Sagespring Wealth Partners LLC Has $1.56 Million Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Sagespring Wealth Partners LLC reduced its stake in Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) by 22.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,051 shares of the financial services provider's stock after selling 2,683 shares during the period. Sagespring Wealth Partners LLC's holdings in Intercontinental Exchange were worth $1,561,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. REAP Financial Group LLC increased its holdings in shares of Intercontinental Exchange by 116.7% in the fourth 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. Sierra Ocean LLC acquired a new position in shares of Intercontinental Exchange in the fourth quarter valued at $25,000. Menard Financial Group LLC acquired a new position in shares of Intercontinental Exchange in the fourth quarter valued at $29,000. Redwood Park Advisors LLC acquired a new position in shares of Intercontinental Exchange in the fourth quarter valued at $33,000. Finally, Lee Danner & Bass Inc. acquired a new position in shares of Intercontinental Exchange in the fourth quarter valued at $34,000. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ICE. Morgan Stanley boosted their target price 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. Barclays boosted their target price on shares of Intercontinental Exchange from $189.00 to $198.00 and gave the company an "overweight" rating in a research report on Friday, May 2nd. 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 research report on Friday, May 2nd. Finally, Bank of America cut 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 report on Wednesday, April 2nd. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $188.46.

Intercontinental Exchange Stock Performance

Intercontinental Exchange stock opened at $179.67 on Tuesday. The business has a 50 day moving average of $170.89 and a 200-day moving average of $164.21. Intercontinental Exchange, Inc. has a 1 year low of $133.97 and a 1 year high of $181.63. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.99. The company has a market capitalization of $103.06 billion, a P/E ratio of 37.59, a P/E/G ratio of 2.10 and a beta of 1.12.

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 (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.02. Intercontinental Exchange had a return on equity of 12.95% and a net margin of 23.42%. The company had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.44 billion. During the same quarter in the prior year, the firm posted $1.48 earnings per share. The firm's revenue was up 8.0% compared to the same quarter last year. On average, equities research analysts predict that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be paid a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 1.07%. Intercontinental Exchange's dividend payout ratio is currently 39.75%.

Insider Activity

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 3,848 shares of the stock in a transaction that occurred 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 completion of the sale, the general counsel now owns 48,480 shares of the company's stock, valued at approximately $8,683,737.60. This represents a 7.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Douglas Foley sold 1,600 shares of the stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $177.48, for a total transaction of $283,968.00. Following the sale, the senior vice president now directly owns 27,313 shares of the company's stock, valued at $4,847,511.24. This represents a 5.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold 227,954 shares of company stock valued at $40,796,663 over the last quarter. 1.00% of the stock is owned by company insiders.

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.

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