SVB Wealth LLC Sells 6,890 Shares of Intercontinental Exchange Inc. $ICE

SVB Wealth LLC decreased its position in Intercontinental Exchange Inc. (NYSE:ICE) by 14.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,113 shares of the financial services provider’s stock after selling 6,890 shares during the period. SVB Wealth LLC’s holdings in Intercontinental Exchange were worth $6,758,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Princeton Global Asset Management LLC purchased a new stake in shares of Intercontinental Exchange during the second quarter valued at $28,000. Westside Investment Management Inc. bought a new stake in shares of Intercontinental Exchange in the second quarter worth $29,000. Private Wealth Management Group LLC increased its position in shares of Intercontinental Exchange by 59.5% during the 3rd quarter. Private Wealth Management Group LLC now owns 177 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 66 shares during the last quarter. Knuff & Co LLC increased its holdings in Intercontinental Exchange by 73.3% during the second quarter. Knuff & Co LLC now owns 175 shares of the financial services provider’s stock valued at $32,000 after buying an additional 74 shares during the last quarter. Finally, Gables Capital Management Inc. grew its position in shares of Intercontinental Exchange by 100.0% during the 2nd quarter. Gables Capital Management Inc. now owns 250 shares of the financial services provider’s stock valued at $46,000 after acquiring an additional 125 shares during the period. Institutional investors own 89.30% of the company’s stock.

Insiders Place Their Bets

In related news, Director Judith A. Sprieser sold 4,722 shares of the stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $169.19, for a total value of $798,915.18. Following the sale, the director directly owned 9,747 shares of the company’s stock, valued at $1,649,094.93. This represents a 32.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Warren Gardiner sold 1,572 shares of the firm’s stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $153.65, for a total transaction of $241,537.80. Following the completion of the sale, the chief financial officer directly owned 20,534 shares of the company’s stock, valued at approximately $3,155,049.10. The trade was a 7.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 168,709 shares of company stock valued at $25,955,387. 1.00% of the stock is currently owned by company insiders.

Intercontinental Exchange Trading Up 0.3%

Shares of NYSE ICE opened at $169.47 on Tuesday. Intercontinental Exchange Inc. has a 1-year low of $143.17 and a 1-year high of $189.35. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.02 and a quick ratio of 1.02. The business’s 50 day moving average is $165.44 and its two-hundred day moving average is $166.21. The stock has a market capitalization of $96.24 billion, a P/E ratio of 29.37, a PEG ratio of 2.04 and a beta of 1.02.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, February 5th. The financial services provider reported $1.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.67 by $0.04. The business had revenue of $3.14 billion during the quarter, compared to analyst estimates of $2.51 billion. Intercontinental Exchange had a return on equity of 13.99% and a net margin of 26.23%.The company’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period last year, the company earned $1.52 EPS. As a group, research analysts expect that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Wednesday, December 16th will be given a dividend of $0.52 per share. The ex-dividend date is Wednesday, December 16th. This represents a $2.08 dividend on an annualized basis and a yield of 1.2%. Intercontinental Exchange’s payout ratio is 33.28%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ICE. UBS Group reiterated a “buy” rating and set a $200.00 price objective on shares of Intercontinental Exchange in a research note on Monday. TD Cowen reaffirmed a “buy” rating on shares of Intercontinental Exchange in a research note on Friday. Barclays set a $193.00 target price on Intercontinental Exchange and gave the stock an “overweight” rating in a report on Friday. Royal Bank Of Canada reissued an “outperform” rating and set a $180.00 price target on shares of Intercontinental Exchange in a research note on Tuesday, January 6th. Finally, JPMorgan Chase & Co. reduced their price objective on Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating on the stock in a research note on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $195.10.

Intercontinental Exchange Profile

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.