Turtle Creek Wealth Advisors LLC Invests $45,000 in Intercontinental Exchange, Inc. (NYSE:ICE)

Turtle Creek Wealth Advisors LLC purchased a new position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 348 shares of the financial services provider’s stock, valued at approximately $45,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in ICE. Allspring Global Investments Holdings LLC lifted its stake in shares of Intercontinental Exchange by 9.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,235,985 shares of the financial services provider’s stock worth $158,738,000 after purchasing an additional 105,042 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Intercontinental Exchange during the 4th quarter worth $6,334,000. Busey Bank purchased a new stake in shares of Intercontinental Exchange during the 4th quarter worth $303,000. Valley National Advisers Inc. lifted its stake in shares of Intercontinental Exchange by 27.7% during the 4th quarter. Valley National Advisers Inc. now owns 466 shares of the financial services provider’s stock worth $59,000 after purchasing an additional 101 shares during the last quarter. Finally, Equitable Trust Co. lifted its stake in shares of Intercontinental Exchange by 10.9% during the 4th quarter. Equitable Trust Co. now owns 32,788 shares of the financial services provider’s stock worth $4,211,000 after purchasing an additional 3,215 shares during the last quarter. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Trading Up 0.4 %

Shares of NYSE:ICE opened at $133.48 on Friday. Intercontinental Exchange, Inc. has a 52-week low of $103.81 and a 52-week high of $140.43. The stock has a market cap of $76.43 billion, a price-to-earnings ratio of 31.78, a PEG ratio of 2.11 and a beta of 1.02. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.80. The business has a 50-day moving average price of $136.13 and a 200-day moving average price of $123.50.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, February 8th. The financial services provider reported $1.33 EPS for the quarter, topping the consensus estimate of $1.29 by $0.04. The firm had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.20 billion. Intercontinental Exchange had a return on equity of 12.91% and a net margin of 23.91%. Intercontinental Exchange’s revenue for the quarter was up 24.5% compared to the same quarter last year. During the same period last year, the company earned $1.25 earnings per share. Equities analysts predict that Intercontinental Exchange, Inc. will post 5.96 EPS for the current year.

Intercontinental Exchange Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.35%. This is a positive change from Intercontinental Exchange’s previous quarterly dividend of $0.42. The ex-dividend date was Thursday, March 14th. Intercontinental Exchange’s dividend payout ratio (DPR) is 42.86%.

Insider Buying and Selling

In related news, CEO Jeffrey C. Sprecher sold 58,388 shares of the firm’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $137.21, for a total transaction of $8,011,417.48. Following the sale, the chief executive officer now directly owns 1,179,895 shares of the company’s stock, valued at $161,893,392.95. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Intercontinental Exchange news, major shareholder Intercontinental Exchange, Inc acquired 2,762,009 shares of the company’s stock in a transaction on Monday, March 4th. The shares were bought at an average cost of $0.87 per share, with a total value of $2,402,947.83. Following the completion of the acquisition, the insider now owns 7,476,345 shares in the company, valued at $6,504,420.15. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jeffrey C. Sprecher sold 58,388 shares of the firm’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $137.21, for a total value of $8,011,417.48. Following the completion of the sale, the chief executive officer now directly owns 1,179,895 shares in the company, valued at $161,893,392.95. The disclosure for this sale can be found here. Insiders have sold a total of 157,491 shares of company stock valued at $21,454,204 over the last ninety days. Company insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. UBS Group increased their price target on Intercontinental Exchange from $145.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, February 12th. JPMorgan Chase & Co. increased their price target on Intercontinental Exchange from $142.00 to $151.00 and gave the company an “overweight” rating in a research note on Friday, February 9th. Raymond James increased their price target on Intercontinental Exchange from $135.00 to $145.00 and gave the company a “strong-buy” rating in a research note on Friday, January 5th. Rosenblatt Securities increased their price target on Intercontinental Exchange from $154.00 to $164.00 and gave the company a “buy” rating in a research note on Friday, February 9th. Finally, Piper Sandler increased their price target on Intercontinental Exchange from $135.00 to $149.00 and gave the company an “overweight” rating in a research note on Monday, February 12th. Three research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $147.08.

About Intercontinental Exchange

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.