Meridian Wealth Advisors LLC Sells 36,801 Shares of Intercontinental Exchange Inc. (NYSE:ICE)

Meridian Wealth Advisors LLC trimmed its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 96.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,442 shares of the financial services provider's stock after selling 36,801 shares during the quarter. Meridian Wealth Advisors LLC's holdings in Intercontinental Exchange were worth $249,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in ICE. REAP Financial Group LLC grew its position in Intercontinental Exchange by 116.7% during the fourth quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider's stock valued at $25,000 after buying an additional 91 shares during the period. Tsfg LLC lifted its holdings in Intercontinental Exchange by 187.3% during the first quarter. Tsfg LLC now owns 158 shares of the financial services provider's stock valued at $27,000 after purchasing an additional 103 shares in the last quarter. Menard Financial Group LLC purchased a new position in Intercontinental Exchange during the fourth quarter valued at approximately $29,000. Rakuten Securities Inc. lifted its holdings in Intercontinental Exchange by 595.8% during the first quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 143 shares in the last quarter. Finally, Global Trust Asset Management LLC purchased a new position in Intercontinental Exchange during the first quarter valued at approximately $31,000. 89.30% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Jeffrey C. Sprecher sold 150,000 shares of the 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 sale, the chief executive officer owned 2,101,705 shares of the company's stock, valued at approximately $376,667,570.10. This represents a 6.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Sharon Bowen sold 795 shares of the stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $183.30, for a total transaction of $145,723.50. Following the completion of the sale, the director directly owned 15,000 shares in the company, valued at approximately $2,749,500. This represents a 5.03% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 226,119 shares of company stock valued at $40,524,217. 1.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on ICE shares. UBS Group lifted their price target on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Keefe, Bruyette & Woods lifted their price target 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. Piper Sandler lifted their price target on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. Barclays lifted their price target on shares of Intercontinental Exchange from $198.00 to $206.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Finally, 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 report on Monday, May 5th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $194.42.

Intercontinental Exchange Price Performance

Intercontinental Exchange stock opened at $180.66 on Friday. The company has a market cap of $103.63 billion, a price-to-earnings ratio of 37.40, a PEG ratio of 1.98 and a beta of 1.11. The firm's fifty day moving average is $178.95 and its 200 day moving average is $168.80. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.62. Intercontinental Exchange Inc. has a 52-week low of $142.29 and a 52-week high of $183.99.

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 (EPS) for the quarter, beating analysts' consensus estimates of $1.70 by $0.02. The company 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%. Intercontinental Exchange's revenue was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.48 earnings per share. Sell-side analysts forecast that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were given 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 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.

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