Elyxium Wealth LLC Takes Position in Intercontinental Exchange Inc. (NYSE:ICE)

Elyxium Wealth LLC bought a new stake in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 5,025 shares of the financial services provider's stock, valued at approximately $867,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Berkeley Capital Partners LLC raised its holdings in 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 last quarter. South Dakota Investment Council lifted its position in Intercontinental Exchange by 4.7% during the first quarter. South Dakota Investment Council now owns 11,111 shares of the financial services provider's stock valued at $1,917,000 after purchasing an additional 500 shares in the last quarter. Kestra Private Wealth Services LLC grew its stake in shares of Intercontinental Exchange by 2.0% during the 1st quarter. Kestra Private Wealth Services LLC now owns 75,453 shares of the financial services provider's stock valued at $13,016,000 after acquiring an additional 1,483 shares during the period. Atlas Wealth Partners LLC purchased a new stake in shares of Intercontinental Exchange in the first quarter worth $214,000. Finally, FAS Wealth Partners Inc. purchased a new position in shares of Intercontinental Exchange in the first quarter valued at about $217,000. 89.30% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ICE has been the subject of a number of research reports. Bank of America decreased their target price on Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. Morgan Stanley boosted their price target 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. Piper Sandler raised their price target 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. 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 research note on Friday, May 2nd. Finally, Barclays increased their target price on Intercontinental Exchange from $198.00 to $206.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $194.42.

Intercontinental Exchange Stock Down 0.7%

ICE stock opened at $180.66 on Friday. 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 Inc. has a 12 month low of $142.29 and a 12 month high of $183.99. The firm has a market capitalization of $103.63 billion, a PE ratio of 37.40, a P/E/G ratio of 1.98 and a beta of 1.11. The company's 50 day simple moving average is $178.95 and its 200-day simple moving average is $168.80.

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

Intercontinental Exchange Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.06%. Intercontinental Exchange's payout ratio is 39.75%.

Insider Buying and Selling at Intercontinental Exchange

In other news, General Counsel Andrew J. Surdykowski sold 3,848 shares of the firm's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $179.12, for a total transaction of $689,253.76. Following the completion of the sale, the general counsel directly owned 48,480 shares in the company, valued at $8,683,737.60. This trade represents a 7.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Sharon Bowen sold 795 shares of Intercontinental Exchange stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $183.30, for a total value of $145,723.50. Following the sale, the director directly owned 15,000 shares in the company, valued at approximately $2,749,500. The trade was a 5.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 226,119 shares of company stock worth $40,524,217. Corporate insiders own 1.00% of the company's stock.

About Intercontinental Exchange

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.

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