Western Wealth Management LLC lessened its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) by 31.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 6,654 shares of the financial services provider's stock after selling 3,064 shares during the period. Western Wealth Management LLC's holdings in Intercontinental Exchange were worth $991,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vise Technologies Inc. grew its holdings in shares of Intercontinental Exchange by 71.8% in the fourth quarter. Vise Technologies Inc. now owns 7,389 shares of the financial services provider's stock worth $1,101,000 after purchasing an additional 3,087 shares during the last quarter. City National Bank of Florida MSD purchased a new stake in shares of Intercontinental Exchange in the 4th quarter worth approximately $207,000. Inspire Trust Co. N.A. boosted its stake in shares of Intercontinental Exchange by 25.0% during the fourth quarter. Inspire Trust Co. N.A. now owns 15,000 shares of the financial services provider's stock valued at $2,235,000 after purchasing an additional 3,000 shares in the last quarter. Mosaic Family Wealth Partners LLC raised its stake in Intercontinental Exchange by 10.8% in the fourth quarter. Mosaic Family Wealth Partners LLC now owns 1,379 shares of the financial services provider's stock worth $206,000 after buying an additional 134 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in Intercontinental Exchange by 14.9% during the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 109,939 shares of the financial services provider's stock valued at $16,382,000 after acquiring an additional 14,236 shares in the last quarter. Hedge funds and other institutional investors own 89.30% of the company's stock.
Intercontinental Exchange Stock Performance
Intercontinental Exchange stock traded up $2.40 during midday trading on Tuesday, hitting $178.52. 2,831,511 shares of the company were exchanged, compared to its average volume of 3,005,912. The firm has a market capitalization of $102.40 billion, a PE ratio of 37.35, a price-to-earnings-growth ratio of 2.10 and a beta of 1.12. Intercontinental Exchange, Inc. has a fifty-two week low of $131.79 and a fifty-two week high of $179.44. The business has a fifty day simple moving average of $167.81 and a two-hundred day simple moving average of $162.09. 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 (NYSE:ICE - Get Free Report) last posted its earnings results on Thursday, May 1st. The financial services provider reported $1.72 EPS for the quarter, topping the consensus estimate of $1.70 by $0.02. The firm had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.44 billion. Intercontinental Exchange had a return on equity of 12.95% and a net margin of 23.42%. Intercontinental Exchange's revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period last year, the company earned $1.48 earnings per share. On average, sell-side analysts forecast that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current year.
Intercontinental Exchange Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders 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 dividend yield of 1.08%. Intercontinental Exchange's dividend payout ratio (DPR) is presently 39.75%.
Wall Street Analysts Forecast Growth
Several brokerages have issued reports on ICE. Barclays increased their target price on Intercontinental Exchange from $189.00 to $198.00 and gave the company an "overweight" rating in a research report on Friday, May 2nd. Wall Street Zen upgraded Intercontinental Exchange from a "sell" rating to a "hold" rating in a research note on Monday, February 10th. UBS Group raised their target price on Intercontinental Exchange from $185.00 to $195.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. Bank of America reduced their target price 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. Finally, Morgan Stanley raised their target price on Intercontinental Exchange from $181.00 to $192.00 and gave the stock an "equal weight" rating in a research note on Monday, May 5th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $188.46.
Read Our Latest Research Report on Intercontinental Exchange
Insider Activity
In other news, President Benjamin Jackson sold 7,900 shares of the business's stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $171.43, for a total value of $1,354,297.00. Following the completion of the sale, the president now directly owns 147,274 shares in the company, valued at $25,247,181.82. The trade was a 5.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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. This trade represents a 3.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,082 shares of company stock worth $1,868,802 over the last three months. 1.00% of the stock is currently owned by corporate insiders.
Intercontinental Exchange Profile
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Free Report)
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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