Cetera Investment Advisers Acquires 6,164 Shares of Intercontinental Exchange Inc. (NYSE:ICE)

Key Points

• Cetera Investment Advisers increased its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 8.8% during the first quarter, owning a total of 76,544 shares valued at approximately $13.2 million.
• Intercontinental Exchange reported $1.72 earnings per share for the last quarter, surpassing the consensus estimate of $1.70, with revenues up 8.0% year-over-year.
• The firm announced a quarterly dividend of $0.48 per share, reflecting an annualized yield of 1.04% and a payout ratio of 39.75%.

Cetera Investment Advisers increased its holdings in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 8.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 76,544 shares of the financial services provider's stock after buying an additional 6,164 shares during the period. Cetera Investment Advisers' holdings in Intercontinental Exchange were worth $13,204,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Berkeley Capital Partners LLC lifted its stake in shares of Intercontinental Exchange by 1.1% in the 1st quarter. Berkeley Capital Partners LLC now owns 5,639 shares of the financial services provider's stock worth $973,000 after acquiring an additional 62 shares during the period. GPS Wealth Strategies Group LLC increased its position in shares of Intercontinental Exchange by 17.2% during the 1st quarter. GPS Wealth Strategies Group LLC now owns 430 shares of the financial services provider's stock valued at $74,000 after purchasing an additional 63 shares during the period. Values Added Financial LLC lifted its holdings in shares of Intercontinental Exchange by 4.4% in the first quarter. Values Added Financial LLC now owns 1,533 shares of the financial services provider's stock valued at $264,000 after buying an additional 64 shares during the period. MV Capital Management Inc. boosted its position in shares of Intercontinental Exchange by 15.7% during the 1st quarter. MV Capital Management Inc. now owns 501 shares of the financial services provider's stock valued at $86,000 after purchasing an additional 68 shares in the last quarter. Finally, Quadcap Wealth Management LLC grew its stake in shares of Intercontinental Exchange by 1.2% in the 4th quarter. Quadcap Wealth Management LLC now owns 6,162 shares of the financial services provider's stock worth $918,000 after purchasing an additional 71 shares during the last quarter. 89.30% of the stock is owned by institutional investors.

Intercontinental Exchange Stock Up 0.8%

Shares of ICE stock traded up $1.47 on Wednesday, hitting $186.18. The company's stock had a trading volume of 3,506,659 shares, compared to its average volume of 1,871,467. The stock has a market capitalization of $106.80 billion, a price-to-earnings ratio of 38.55, a P/E/G ratio of 2.02 and a beta of 1.11. Intercontinental Exchange Inc. has a fifty-two week low of $142.29 and a fifty-two week high of $187.38. The firm's fifty day moving average price is $180.10 and its 200-day moving average price is $170.55. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.00 and a quick ratio of 1.00.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The financial services provider reported $1.72 EPS for the quarter, beating analysts' consensus estimates of $1.70 by $0.02. Intercontinental Exchange had a return on equity of 13.27% and a net margin of 22.84%. The business had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.44 billion. During the same quarter in the prior year, the firm posted $1.48 EPS. The firm's revenue for the quarter was up 8.0% on a year-over-year basis. Research analysts anticipate that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors 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 payout ratio is presently 39.75%.

Wall Street Analyst Weigh In

ICE has been the subject of a number of research reports. Piper Sandler raised their target price on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. Keefe, Bruyette & Woods boosted their price objective on Intercontinental Exchange from $183.00 to $189.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. Morgan Stanley raised their target price on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the stock an "equal weight" rating in a report on Monday, May 5th. Bank of America reduced their price target on shares of Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating for the company in a research report on Wednesday, April 2nd. Finally, Barclays boosted their target price on shares of Intercontinental Exchange from $198.00 to $206.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $194.42.

Insider Transactions at Intercontinental Exchange

In other news, CAO James W. Namkung sold 612 shares of the firm's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $180.00, for a total value of $110,160.00. Following the sale, the chief accounting officer directly owned 13,220 shares of the company's stock, valued at approximately $2,379,600. This trade represents a 4.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the business's stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $179.22, for a total value of $26,883,000.00. Following the transaction, the chief executive officer directly owned 2,101,705 shares of the company's stock, valued at $376,667,570.10. This represents a 6.66% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 226,913 shares of company stock worth $40,671,107. Corporate insiders own 1.00% of the company's stock.

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.