Caliber Wealth Management LLC KS Takes $694,000 Position in Intercontinental Exchange Inc. (NYSE:ICE)

Key Points

• Caliber Wealth Management LLC invested approximately $694,000 in a new position in Intercontinental Exchange, acquiring 4,026 shares in the 1st quarter.
• Intercontinental Exchange's recent quarterly earnings demonstrated a net margin of 22.84% and EPS of $1.72, surpassing analysts' expectations.
• The company declared a quarterly dividend of $0.48 per share, resulting in an annualized payout of $1.92 and a dividend yield of 1.04%.

Caliber Wealth Management LLC KS acquired a new stake in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 4,026 shares of the financial services provider's stock, valued at approximately $694,000.

Several other institutional investors and hedge funds have also modified their holdings of ICE. REAP Financial Group LLC increased its position in shares of Intercontinental Exchange by 116.7% in the fourth quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider's stock worth $25,000 after acquiring an additional 91 shares in the last quarter. Tsfg LLC increased its position in shares of Intercontinental Exchange by 187.3% in the first quarter. Tsfg LLC now owns 158 shares of the financial services provider's stock worth $27,000 after acquiring an additional 103 shares in the last quarter. Menard Financial Group LLC acquired a new stake in shares of Intercontinental Exchange in the fourth quarter worth $29,000. Rakuten Securities Inc. increased its position in shares of Intercontinental Exchange by 595.8% in the first quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider's stock worth $29,000 after acquiring an additional 143 shares in the last quarter. Finally, Global Trust Asset Management LLC acquired a new stake in shares of Intercontinental Exchange in the first quarter worth $31,000. Hedge funds and other institutional investors own 89.30% of the company's stock.

Insider Buying and Selling

In related news, Director Sharon Bowen sold 795 shares of the business's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $183.30, for a total transaction of $145,723.50. Following the transaction, the director owned 15,000 shares of the company's stock, valued at approximately $2,749,500. The trade was a 5.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the business's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $179.22, for a total transaction of $26,883,000.00. Following the transaction, the chief executive officer directly owned 2,101,705 shares in the company, valued at $376,667,570.10. This trade represents a 6.66% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 226,913 shares of company stock valued at $40,671,107. 1.00% of the stock is owned by corporate insiders.

Intercontinental Exchange Stock Up 1.0%

Shares of ICE stock traded up $1.82 during trading on Wednesday, hitting $186.53. 854,522 shares of the company were exchanged, compared to its average volume of 2,957,740. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a market capitalization of $107.00 billion, a price-to-earnings ratio of 38.63, a P/E/G ratio of 2.00 and a beta of 1.11. The business's 50-day simple moving average is $180.10 and its 200 day simple moving average is $170.55. Intercontinental Exchange Inc. has a twelve month low of $142.29 and a twelve month high of $186.59.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The financial services provider reported $1.72 EPS for the quarter, topping the consensus estimate of $1.70 by $0.02. The business had revenue of $2.47 billion during the quarter, compared to analysts' expectations of $2.44 billion. Intercontinental Exchange had a net margin of 22.84% and a return on equity of 13.27%. The firm's quarterly revenue was up 8.0% compared to the same quarter last year. During the same period last year, the company posted $1.48 earnings per share. As a group, analysts forecast that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 1.03%. Intercontinental Exchange's dividend payout ratio (DPR) is presently 39.75%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. UBS Group raised their price target on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Morgan Stanley raised their price target on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the company an "equal weight" rating in a report on Monday, May 5th. Barclays raised their price target on shares of Intercontinental Exchange from $198.00 to $206.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Bank of America reduced their price objective on shares of Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating on the stock in a research note on Wednesday, April 2nd. Finally, Piper Sandler increased their price objective on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the company an "overweight" rating in a research note on Tuesday, July 15th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $194.42.

Intercontinental Exchange Company 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.