Smallwood Wealth Investment Management LLC Has $5.98 Million Holdings in Intercontinental Exchange Inc. (NYSE:ICE)

Smallwood Wealth Investment Management LLC cut its position in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 10.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 34,639 shares of the financial services provider's stock after selling 3,865 shares during the period. Intercontinental Exchange comprises about 3.8% of Smallwood Wealth Investment Management LLC's portfolio, making the stock its 5th largest position. Smallwood Wealth Investment Management LLC's holdings in Intercontinental Exchange were worth $5,975,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Tsfg LLC lifted its position in Intercontinental Exchange by 187.3% in the 1st quarter. Tsfg LLC now owns 158 shares of the financial services provider's stock valued at $27,000 after acquiring an additional 103 shares in the last quarter. Rakuten Securities Inc. increased its stake in Intercontinental Exchange by 595.8% in the 1st quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider's stock valued at $29,000 after buying an additional 143 shares during the last quarter. REAP Financial Group LLC increased its stake in Intercontinental Exchange by 116.7% in the 4th 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 last quarter. Global Trust Asset Management LLC acquired a new stake in Intercontinental Exchange in the 1st quarter valued at $31,000. Finally, Menard Financial Group LLC acquired a new stake in Intercontinental Exchange in the 4th quarter valued at $29,000. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on ICE. 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 research note on Friday, May 2nd. Barclays boosted their price objective on shares of Intercontinental Exchange from $189.00 to $198.00 and gave the stock an "overweight" rating in a research note on Friday, May 2nd. Morgan Stanley boosted their price objective on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the stock an "equal weight" rating in a research note on Monday, May 5th. Finally, Bank of America lowered their price objective on shares of Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating on the stock in a research note on Wednesday, April 2nd. Three research analysts have rated the stock with a hold rating and eleven have given 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 target price of $188.46.

Intercontinental Exchange Stock Performance

NYSE ICE traded up $1.19 during trading on Thursday, reaching $182.93. The company's stock had a trading volume of 1,081,141 shares, compared to its average volume of 2,986,241. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $104.93 billion, a price-to-earnings ratio of 37.87, a price-to-earnings-growth ratio of 1.96 and a beta of 1.11. Intercontinental Exchange Inc. has a 12 month low of $139.61 and a 12 month high of $183.76. The firm has a 50 day moving average price of $176.36 and a 200 day moving average price of $166.10.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last posted its quarterly earnings data 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. Intercontinental Exchange had a net margin of 22.84% and a return on equity of 13.27%. The firm had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.44 billion. During the same quarter in the previous year, the firm posted $1.48 EPS. The business's revenue for the quarter was up 8.0% compared to the same quarter last year. As a group, equities analysts anticipate that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 1.05%. Intercontinental Exchange's dividend payout ratio (DPR) is presently 39.75%.

Insider Activity at Intercontinental Exchange

In other news, General Counsel Andrew J. Surdykowski sold 3,848 shares of the company's 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 owned 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Sharon Bowen sold 795 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $183.30, for a total transaction of $145,723.50. Following the sale, the director directly owned 15,000 shares of the company's stock, valued at approximately $2,749,500. This trade represents a 5.03% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 228,749 shares of company stock worth $40,942,387 in the last 90 days. Corporate insiders own 1.00% of the company's stock.

About Intercontinental Exchange

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.