Cadence Bank Purchases Shares of 1,448 Intercontinental Exchange, Inc. (NYSE:ICE)

Cadence Bank acquired a new position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,448 shares of the financial services provider’s stock, valued at approximately $233,000.

A number of other institutional investors and hedge funds have also made changes to their positions in ICE. Wolff Wiese Magana LLC grew its holdings in Intercontinental Exchange by 1,470.0% during the 3rd quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 147 shares in the last quarter. Northwest Investment Counselors LLC purchased a new stake in shares of Intercontinental Exchange during the 3rd quarter worth $26,000. Financial Management Professionals Inc. grew its stake in shares of Intercontinental Exchange by 106.1% during the third quarter. Financial Management Professionals Inc. now owns 169 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 87 shares in the last quarter. Fairscale Capital LLC purchased a new position in Intercontinental Exchange in the second quarter valued at $25,000. Finally, Capital Performance Advisors LLP acquired a new stake in Intercontinental Exchange in the third quarter valued at $29,000. 89.30% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Intercontinental Exchange

In related news, CFO Warren Gardiner sold 750 shares of Intercontinental Exchange stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $161.43, for a total value of $121,072.50. Following the sale, the chief financial officer now directly owns 16,576 shares in the company, valued at $2,675,863.68. The trade was a 4.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Stuart Glen Williams sold 468 shares of the 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 completion of the transaction, the chief operating officer now owns 13,530 shares of the company’s stock, valued at $2,202,819.30. The trade was a 3.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,696 shares of company stock worth $1,554,559 over the last ninety days. 1.10% of the stock is currently owned by company insiders.

Intercontinental Exchange Trading Up 0.4 %

Shares of ICE stock opened at $161.19 on Friday. The company has a market capitalization of $92.55 billion, a P/E ratio of 38.20, a price-to-earnings-growth ratio of 2.64 and a beta of 1.08. 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 business’s 50 day moving average is $160.59 and its two-hundred day moving average is $151.66. Intercontinental Exchange, Inc. has a twelve month low of $111.82 and a twelve month high of $167.99.

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

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ICE. The Goldman Sachs Group upped their price objective on Intercontinental Exchange from $171.00 to $185.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Piper Sandler raised their price objective on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Royal Bank of Canada restated an “outperform” rating and set a $200.00 price objective on shares of Intercontinental Exchange in a research report on Friday, November 1st. Deutsche Bank Aktiengesellschaft increased their target price on shares of Intercontinental Exchange from $160.00 to $163.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Intercontinental Exchange from $171.00 to $188.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $174.13.

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.