Waldron Private Wealth LLC Sells 176 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Waldron Private Wealth LLC reduced its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 9.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,760 shares of the financial services provider’s stock after selling 176 shares during the period. Waldron Private Wealth LLC’s holdings in Intercontinental Exchange were worth $226,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in ICE. Nordea Investment Management AB boosted its position in shares of Intercontinental Exchange by 27.3% during the 4th quarter. Nordea Investment Management AB now owns 56,870 shares of the financial services provider’s stock worth $7,311,000 after acquiring an additional 12,208 shares in the last quarter. Oppenheimer Asset Management Inc. increased its stake in shares of Intercontinental Exchange by 7.0% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 126,854 shares of the financial services provider’s stock valued at $13,956,000 after purchasing an additional 8,320 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position 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 buying an additional 105,042 shares during the last quarter. First County Bank CT lifted its holdings in shares of Intercontinental Exchange by 2.7% in the third quarter. First County Bank CT now owns 3,811 shares of the financial services provider’s stock worth $419,000 after acquiring an additional 100 shares during the last quarter. Finally, CIC Wealth LLC acquired a new stake in shares of Intercontinental Exchange in the 4th quarter valued at approximately $221,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Intercontinental Exchange Stock Down 0.5 %

Intercontinental Exchange stock opened at $129.89 on Wednesday. The firm has a market capitalization of $74.37 billion, a price-to-earnings ratio of 30.93, a price-to-earnings-growth ratio of 2.07 and a beta of 1.02. The firm’s fifty day moving average price is $136.37 and its two-hundred day moving average price is $124.17. Intercontinental Exchange, Inc. has a 1-year low of $103.81 and a 1-year high of $140.43. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.80.

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

Intercontinental Exchange Increases Dividend

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

Insider Buying and Selling

In other news, President Benjamin Jackson sold 27,970 shares of Intercontinental Exchange stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $134.74, for a total transaction of $3,768,677.80. Following the sale, the president now directly owns 138,487 shares in the company, valued at approximately $18,659,738.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, President Benjamin Jackson sold 27,970 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $134.74, for a total transaction of $3,768,677.80. Following 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Warren Gardiner sold 500 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $138.83, for a total transaction of $69,415.00. Following the sale, the chief financial officer now owns 18,326 shares in the company, valued at $2,544,198.58. The disclosure for this sale can be found here. Over the last three months, insiders have sold 157,491 shares of company stock worth $21,454,204. 1.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

ICE has been the subject of several research analyst reports. Raymond James upped 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. Rosenblatt Securities increased their target price on Intercontinental Exchange from $154.00 to $164.00 and gave the company a “buy” rating in a research report on Friday, February 9th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $152.00 price objective on shares of Intercontinental Exchange in a research note on Thursday, April 4th. JPMorgan Chase & Co. lifted their target price on shares of Intercontinental Exchange from $142.00 to $151.00 and gave the stock an “overweight” rating in a research report on Friday, February 9th. Finally, Morgan Stanley raised their price target on shares of Intercontinental Exchange from $139.00 to $142.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. Three analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Intercontinental Exchange presently has a consensus rating of “Moderate Buy” and an average target price of $147.08.

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.