Wealth Enhancement Advisory Services LLC Sells 3,376 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Wealth Enhancement Advisory Services LLC lessened its stake in Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) by 9.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,409 shares of the financial services provider's stock after selling 3,376 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Intercontinental Exchange were worth $4,680,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Sierra Ocean LLC bought a new position in Intercontinental Exchange in the 4th quarter worth approximately $25,000. REAP Financial Group LLC raised its position in shares of Intercontinental Exchange by 116.7% during the fourth quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider's stock worth $25,000 after acquiring an additional 91 shares during the last quarter. Menard Financial Group LLC acquired a new position in shares of Intercontinental Exchange during the fourth quarter valued at $29,000. Redwood Park Advisors LLC bought a new position in Intercontinental Exchange in the fourth quarter valued at about $33,000. Finally, Lee Danner & Bass Inc. acquired a new stake in Intercontinental Exchange in the fourth quarter worth about $34,000. 89.30% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ICE. Morgan Stanley upped 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 price target 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. Bank of America reduced 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. Wall Street Zen upgraded shares of Intercontinental Exchange from a "sell" rating to a "hold" rating in a research report on Monday, February 10th. Finally, Keefe, Bruyette & Woods raised their price target on Intercontinental Exchange from $183.00 to $189.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $188.46.

Intercontinental Exchange Stock Down 0.0%

Intercontinental Exchange stock traded down $0.05 during midday trading on Wednesday, reaching $179.29. The stock had a trading volume of 1,869,923 shares, compared to its average volume of 3,011,863. The stock has a market capitalization of $102.85 billion, a P/E ratio of 37.51, a price-to-earnings-growth ratio of 2.10 and a beta of 1.12. The firm's fifty day simple moving average is $168.24 and its 200-day simple moving average is $163.00. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.99 and a current ratio of 0.99. Intercontinental Exchange, Inc. has a 1-year low of $132.91 and a 1-year high of $180.89.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last released its earnings results on Thursday, May 1st. The financial services provider reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.02. Intercontinental Exchange had a net margin of 23.42% and a return on equity of 12.95%. The business had revenue of $2.47 billion during the quarter, compared to analysts' expectations of $2.44 billion. During the same period last year, the business earned $1.48 earnings per share. The firm's revenue was up 8.0% on a year-over-year basis. As a group, analysts expect that Intercontinental Exchange, Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Dividend Announcement

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

Insider Activity

In other news, Director Martha A. Tirinnanzi sold 397 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $177.11, for a total transaction of $70,312.67. Following the transaction, the director now owns 4,526 shares in the company, valued at approximately $801,599.86. This trade represents a 8.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Judith A. Sprieser sold 2,630 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $159.00, for a total value of $418,170.00. Following the sale, the director now directly owns 21,364 shares of the company's stock, valued at approximately $3,396,876. The trade was a 10.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,191 shares of company stock valued at $694,978. 1.00% of the stock is owned by company insiders.

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.