Invera Wealth Advisors LLC Reduces Position in Intercontinental Exchange Inc. (NYSE:ICE)

Invera Wealth Advisors LLC lessened its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 13.4% in the first quarter, according to its most recent filing with the SEC. The firm owned 11,248 shares of the financial services provider's stock after selling 1,739 shares during the period. Intercontinental Exchange accounts for 2.3% of Invera Wealth Advisors LLC's portfolio, making the stock its 16th largest position. Invera Wealth Advisors LLC's holdings in Intercontinental Exchange were worth $1,940,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. GPS Wealth Strategies Group LLC boosted its stake in 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 last quarter. Values Added Financial LLC lifted its holdings in shares of Intercontinental Exchange by 4.4% during the first quarter. Values Added Financial LLC now owns 1,533 shares of the financial services provider's stock valued at $264,000 after purchasing an additional 64 shares in the last quarter. MV Capital Management Inc. boosted its position in shares of Intercontinental Exchange by 15.7% during the first quarter. MV Capital Management Inc. now owns 501 shares of the financial services provider's stock valued at $86,000 after buying an additional 68 shares during the last quarter. Quadcap Wealth Management LLC boosted its position in shares of Intercontinental Exchange by 1.2% during the fourth quarter. Quadcap Wealth Management LLC now owns 6,162 shares of the financial services provider's stock valued at $918,000 after buying an additional 71 shares during the last quarter. Finally, Colonial Trust Co SC increased its holdings in Intercontinental Exchange by 11.7% in the 4th quarter. Colonial Trust Co SC now owns 687 shares of the financial services provider's stock worth $102,000 after buying an additional 72 shares in the last quarter. Institutional investors own 89.30% of the company's stock.

Intercontinental Exchange Stock Down 1.1%

NYSE ICE traded down $2.02 during trading on Tuesday, reaching $179.80. 1,512,989 shares of the company's stock traded hands, compared to its average volume of 2,959,801. Intercontinental Exchange Inc. has a 12-month low of $142.29 and a 12-month high of $183.99. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market cap of $103.14 billion, a price-to-earnings ratio of 37.23, a price-to-earnings-growth ratio of 1.97 and a beta of 1.11. The company's 50 day simple moving average is $178.63 and its two-hundred day simple moving average is $168.06.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last released its quarterly earnings results 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. The business had revenue of $2.47 billion for the quarter, compared to analysts' expectations of $2.44 billion. Intercontinental Exchange had a net margin of 22.84% and a return on equity of 13.27%. The company's revenue was up 8.0% compared to the same quarter last year. During the same period last year, the business earned $1.48 EPS. As a group, sell-side analysts forecast that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.07%. Intercontinental Exchange's dividend payout ratio is presently 39.75%.

Insider Activity

In other Intercontinental Exchange news, CEO Jeffrey C. Sprecher sold 150,000 shares of the firm's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $179.22, for a total value of $26,883,000.00. Following the completion of the transaction, the chief executive officer owned 2,101,705 shares of the company's stock, valued at approximately $376,667,570.10. This trade represents a 6.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 3,848 shares of Intercontinental Exchange stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $179.12, for a total value of $689,253.76. Following the sale, the general counsel directly owned 48,480 shares of the company's stock, valued at $8,683,737.60. This trade represents a 7.35% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 228,749 shares of company stock valued at $40,942,387. 1.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

ICE has been the topic of a number of research analyst reports. Piper Sandler increased their price objective on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the company an "overweight" rating in a research report on Tuesday. Keefe, Bruyette & Woods increased their price target on Intercontinental Exchange from $183.00 to $189.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. UBS Group lifted their price objective on Intercontinental Exchange from $195.00 to $210.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Barclays raised their target price on Intercontinental Exchange from $198.00 to $206.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Finally, Morgan Stanley raised their price objective 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. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $194.42.

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.