NewEdge Wealth LLC Boosts Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

NewEdge Wealth LLC lifted its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 14.3% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,343 shares of the financial services provider’s stock after acquiring an additional 294 shares during the period. NewEdge Wealth LLC’s holdings in Intercontinental Exchange were worth $301,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of ICE. RB Capital Management LLC grew its position in Intercontinental Exchange by 3.2% during the 1st quarter. RB Capital Management LLC now owns 4,044 shares of the financial services provider’s stock worth $534,000 after purchasing an additional 126 shares during the last quarter. United Bank grew its position in Intercontinental Exchange by 2.7% during the 1st quarter. United Bank now owns 15,988 shares of the financial services provider’s stock worth $2,112,000 after purchasing an additional 422 shares during the last quarter. U.S. Capital Wealth Advisors LLC grew its position in Intercontinental Exchange by 13.5% during 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 purchasing 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 position in Intercontinental Exchange during the 1st quarter worth $1,679,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Intercontinental Exchange

In related news, SVP Douglas Foley sold 7,070 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $136.09, for a total transaction of $962,156.30. Following the sale, the senior vice president now directly owns 18,383 shares in the company, valued at approximately $2,501,742.47. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Intercontinental Exchange news, CEO Jeffrey C. Sprecher sold 58,388 shares of Intercontinental Exchange stock in a transaction that occurred on 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 in the company, valued at approximately $161,893,392.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Douglas Foley sold 7,070 shares of Intercontinental Exchange stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $136.09, for a total value of $962,156.30. Following the completion of the transaction, the senior vice president now 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 $21,454,204 in the last three months. 1.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Citigroup raised their price objective on shares of Intercontinental Exchange from $155.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, April 4th. UBS Group lifted their target price on shares of Intercontinental Exchange from $145.00 to $160.00 and gave the company a “buy” rating in a report on Monday, February 12th. StockNews.com raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Wednesday, February 14th. Morgan Stanley lifted their target price on shares of Intercontinental Exchange from $139.00 to $142.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. Finally, Barclays lifted their target price on shares of Intercontinental Exchange from $153.00 to $155.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Intercontinental Exchange presently has an average rating of “Moderate Buy” and an average price target of $147.08.

Intercontinental Exchange Stock Up 0.6 %

ICE opened at $130.74 on Thursday. 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 firm has a market cap of $74.86 billion, a P/E ratio of 31.13, a PEG ratio of 2.07 and a beta of 1.02. Intercontinental Exchange, Inc. has a 52 week low of $103.81 and a 52 week high of $140.43. The business’s fifty day simple moving average is $136.42 and its 200 day simple moving average is $124.22.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, February 8th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%. The firm’s quarterly revenue was up 24.5% on a year-over-year basis. During the same period last year, the company earned $1.25 EPS. As a group, equities research analysts anticipate that Intercontinental Exchange, Inc. will post 5.98 EPS for the current fiscal year.

Intercontinental Exchange Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.38%. This is an increase 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 42.86%.

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.