Redmont Wealth Advisors LLC Makes New $26,000 Investment in Intercontinental Exchange, Inc. (NYSE:ICE)

Redmont Wealth Advisors LLC bought a new position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 187 shares of the financial services provider’s stock, valued at approximately $26,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ICE. Scarborough Advisors LLC bought a new stake in Intercontinental Exchange during the fourth quarter worth $25,000. Annapolis Financial Services LLC lifted its stake in shares of 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 valued at $25,000 after acquiring an additional 163 shares during the last quarter. Fortitude Family Office LLC bought a new position in shares of Intercontinental Exchange in the 4th quarter valued at $28,000. Stuart Chaussee & Associates Inc. bought a new position in shares of Intercontinental Exchange in the 4th quarter valued at $28,000. Finally, Altshuler Shaham Ltd bought a new position in shares of Intercontinental Exchange in the 4th quarter valued at $29,000. 89.30% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, General Counsel Andrew J. Surdykowski sold 341 shares of the firm’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $131.74, for a total value of $44,923.34. Following the completion of the sale, the general counsel now directly owns 48,713 shares in the company, valued at approximately $6,417,450.62. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, General Counsel Andrew J. Surdykowski sold 341 shares of the firm’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $131.74, for a total value of $44,923.34. Following the completion of the sale, the general counsel now directly owns 48,713 shares in the company, valued at approximately $6,417,450.62. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Intercontinental Exchange, Inc bought 350,880 shares of Intercontinental Exchange stock in a transaction dated Thursday, April 25th. The stock was purchased at an average price of $0.87 per share, with a total value of $305,265.60. Following the completion of the purchase, the insider now owns 649,934 shares in the company, valued at $565,442.58. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 4,506 shares of company stock worth $609,374. Company insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on ICE. JPMorgan Chase & Co. increased their price target on Intercontinental Exchange from $147.00 to $151.00 and gave the company an “overweight” rating in a research note on Friday, May 3rd. Morgan Stanley increased their price target on Intercontinental Exchange from $139.00 to $142.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. Barclays dropped their price target on Intercontinental Exchange from $155.00 to $150.00 and set an “overweight” rating for the company in a research note on Friday, May 3rd. Argus restated a “buy” rating and issued a $153.00 price objective on shares of Intercontinental Exchange in a report on Tuesday, May 21st. Finally, Keefe, Bruyette & Woods decreased their price objective on Intercontinental Exchange from $156.00 to $155.00 and set an “outperform” rating for the company in a report on Friday, May 3rd. Two equities 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 company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $151.29.

Intercontinental Exchange Stock Performance

Shares of Intercontinental Exchange stock opened at $141.14 on Thursday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.76. The business has a 50-day moving average price of $134.79 and a two-hundred day moving average price of $133.12. Intercontinental Exchange, Inc. has a 1-year low of $104.49 and a 1-year high of $141.59. The company has a market cap of $80.96 billion, a P/E ratio of 32.37, a PEG ratio of 2.62 and a beta of 1.06.

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

Intercontinental Exchange 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.