NewEdge Wealth LLC Purchases 294 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

NewEdge Wealth LLC increased its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 14.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,343 shares of the financial services provider’s stock after purchasing an additional 294 shares during the quarter. NewEdge Wealth LLC’s holdings in Intercontinental Exchange were worth $301,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of ICE. Vanguard Group Inc. increased its stake in Intercontinental Exchange by 2.2% in the 3rd quarter. Vanguard Group Inc. now owns 46,919,116 shares of the financial services provider’s stock worth $5,162,041,000 after buying an additional 1,012,034 shares in the last quarter. Morgan Stanley increased its stake in Intercontinental Exchange by 18.9% in the 4th quarter. Morgan Stanley now owns 25,406,629 shares of the financial services provider’s stock worth $2,606,466,000 after buying an additional 4,044,744 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its stake in Intercontinental Exchange by 45.5% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 17,114,267 shares of the financial services provider’s stock worth $1,755,753,000 after buying an additional 5,354,161 shares in the last quarter. Wellington Management Group LLP increased its stake in Intercontinental Exchange by 219.8% in the 3rd quarter. Wellington Management Group LLP now owns 12,146,620 shares of the financial services provider’s stock worth $1,336,371,000 after buying an additional 8,348,126 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Intercontinental Exchange by 1.2% in the 1st quarter. Geode Capital Management LLC now owns 10,503,361 shares of the financial services provider’s stock worth $1,092,660,000 after buying an additional 127,481 shares in the last quarter. 89.30% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ICE. Morgan Stanley raised their price objective on Intercontinental Exchange from $139.00 to $142.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. Rosenblatt Securities raised their price objective 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 restated an “outperform” rating and set a $152.00 price objective on shares of Intercontinental Exchange in a research report on Thursday, April 4th. Citigroup raised their price objective on Intercontinental Exchange from $155.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, April 4th. Finally, Barclays lifted their price target on Intercontinental Exchange from $153.00 to $155.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $147.08.

Insider Activity at Intercontinental Exchange

In related news, CAO James W. Namkung sold 1,182 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $132.03, for a total transaction of $156,059.46. Following the transaction, the chief accounting officer now directly owns 16,396 shares of the company’s stock, valued at $2,164,763.88. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Intercontinental Exchange news, insider Elizabeth Kathryn King sold 3,783 shares of Intercontinental Exchange stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $132.03, for a total value of $499,469.49. Following the transaction, the insider now directly owns 17,242 shares of the company’s stock, valued at $2,276,461.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO James W. Namkung sold 1,182 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $132.03, for a total transaction of $156,059.46. Following the sale, the chief accounting officer now directly owns 16,396 shares in the company, valued at $2,164,763.88. 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. 1.10% of the stock is owned by company insiders.

Intercontinental Exchange Stock Performance

Intercontinental Exchange stock opened at $130.74 on Thursday. The company has a 50 day moving average price of $136.42 and a 200-day moving average price of $124.22. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.00 and a current ratio of 1.00. Intercontinental Exchange, Inc. has a fifty-two week low of $103.81 and a fifty-two week high of $140.43. The company has a market capitalization of $74.86 billion, a PE ratio of 31.13, a P/E/G ratio of 2.07 and a beta of 1.02.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly 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. The firm had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.20 billion. Intercontinental Exchange had a net margin of 23.91% and a return on equity of 12.91%. The company’s revenue was up 24.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.25 earnings per share. As a group, equities analysts forecast that Intercontinental Exchange, Inc. will post 5.98 earnings per share for the current year.

Intercontinental Exchange Increases Dividend

The firm also recently disclosed 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 1.38%. 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 presently 42.86%.

Intercontinental Exchange 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.