Hartmann Taylor Wealth Management LLC Acquires New Shares in Intercontinental Exchange Inc. (NYSE:ICE)

Hartmann Taylor Wealth Management LLC purchased a new stake in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 2,147 shares of the financial services provider's stock, valued at approximately $370,000.

Other large investors have also recently added to or reduced their stakes in the company. Rakuten Securities Inc. increased its position in Intercontinental Exchange by 595.8% in the 1st quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 143 shares in the last quarter. REAP Financial Group LLC boosted its stake in shares of Intercontinental Exchange by 116.7% in the 4th quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 91 shares during the last quarter. Global Trust Asset Management LLC bought a new position in shares of Intercontinental Exchange in the 1st quarter valued at about $31,000. Menard Financial Group LLC bought a new position in shares of Intercontinental Exchange in the 4th quarter valued at about $29,000. Finally, Redwood Park Advisors LLC bought a new position in shares of Intercontinental Exchange in the 4th quarter valued at about $33,000. Institutional investors and hedge funds own 89.30% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Keefe, Bruyette & Woods lifted their price objective on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Morgan Stanley lifted their price target on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the company an "equal weight" rating in a research note on Monday, May 5th. Bank of America lowered their price objective on shares of Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. Finally, Barclays boosted their target price on shares of Intercontinental Exchange from $189.00 to $198.00 and gave the stock an "overweight" rating in a report on Friday, May 2nd. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Intercontinental Exchange currently has an average rating of "Moderate Buy" and an average target price of $188.46.

Intercontinental Exchange Stock Up 0.5%

Shares of ICE traded up $0.94 during trading hours on Friday, reaching $181.74. The stock had a trading volume of 2,137,138 shares, compared to its average volume of 3,000,415. Intercontinental Exchange Inc. has a 12 month low of $136.25 and a 12 month high of $182.61. The company has a market capitalization of $104.25 billion, a price-to-earnings ratio of 37.63, a P/E/G ratio of 1.96 and a beta of 1.12. The firm has a 50-day simple moving average of $174.95 and a 200 day simple moving average of $165.62. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.62.

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

Intercontinental Exchange Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 1.06%. Intercontinental Exchange's dividend payout ratio (DPR) is presently 39.75%.

Insider Buying and Selling

In other news, SVP Douglas Foley sold 1,600 shares of the business's stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $177.48, for a total value of $283,968.00. Following the completion of the sale, the senior vice president now directly owns 27,313 shares in the company, valued at approximately $4,847,511.24. The trade was a 5.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the company's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $179.22, for a total transaction of $26,883,000.00. Following the sale, the chief executive officer now owns 2,101,705 shares of the company's stock, valued at $376,667,570.10. This represents a 6.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 227,954 shares of company stock worth $40,796,663. 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.