Waterfront Wealth Inc. Sells 1,681 Shares of Intercontinental Exchange Inc. (NYSE:ICE)

Waterfront Wealth Inc. reduced its position in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 16.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,448 shares of the financial services provider's stock after selling 1,681 shares during the period. Waterfront Wealth Inc.'s holdings in Intercontinental Exchange were worth $1,457,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. REAP Financial Group LLC raised its position 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. Tsfg LLC raised 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 buying an additional 103 shares during the last quarter. Menard Financial Group LLC purchased a new stake in Intercontinental Exchange in the 4th quarter valued at $29,000. Rakuten Securities Inc. raised its position 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. Finally, Global Trust Asset Management LLC purchased a new stake in Intercontinental Exchange in the 1st quarter valued at $31,000. 89.30% of the stock is currently owned by institutional investors.

Intercontinental Exchange Stock Up 0.5%

Shares of NYSE ICE opened at $181.74 on Friday. Intercontinental Exchange Inc. has a 52 week low of $136.25 and a 52 week high of $182.61. The business has a 50-day simple moving average of $174.95 and a two-hundred day simple moving average of $165.62. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.62. The company has a market cap of $104.25 billion, a P/E ratio of 37.63, a P/E/G ratio of 1.96 and a beta of 1.12.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued 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 firm had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.44 billion. Intercontinental Exchange had a return on equity of 13.27% and a net margin of 22.84%. The company's revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter last year, the company posted $1.48 EPS. Research analysts anticipate that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

The company also recently announced 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 dividend on an annualized basis and a yield of 1.06%. Intercontinental Exchange's payout ratio is 39.75%.

Insider Buying and Selling

In related news, SVP Douglas Foley sold 1,600 shares of the business's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $177.48, for a total value of $283,968.00. Following the completion of the sale, the senior vice president now owns 27,313 shares in the company, valued at $4,847,511.24. The trade was a 5.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Christopher Scott Edmonds sold 552 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $174.52, for a total value of $96,335.04. Following the completion of the sale, the insider now owns 15,658 shares of the company's stock, valued at $2,732,634.16. The trade was a 3.41% decrease in their position. The disclosure for this sale can be found here. Insiders sold 227,954 shares of company stock worth $40,796,663 in the last quarter. 1.00% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Barclays increased their price target on Intercontinental Exchange from $189.00 to $198.00 and gave the company an "overweight" rating in a research report on Friday, May 2nd. Bank of America lowered their price target on Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating for the company in a research report on Wednesday, April 2nd. Morgan Stanley raised their target price on Intercontinental Exchange from $181.00 to $192.00 and gave the company an "equal weight" rating in a research report on Monday, May 5th. Finally, Keefe, Bruyette & Woods raised their target price on Intercontinental Exchange from $183.00 to $189.00 and gave the company an "outperform" rating in a research report on Friday, May 2nd. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Intercontinental Exchange currently has a consensus rating of "Moderate Buy" and an average price target of $188.46.

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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