Intercontinental Exchange Inc. (NYSE:ICE) Position Increased by HB Wealth Management LLC

Key Points

• HB Wealth Management LLC increased its holdings in Intercontinental Exchange by 11.0% during the first quarter, owning 82,504 shares valued at approximately $14.23 million as of the latest report.
• Intercontinental Exchange reported a quarterly EPS of $1.72, beating analysts' expectations, with revenues of $2.47 billion for the quarter, reflecting an 8.0% year-over-year growth.
• The company announced a quarterly dividend of $0.48, resulting in an annualized yield of 1.04% and a payout ratio of approximately 39.75%.

HB Wealth Management LLC boosted its position in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 11.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 82,504 shares of the financial services provider's stock after purchasing an additional 8,201 shares during the period. HB Wealth Management LLC's holdings in Intercontinental Exchange were worth $14,232,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in ICE. Brighton Jones LLC raised its holdings in shares of Intercontinental Exchange by 51.3% in the fourth quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider's stock valued at $514,000 after acquiring an additional 1,169 shares in the last quarter. EntryPoint Capital LLC bought a new position in Intercontinental Exchange in the fourth quarter worth approximately $294,000. Modern Wealth Management LLC lifted its holdings in Intercontinental Exchange by 31.5% during the fourth quarter. Modern Wealth Management LLC now owns 1,839 shares of the financial services provider's stock worth $274,000 after buying an additional 441 shares during the period. Korea Investment CORP raised its position in shares of Intercontinental Exchange by 10.9% in the 4th quarter. Korea Investment CORP now owns 414,115 shares of the financial services provider's stock worth $61,707,000 after acquiring an additional 40,838 shares in the last quarter. Finally, Artisan Partners Limited Partnership purchased a new stake in shares of Intercontinental Exchange in the fourth quarter worth about $3,459,000. Institutional investors own 89.30% of the company's stock.

Insider Transactions at Intercontinental Exchange

In other news, CEO Jeffrey C. Sprecher sold 150,000 shares of the firm'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 completion of the sale, the chief executive officer directly owned 2,101,705 shares of the company's stock, valued at $376,667,570.10. This trade represents a 6.66% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Douglas Foley sold 1,600 shares of the firm's stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $177.48, for a total value of $283,968.00. Following the sale, the senior vice president directly owned 27,313 shares of the company's stock, valued at approximately $4,847,511.24. This represents a 5.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 226,119 shares of company stock valued at $40,524,217 in the last quarter. 1.00% of the stock is owned by company insiders.

Intercontinental Exchange Price Performance

Shares of NYSE ICE traded down $1.81 during mid-day trading on Monday, reaching $182.63. 2,353,437 shares of the company traded hands, compared to its average volume of 1,873,904. Intercontinental Exchange Inc. has a fifty-two week low of $142.29 and a fifty-two week high of $185.29. The firm has a market cap of $104.76 billion, a PE ratio of 29.23, a price-to-earnings-growth ratio of 2.02 and a beta of 1.11. The stock has a fifty day simple moving average of $179.80 and a 200-day simple moving average of $170.17. 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 announced its quarterly earnings data on Thursday, May 1st. The financial services provider reported $1.72 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $2.44 billion. During the same quarter in the prior year, the firm posted $1.48 earnings per share. The company's revenue was up 8.0% on a year-over-year basis. Equities research analysts anticipate that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were given a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.05%. Intercontinental Exchange's dividend payout ratio (DPR) is presently 39.75%.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Bank of America dropped their price target on Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating for the company in a research report on Wednesday, April 2nd. Piper Sandler lifted their target price on Intercontinental Exchange from $180.00 to $202.00 and gave the company an "overweight" rating in a research note on Tuesday, July 15th. UBS Group boosted their price objective on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. Keefe, Bruyette & Woods boosted their target price on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Finally, Morgan Stanley increased their price objective on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the company an "equal weight" rating in a research report on Monday, May 5th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company 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.