Western Wealth Management LLC Has $991,000 Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Western Wealth Management LLC reduced its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) by 31.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,654 shares of the financial services provider's stock after selling 3,064 shares during the quarter. Western Wealth Management LLC's holdings in Intercontinental Exchange were worth $991,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of ICE. Sierra Ocean LLC acquired a new position in shares of Intercontinental Exchange during the 4th quarter worth approximately $25,000. Redwood Park Advisors LLC bought a new stake in shares of Intercontinental Exchange during the 4th quarter worth about $33,000. Lee Danner & Bass Inc. bought a new stake in shares of Intercontinental Exchange during the fourth quarter worth approximately $34,000. BankPlus Trust Department acquired a new position in shares of Intercontinental Exchange in the fourth quarter valued at approximately $40,000. Finally, Kapitalo Investimentos Ltda bought a new position in shares of Intercontinental Exchange during the fourth quarter worth approximately $44,000. Institutional investors own 89.30% of the company's stock.

Intercontinental Exchange Price Performance

Intercontinental Exchange stock traded down $0.26 during mid-day trading on Wednesday, reaching $178.28. The company had a trading volume of 649,543 shares, compared to its average volume of 2,996,751. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.63. Intercontinental Exchange, Inc. has a fifty-two week low of $131.79 and a fifty-two week high of $180.07. The company has a market cap of $102.27 billion, a P/E ratio of 37.30, a P/E/G ratio of 2.10 and a beta of 1.12. The business has a fifty day simple moving average of $167.87 and a 200 day simple moving average of $162.21.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued 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 23.42% and a return on equity of 12.95%. The business had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.44 billion. During the same quarter last year, the business earned $1.48 EPS. The firm's quarterly revenue was up 8.0% on a year-over-year basis. On average, equities research analysts predict that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Dividend Announcement

The business 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 dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 1.08%. Intercontinental Exchange's dividend payout ratio is currently 39.75%.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Keefe, Bruyette & Woods boosted their price target on Intercontinental Exchange from $183.00 to $189.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. Bank of America cut their price target on Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. Morgan Stanley increased their target price on Intercontinental Exchange from $181.00 to $192.00 and gave the stock an "equal weight" rating in a report on Monday, May 5th. Wall Street Zen upgraded Intercontinental Exchange from a "sell" rating to a "hold" rating in a research report on Monday, February 10th. Finally, Barclays upped their price objective on shares of Intercontinental Exchange from $189.00 to $198.00 and gave the stock an "overweight" 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's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $188.46.

Insiders Place Their Bets

In other news, Director Judith A. Sprieser sold 2,630 shares of the stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $159.00, for a total transaction of $418,170.00. Following the completion of the sale, the director now directly owns 21,364 shares in the company, valued at $3,396,876. This represents a 10.96% decrease in their ownership of the stock. 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 stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $174.52, for a total value of $96,335.04. Following the sale, the insider now owns 15,658 shares of the company's stock, valued at approximately $2,732,634.16. The trade was a 3.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.00% of the company's stock.

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.