With this increase in holdings, Intercontinental Exchange constitutes approximately 1.5% of Moreno Evelyn V’s investment portfolio and stands as their 23rd largest holding. As of the most recent filing with the SEC, these holdings are valued at $6,809,000.
Intercontinental Exchange recently announced its earnings results for the quarter ending August 3rd. The financial services provider reported earnings per share (EPS) of $1.43 for the quarter, surpassing analysts’ expectations by $0.06 or approximately a 4% difference. The company recorded revenue of $1.90 billion during this period, slightly exceeding the consensus estimate of $1.89 billion.
Notably, Intercontinental Exchange achieved a net margin of 17.64% and a return on equity of 13.11%. Comparatively, their quarterly revenue increased by 4.7% year-over-year.
In the same period last year, Intercontinental Exchange had earnings per share amounting to $1.32. Equities research analysts predict that for the current fiscal year, Intercontinental Exchange will post an EPS of approximately $5.65.
These developments showcase Moreno Evelyn V’s confidence in Intercontinental Exchange as they continue to increase their holdings in the financial services provider throughout the first quarter. Furthermore, with positive earnings results and strong predicted performance for this fiscal year, Intercontinental Exchange demonstrates its stability and potential for growth in the financial market. Investors and analysts are likely to closely monitor this company moving forward, as it plays a significant role in the industry.
Institutional Investors Bullish on Intercontinental Exchange (NYSE: ICE) as Research Firms Upgrade Ratings
As of September 5, 2023, several institutional investors have been active in the buying and selling of shares of Intercontinental Exchange (NYSE: ICE). GPS Wealth Strategies Group LLC acquired a new position in ICE during the first quarter, purchasing shares worth $25,000. Similarly, OLD Mission Capital LLC purchased shares worth $26,000 in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. witnessed a significant growth in its holdings of ICE by 187.6% during the first quarter. The company now owns 256 shares valued at $26,000 after acquiring an additional 167 shares in the last quarter. Spire Wealth Management also experienced considerable growth in its holdings of ICE by 374.6% during the first quarter and currently owns 299 shares valued at $31,000 after purchasing an extra 236 shares. Lastly, Piscataqua Savings Bank increased its holdings of ICE by 35.1% during the first quarter and now owns 385 shares valued at $40,000 after buying an additional 100 shares.
Overall, hedge funds and other institutional investors hold approximately 87.91% of Intercontinental Exchange’s stock.
Multiple research firms have analyzed and provided their reports on ICE’s performance. Citigroup upgraded their rating from “neutral” to “buy” with a price target increase from $117.00 to $130.00 on August 4th. Raymond James also raised their price target for ICE from $130.00 to $133.00 while giving it a “strong-buy” rating on the same day. Deutsche Bank Aktiengesellschaft boosted their price objective from $125.00 to $126.00 and maintained a “buy” rating on August 4th as well.
In a report published on August 17th StockNews.com issued a “hold” rating for ICE stock, whereas Rosenblatt Securities reiterated their “buy” rating and set a price target of $168.00 on August 4th.
At present, four research analysts have assigned a hold rating to the stock, five recommend buying, and one has given it a strong-buy rating. According to Bloomberg.com, the stock has a consensus rating of “Moderate Buy” with an average price target of $132.60.
In recent news related to Intercontinental Exchange, the company’s CFO, Warren Gardiner, sold 500 shares on June 9th at an average price of $110.52, resulting in a total value of $55,260. Following this transaction, the chief financial officer now holds 16,025 shares valued at $1,771,083. The sale was disclosed in a legal filing with the SEC; details can be found here.
Additionally, President Benjamin Jackson sold 3,000 shares on July 12th at an average price of $115.54. The total transaction value amounted to $346,620. After the sale concluded, the president’s holdings consisted of 125,647 shares valued at approximately $14,517,254.38.
Insider selling within this quarter amounted to 9,136 shares worth around $1,034,539. Currently, insiders own 1.10% of Intercontinental Exchange’s stock.
On Monday NYSE ICE closed at $117.01 after trading down by $0.98 for the day. The company witnessed volume totaling 5,990,700 shares exchanged hands compared to its average volume of 2,
Intercontinental Exchange currently holds a market capitalization of $65.56 billion with a price-to-earnings ratio standing at 38.87 and a P/E/G ratio of 2.36 which indicates reasonable growth prospects for investors’ consideration.
The post Moreno Evelyn V Increases Holdings in Intercontinental Exchange, Inc. Amidst Positive Earnings and Predicted Growth appeared first on Best Stocks.
