44 Wealth Management LLC Increases Stock Holdings in Intercontinental Exchange Inc. (NYSE:ICE)

44 Wealth Management LLC raised its position in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 49.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 12,606 shares of the financial services provider's stock after purchasing an additional 4,174 shares during the quarter. 44 Wealth Management LLC's holdings in Intercontinental Exchange were worth $2,175,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Vanguard Group Inc. grew its position in Intercontinental Exchange by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 52,228,177 shares of the financial services provider's stock valued at $7,782,521,000 after buying an additional 538,670 shares during the period. Geode Capital Management LLC boosted its stake in shares of Intercontinental Exchange by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 11,883,252 shares of the financial services provider's stock worth $1,765,317,000 after acquiring an additional 327,637 shares during the last quarter. Royal Bank of Canada grew its position in shares of Intercontinental Exchange by 132.9% during the 4th quarter. Royal Bank of Canada now owns 9,121,352 shares of the financial services provider's stock valued at $1,359,173,000 after acquiring an additional 5,204,309 shares during the period. Norges Bank purchased a new stake in shares of Intercontinental Exchange in the 4th quarter worth $1,196,258,000. Finally, Northern Trust Corp raised its holdings in Intercontinental Exchange by 9.7% in the 4th quarter. Northern Trust Corp now owns 7,422,007 shares of the financial services provider's stock worth $1,105,953,000 after purchasing an additional 655,247 shares during the period. 89.30% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ICE. Keefe, Bruyette & Woods lifted their price objective on Intercontinental Exchange from $183.00 to $189.00 and gave the company an "outperform" rating in a research report on Friday, May 2nd. Bank of America reduced their price objective on shares of Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. Morgan Stanley raised 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. Finally, Barclays upped 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 research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $188.46.

Insider Activity

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 value of $145,723.50. Following the sale, the director 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 3,848 shares of the company's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $179.12, for a total transaction of $689,253.76. Following the sale, the general counsel directly owned 48,480 shares in the company, valued at approximately $8,683,737.60. The trade was a 7.35% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 228,749 shares of company stock worth $40,942,387. 1.00% of the stock is owned by corporate insiders.

Intercontinental Exchange Price Performance

Shares of ICE traded up $1.37 during midday trading on Friday, hitting $183.11. 1,082,826 shares of the company traded hands, compared to its average volume of 2,989,912. The stock has a market cap of $105.04 billion, a price-to-earnings ratio of 37.91, a PEG ratio of 1.98 and a beta of 1.11. The firm has a 50 day moving average of $176.76 and a 200-day moving average of $166.29. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.00 and a current ratio of 1.00. Intercontinental Exchange Inc. has a 52 week low of $139.61 and a 52 week high of $183.76.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last announced its quarterly earnings results 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. The company had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.44 billion. Intercontinental Exchange had a return on equity of 13.27% and a net margin of 22.84%. The firm's revenue was up 8.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.48 earnings per share. On average, analysts forecast that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 1.05%. Intercontinental Exchange's dividend payout ratio (DPR) is 39.75%.

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.