Drive Wealth Management LLC Takes Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Drive Wealth Management LLC purchased a new stake in Intercontinental Exchange, Inc. (NYSE:ICEFree Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 1,578 shares of the financial services provider’s stock, valued at approximately $203,000.

Other large investors have also modified their holdings of the company. RB Capital Management LLC grew its position in shares of Intercontinental Exchange by 3.2% in the 1st quarter. RB Capital Management LLC now owns 4,044 shares of the financial services provider’s stock worth $534,000 after buying an additional 126 shares during the last quarter. United Bank grew its position in shares of Intercontinental Exchange by 2.7% in the 1st quarter. United Bank now owns 15,988 shares of the financial services provider’s stock worth $2,112,000 after buying an additional 422 shares during the last quarter. U.S. Capital Wealth Advisors LLC grew its position in shares of Intercontinental Exchange by 13.5% in the 1st quarter. U.S. Capital Wealth Advisors LLC now owns 1,855 shares of the financial services provider’s stock worth $245,000 after buying an additional 220 shares during the last quarter. Sei Investments Co. grew its position in Intercontinental Exchange by 31.5% during the 1st quarter. Sei Investments Co. now owns 204,883 shares of the financial services provider’s stock worth $27,077,000 after purchasing an additional 49,081 shares during the last quarter. Finally, Prudential PLC purchased a new stake in Intercontinental Exchange during the 1st quarter worth approximately $1,679,000. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Trading Up 0.3 %

Shares of ICE stock opened at $137.50 on Wednesday. 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 firm has a market cap of $78.74 billion, a PE ratio of 32.74, a price-to-earnings-growth ratio of 2.44 and a beta of 1.02. The company has a 50-day moving average of $134.83 and a two-hundred day moving average of $122.40. Intercontinental Exchange, Inc. has a 1-year low of $103.81 and a 1-year high of $140.43.

Intercontinental Exchange (NYSE:ICEGet Free Report) last issued its earnings results on Thursday, February 8th. The financial services provider reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.04. Intercontinental Exchange had a net margin of 23.91% and a return on equity of 12.91%. The firm had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.20 billion. During the same quarter last year, the company earned $1.25 earnings per share. The firm’s revenue was up 24.5% compared to the same quarter last year. On average, analysts predict that Intercontinental Exchange, Inc. will post 5.93 EPS for the current year.

Intercontinental Exchange Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a dividend of $0.45 per share. The ex-dividend date was Thursday, March 14th. This is a positive change from Intercontinental Exchange’s previous quarterly dividend of $0.42. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.31%. Intercontinental Exchange’s dividend payout ratio (DPR) is 42.86%.

Insider Activity at Intercontinental Exchange

In related news, SVP Douglas Foley sold 7,070 shares of Intercontinental Exchange stock in a transaction on Monday, February 12th. The shares were sold at an average price of $136.09, for a total value of $962,156.30. Following the transaction, the senior vice president now directly owns 18,383 shares in the company, valued at approximately $2,501,742.47. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, President Benjamin Jackson sold 27,970 shares of the business’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $134.74, for a total value of $3,768,677.80. Following the completion of the transaction, the president now owns 138,487 shares of the company’s stock, valued at approximately $18,659,738.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Douglas Foley sold 7,070 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $136.09, for a total transaction of $962,156.30. Following the completion of the transaction, the senior vice president now directly owns 18,383 shares of the company’s stock, valued at approximately $2,501,742.47. The disclosure for this sale can be found here. Insiders have sold a total of 157,491 shares of company stock worth $20,793,835 in the last three months. Insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on ICE shares. StockNews.com raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Wednesday, February 14th. Rosenblatt Securities upped their price objective on shares of Intercontinental Exchange from $154.00 to $164.00 and gave the company a “buy” rating in a report on Friday, February 9th. Morgan Stanley upped their price objective on shares of Intercontinental Exchange from $133.00 to $139.00 and gave the company an “equal weight” rating in a report on Tuesday, February 13th. Piper Sandler upped their price objective on shares of Intercontinental Exchange from $135.00 to $149.00 and gave the company an “overweight” rating in a report on Monday, February 12th. Finally, Barclays upped their price objective on shares of Intercontinental Exchange from $148.00 to $153.00 and gave the company an “overweight” rating in a report on Monday, February 12th. Three research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $145.83.

Get Our Latest Stock Analysis on Intercontinental Exchange

Intercontinental Exchange Profile

(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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Institutional Ownership by Quarter for Intercontinental Exchange (NYSE:ICE)

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