd quarter worth about $25,000. Wolff Wiese Magana LLC lifted its stake in Intercontinental Exchange by 1,470.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider's stock valued at $25,000 after buying an additional 147 shares in the last quarter. Finally, Northwest Investment Counselors LLC acquired a new stake in Intercontinental Exchange in the 3rd quarter worth about $26,000. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, COO Stuart Glen Williams sold 468 shares of the business's stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $162.81, for a total value of $76,195.08. Following the sale, the chief operating officer now owns 13,530 shares in the company, valued at approximately $2,202,819.30. The trade was a 3.34 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Christopher Scott Edmonds sold 602 shares of the firm's stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total value of $98,011.62. Following the transaction, the insider now owns 14,034 shares of the company's stock, valued at $2,284,875.54. This trade represents a 4.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,901 shares of company stock valued at $1,582,542. Company insiders own 1.10% of the company's stock.

Intercontinental Exchange Trading Down 0.5 %

ICE stock traded down $0.86 during midday trading on Friday, hitting $155.69. 708,308 shares of the company's stock were exchanged, compared to its average volume of 2,594,091. Intercontinental Exchange, Inc. has a 1-year low of $121.56 and a 1-year 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. The stock has a market capitalization of $89.39 billion, a PE ratio of 36.91, a P/E/G ratio of 2.61 and a beta of 1.08. The business has a 50-day simple moving average of $160.04 and a two-hundred day simple moving average of $153.11.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.55. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The firm had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same period in the previous year, the firm earned $1.46 EPS. Intercontinental Exchange's revenue was up 17.3% on a year-over-year basis. On average, sell-side analysts predict that Intercontinental Exchange, Inc. will post 6.07 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ICE has been the topic of several research reports. Bank of America raised their target price on Intercontinental Exchange from $168.00 to $175.00 and gave the company a "buy" rating in a research report on Thursday, October 3rd. Piper Sandler lifted their target price 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. Raymond James cut shares of Intercontinental Exchange from a "strong-buy" rating to an "outperform" rating and set a $185.00 target price for the company. in a research report on Monday, October 14th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Intercontinental Exchange from $160.00 to $163.00 and gave the stock a "hold" rating in a research note on Monday, November 11th. Finally, Morgan Stanley increased their price objective on shares of Intercontinental Exchange from $160.00 to $174.00 and gave the company an "equal weight" rating in a report on Thursday, October 17th. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $175.07.

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.