Whitaker Myers Wealth Managers LTD. Makes New Investment in Intercontinental Exchange, Inc. (NYSE:ICE)

Whitaker Myers Wealth Managers LTD. acquired a new position in Intercontinental Exchange, Inc. (NYSE:ICEFree Report) during the 4th quarter, HoldingsChannel reports. The fund acquired 1,796 shares of the financial services provider’s stock, valued at approximately $231,000.

Several other hedge funds have also added to or reduced their stakes in the stock. Oppenheimer Asset Management Inc. increased its holdings in Intercontinental Exchange by 7.0% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 126,854 shares of the financial services provider’s stock worth $13,956,000 after acquiring an additional 8,320 shares during the period. Nordea Investment Management AB grew its stake in Intercontinental Exchange by 27.3% in the 4th quarter. Nordea Investment Management AB now owns 56,870 shares of the financial services provider’s stock worth $7,311,000 after buying an additional 12,208 shares in the last quarter. First County Bank CT boosted its stake in shares of Intercontinental Exchange by 2.7% in the 3rd quarter. First County Bank CT now owns 3,811 shares of the financial services provider’s stock valued at $419,000 after purchasing an additional 100 shares in the last quarter. CIC Wealth LLC purchased a new stake in shares of Intercontinental Exchange in the 4th quarter valued at $221,000. Finally, LPL Financial LLC boosted its stake in shares of Intercontinental Exchange by 6.2% in the 3rd quarter. LPL Financial LLC now owns 303,576 shares of the financial services provider’s stock valued at $33,399,000 after purchasing an additional 17,804 shares in the last quarter. Institutional investors own 87.91% of the company’s stock.

Intercontinental Exchange Stock Down 1.4 %

NYSE:ICE opened at $136.23 on Friday. The firm has a market cap of $78.01 billion, a P/E ratio of 32.44, a P/E/G ratio of 2.44 and a beta of 1.02. 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 $95.66 and a fifty-two week high of $140.43. The firm has a 50-day simple moving average of $133.57 and a two-hundred day simple moving average of $121.45.

Intercontinental Exchange (NYSE:ICEGet Free Report) last released its quarterly earnings data on Thursday, February 8th. The financial services provider reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.04. The business had revenue of $2.20 billion during 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%. Intercontinental Exchange’s revenue was up 24.5% compared to the same quarter last year. During the same period last year, the business earned $1.25 EPS. Analysts predict that Intercontinental Exchange, Inc. will post 5.91 earnings per share for the current fiscal year.

Intercontinental Exchange Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 15th will be paid a $0.45 dividend. The ex-dividend date of this dividend is 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 1.32%. Intercontinental Exchange’s payout ratio is currently 42.86%.

Insider Transactions at Intercontinental Exchange

In other news, General Counsel Andrew J. Surdykowski sold 2,364 shares of Intercontinental Exchange stock in a transaction that occurred on Tuesday, December 26th. The shares were sold at an average price of $126.00, for a total value of $297,864.00. Following the completion of the sale, the general counsel now directly owns 43,493 shares in the company, valued at $5,480,118. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Warren Gardiner sold 500 shares of the business’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 completion of the sale, the chief financial officer now directly owns 18,326 shares in the company, valued at $2,544,198.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Andrew J. Surdykowski sold 2,364 shares of the business’s stock in a transaction that occurred on Tuesday, December 26th. The shares were sold at an average price of $126.00, for a total transaction of $297,864.00. Following the sale, the general counsel now owns 43,493 shares of the company’s stock, valued at $5,480,118. The disclosure for this sale can be found here. Insiders sold 157,617 shares of company stock worth $20,784,288 over the last three months. 1.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on ICE shares. UBS Group upped their price objective on shares of Intercontinental Exchange from $145.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, February 12th. Rosenblatt Securities raised their price target on shares of Intercontinental Exchange from $154.00 to $164.00 and gave the stock a “buy” rating in a report on Friday, February 9th. StockNews.com raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Wednesday, February 14th. Morgan Stanley raised their price target on shares of Intercontinental Exchange from $133.00 to $139.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 13th. Finally, Citigroup raised their target price on shares of Intercontinental Exchange from $146.00 to $155.00 and gave the stock a “buy” rating in a research report on Tuesday, February 13th. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Intercontinental Exchange currently has a consensus rating of “Moderate Buy” and an average target price of $145.83.

Read Our Latest Report on Intercontinental Exchange

About Intercontinental Exchange

(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.

See Also

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

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