SVB Wealth LLC Sells 38,658 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

SVB Wealth LLC decreased its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) by 22.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 135,492 shares of the financial services provider's stock after selling 38,658 shares during the period. SVB Wealth LLC's holdings in Intercontinental Exchange were worth $17,401,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Crescent Grove Advisors LLC bought a new position in shares of Intercontinental Exchange during the 4th quarter valued at about $19,586,000. Capital Analysts LLC boosted its holdings in shares of Intercontinental Exchange by 3.1% in the fourth quarter. Capital Analysts LLC now owns 53,399 shares of the financial services provider's stock worth $6,858,000 after buying an additional 1,623 shares during the period. Mackenzie Financial Corp boosted its holdings in shares of Intercontinental Exchange by 0.7% in the fourth quarter. Mackenzie Financial Corp now owns 447,596 shares of the financial services provider's stock worth $57,485,000 after buying an additional 2,982 shares during the period. Bison Wealth LLC boosted its holdings in shares of Intercontinental Exchange by 4.4% in the fourth quarter. Bison Wealth LLC now owns 6,760 shares of the financial services provider's stock worth $868,000 after buying an additional 284 shares during the period. Finally, Cullen Investment Group LTD. acquired a new position in shares of Intercontinental Exchange in the fourth quarter worth about $1,607,000. Institutional investors and hedge funds own 89.30% of the company's stock.

Insiders Place Their Bets

In other Intercontinental Exchange news, CFO Warren Gardiner sold 2,176 shares of the firm's stock in a transaction on Monday, February 12th. The shares were sold at an average price of $136.00, for a total value of $295,936.00. Following the sale, the chief financial officer now directly owns 12,061 shares in the company, valued at approximately $1,640,296. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CAO James W. Namkung sold 1,182 shares of Intercontinental Exchange stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $132.03, for a total transaction of $156,059.46. Following the completion of the transaction, the chief accounting officer now directly owns 16,396 shares of the company's stock, valued at approximately $2,164,763.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Warren Gardiner sold 2,176 shares of Intercontinental Exchange stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $136.00, for a total transaction of $295,936.00. Following the transaction, the chief financial officer now directly owns 12,061 shares of the company's stock, valued at $1,640,296. The disclosure for this sale can be found here. Insiders have sold 157,491 shares of company stock worth $21,454,204 in the last ninety days. Insiders own 1.10% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Morgan Stanley raised their target price on shares of Intercontinental Exchange from $139.00 to $142.00 and gave the stock an "equal weight" rating in a report on Tuesday, April 9th. Citigroup raised their price target on shares of Intercontinental Exchange from $155.00 to $160.00 and gave the stock a "buy" rating in a report on Thursday, April 4th. Raymond James raised their price target on shares of Intercontinental Exchange from $135.00 to $145.00 and gave the stock a "strong-buy" rating in a report on Friday, January 5th. Piper Sandler raised their price target on shares of Intercontinental Exchange from $135.00 to $149.00 and gave the stock an "overweight" rating in a report on Monday, February 12th. Finally, JPMorgan Chase & Co. raised their price target on shares of Intercontinental Exchange from $142.00 to $151.00 and gave the stock an "overweight" rating in a report on Friday, February 9th. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $147.08.

Intercontinental Exchange Stock Performance

NYSE:ICE traded down $0.66 during midday trading on Tuesday, reaching $129.89. The stock had a trading volume of 2,637,591 shares, compared to its average volume of 2,405,310. Intercontinental Exchange, Inc. has a 1-year low of $103.81 and a 1-year high of $140.43. The firm's fifty day simple moving average is $136.37 and its 200-day simple moving average is $124.17. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.00 and a quick ratio of 1.00. The stock has a market capitalization of $74.37 billion, a P/E ratio of 30.93, a PEG ratio of 2.11 and a beta of 1.02.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last posted its earnings results on Thursday, February 8th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.29 by $0.04. Intercontinental Exchange had a net margin of 23.91% and a return on equity of 12.91%. The business had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.20 billion. During the same period last year, the business posted $1.25 EPS. Intercontinental Exchange's revenue was up 24.5% compared to the same quarter last year. On average, equities research analysts forecast that Intercontinental Exchange, Inc. will post 5.98 EPS for the current fiscal year.

Intercontinental Exchange Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.39%. This is a positive change from Intercontinental Exchange's previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Thursday, March 14th. Intercontinental Exchange's dividend payout ratio (DPR) is currently 42.86%.

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.