Wealthsource Partners LLC grew its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE – Get Rating) by 32.8% during the 3rd quarter, Holdings Channel reports. The firm owned 4,659 shares of the financial services provider’s stock after buying an additional 1,152 shares during the period. Wealthsource Partners LLC’s holdings in Intercontinental Exchange were worth $421,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Raymond James & Associates raised its position in Intercontinental Exchange by 6.5% during the third quarter. Raymond James & Associates now owns 1,781,186 shares of the financial services provider’s stock worth $160,933,000 after acquiring an additional 108,815 shares in the last quarter. Buttonwood Financial Advisors Inc. acquired a new stake in shares of Intercontinental Exchange in the third quarter valued at approximately $640,000. IFP Advisors Inc boosted its stake in shares of Intercontinental Exchange by 10.2% during the 3rd quarter. IFP Advisors Inc now owns 14,585 shares of the financial services provider’s stock worth $1,119,000 after acquiring an additional 1,353 shares during the period. American National Bank bought a new position in shares of Intercontinental Exchange during the 3rd quarter worth approximately $61,000. Finally, Brinker Capital Investments LLC increased its holdings in shares of Intercontinental Exchange by 8.9% during the 3rd quarter. Brinker Capital Investments LLC now owns 45,614 shares of the financial services provider’s stock worth $4,121,000 after acquiring an additional 3,741 shares during the last quarter. Institutional investors own 87.28% of the company’s stock.
Analysts Set New Price Targets
Several equities research analysts have issued reports on the company. Citigroup raised their price target on Intercontinental Exchange from $110.00 to $117.00 and gave the company a “neutral” rating in a report on Friday, February 3rd. Keefe, Bruyette & Woods reduced their target price on shares of Intercontinental Exchange from $125.00 to $122.00 and set a “market perform” rating for the company in a report on Wednesday, March 1st. Morgan Stanley increased their price target on shares of Intercontinental Exchange from $116.00 to $120.00 and gave the company an “equal weight” rating in a report on Wednesday, January 11th. Deutsche Bank Aktiengesellschaft reduced their price objective on Intercontinental Exchange from $134.00 to $131.00 in a report on Wednesday, January 11th. Finally, Bank of America upgraded Intercontinental Exchange from a “neutral” rating to a “buy” rating and increased their target price for the stock from $116.00 to $132.00 in a research note on Thursday, November 17th. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $129.91.
Intercontinental Exchange Stock Performance
Intercontinental Exchange (NYSE:ICE – Get Rating) last posted its quarterly earnings data on Thursday, February 2nd. The financial services provider reported $1.25 earnings per share for the quarter, missing the consensus estimate of $1.26 by ($0.01). Intercontinental Exchange had a return on equity of 13.11% and a net margin of 15.01%. The firm had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.78 billion. During the same period in the prior year, the company earned $1.34 EPS. The company’s revenue for the quarter was down 3.9% compared to the same quarter last year. As a group, equities analysts anticipate that Intercontinental Exchange, Inc. will post 5.4 EPS for the current fiscal year.
Intercontinental Exchange Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Friday, March 17th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 1.70%. This is a boost from Intercontinental Exchange’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Thursday, March 16th. Intercontinental Exchange’s dividend payout ratio (DPR) is 65.37%.
Insider Buying and Selling at Intercontinental Exchange
In other Intercontinental Exchange news, CEO Jeffrey C. Sprecher sold 81,827 shares of the firm’s stock in a transaction on Wednesday, February 22nd. The stock was sold at an average price of $104.02, for a total value of $8,511,644.54. Following the sale, the chief executive officer now owns 1,203,104 shares of the company’s stock, valued at approximately $125,146,878.08. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Jeffrey C. Sprecher sold 81,827 shares of the firm’s stock in a transaction dated Wednesday, February 22nd. The stock was sold at an average price of $104.02, for a total value of $8,511,644.54. Following the sale, the chief executive officer now directly owns 1,203,104 shares of the company’s stock, valued at $125,146,878.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Douglas Foley sold 1,600 shares of the business’s stock in a transaction dated Thursday, February 23rd. The stock was sold at an average price of $104.80, for a total value of $167,680.00. Following the transaction, the senior vice president now directly owns 21,481 shares of the company’s stock, valued at approximately $2,251,208.80. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.
Intercontinental Exchange Company Profile
Intercontinental Exchange, Inc engages in the provision of market infrastructure, data services and technology solutions. It operates through the following segments: Exchanges, Fixed Income and Data Services, and Mortgage Technology. The Exchanges segment includes trading and listing revenue from the global futures network, the New York Stock Exchange and other registered securities exchanges.
- Get a free copy of the StockNews.com research report on Intercontinental Exchange (ICE)
- Monoclonal Antibodies? Avid Bioservices surges 32% on Blowout Q3
- GitLab Crashes On Guidance; Analysts Defend
- Healthcare Stocks With at Least 30 Years of Dividend Increases
- Coinbase Pops As SVB Crumbles To Dust
- Airlines Update Guidance, Shares Head For Different Destinations
Want to see what other hedge funds are holding ICE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Intercontinental Exchange, Inc. (NYSE:ICE – Get Rating).
Receive News & Ratings for Intercontinental Exchange Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intercontinental Exchange and related companies with MarketBeat.com's FREE daily email newsletter.