Sowell Financial Services LLC Invests $949,000 in Intercontinental Exchange Inc. (NYSE:ICE)

Sowell Financial Services LLC bought a new stake in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 5,501 shares of the financial services provider's stock, valued at approximately $949,000.

Several other large investors also recently added to or reduced their stakes in ICE. Brighton Jones LLC grew its holdings in shares of Intercontinental Exchange by 51.3% during the 4th quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider's stock valued at $514,000 after acquiring an additional 1,169 shares in the last quarter. Sierra Ocean LLC bought a new stake in Intercontinental Exchange in the fourth quarter worth $25,000. Venturi Wealth Management LLC boosted its holdings in Intercontinental Exchange by 786.5% in the fourth quarter. Venturi Wealth Management LLC now owns 3,280 shares of the financial services provider's stock worth $489,000 after purchasing an additional 2,910 shares in the last quarter. Kestra Investment Management LLC bought a new stake in Intercontinental Exchange in the fourth quarter worth $122,000. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in Intercontinental Exchange in the fourth quarter worth $1,346,000. 89.30% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Judith A. Sprieser sold 2,630 shares of the stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $159.00, for a total value of $418,170.00. Following the completion of the transaction, the director now owns 21,364 shares of the company's stock, valued at $3,396,876. This represents a 10.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Douglas Foley sold 1,600 shares of the stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $177.48, for a total transaction of $283,968.00. Following the completion of the transaction, the senior vice president now directly owns 27,313 shares of the company's stock, valued at $4,847,511.24. This trade 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. Corporate insiders own 1.00% of the company's stock.

Intercontinental Exchange Stock Performance

Shares of ICE traded down $1.50 during trading hours on Friday, reaching $178.27. 3,910,144 shares of the company traded hands, compared to its average volume of 3,023,875. The stock's fifty day moving average is $172.32 and its 200 day moving average is $164.58. The stock has a market cap of $102.26 billion, a P/E ratio of 36.91, a price-to-earnings-growth ratio of 1.94 and a beta of 1.12. 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 1-year low of $136.08 and a 1-year high of $182.11.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $2.44 billion. During the same quarter in the prior year, the business posted $1.48 earnings per share. The company's quarterly revenue was up 8.0% compared to the same quarter last year. Equities research analysts anticipate that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be given a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.08%. Intercontinental Exchange's dividend payout ratio (DPR) is presently 39.75%.

Analysts Set New Price Targets

A number of research firms have issued reports on ICE. Barclays upped their price target on shares of Intercontinental Exchange from $189.00 to $198.00 and gave the company an "overweight" rating in a report on Friday, May 2nd. Keefe, Bruyette & Woods upped 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. Bank of America decreased their price target on shares of Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. Finally, Morgan Stanley upped 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 investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat.com, Intercontinental Exchange presently has a consensus rating of "Moderate Buy" and an average target price of $188.46.

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.