Intercontinental Exchange Inc. (NYSE:ICE) Holdings Increased by 44 Wealth Management LLC

44 Wealth Management LLC increased its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 49.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,606 shares of the financial services provider’s stock after acquiring an additional 4,174 shares during the period. 44 Wealth Management LLC’s holdings in Intercontinental Exchange were worth $2,175,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Governors Lane LP boosted its stake in Intercontinental Exchange by 88.0% during the 4th quarter. Governors Lane LP now owns 127,100 shares of the financial services provider’s stock valued at $18,939,000 after purchasing an additional 59,500 shares in the last quarter. Tema Etfs LLC acquired a new stake in shares of Intercontinental Exchange in the fourth quarter valued at $1,107,000. Ilmarinen Mutual Pension Insurance Co lifted its holdings in shares of Intercontinental Exchange by 61.0% in the fourth quarter. Ilmarinen Mutual Pension Insurance Co now owns 157,800 shares of the financial services provider’s stock valued at $23,514,000 after buying an additional 59,800 shares during the period. SouthState Corp boosted its stake in Intercontinental Exchange by 4.5% during the fourth quarter. SouthState Corp now owns 66,417 shares of the financial services provider’s stock valued at $9,897,000 after buying an additional 2,851 shares in the last quarter. Finally, Lansforsakringar Fondforvaltning AB publ acquired a new position in Intercontinental Exchange during the fourth quarter worth about $28,949,000. 89.30% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Keefe, Bruyette & Woods raised their price objective on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the company an “outperform” rating in a research report on Friday, May 2nd. Morgan Stanley raised their target price on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the stock an “equal weight” rating in a report on Monday, May 5th. Barclays upped their price target on Intercontinental Exchange from $189.00 to $198.00 and gave the company an “overweight” rating in a report on Friday, May 2nd. Finally, Bank of America reduced their price objective on Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating for the company in a research note on Wednesday, April 2nd. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $188.46.

Insider Activity

In other news, Director Sharon Bowen sold 795 shares of the firm’s stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $183.30, for a total transaction of $145,723.50. Following the completion of the sale, the director directly owned 15,000 shares of the company’s stock, valued at $2,749,500. This trade represents a 5.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Douglas Foley sold 1,600 shares of the business’s stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $177.48, for a total transaction of $283,968.00. Following the completion of the sale, the senior vice president directly owned 27,313 shares of the company’s stock, valued at $4,847,511.24. This represents a 5.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 228,749 shares of company stock valued at $40,942,387. 1.00% of the stock is currently owned by company insiders.

Intercontinental Exchange Trading Up 0.8%

Shares of NYSE ICE opened at $183.11 on Friday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.62. Intercontinental Exchange Inc. has a one year low of $139.61 and a one year high of $183.76. The business has a 50-day moving average price of $176.76 and a two-hundred day moving average price of $166.29. The firm has a market capitalization of $105.04 billion, a PE ratio of 37.91, a PEG ratio of 1.96 and a beta of 1.11.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, May 1st. The financial services provider reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.02. The firm had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.44 billion. Intercontinental Exchange had a net margin of 22.84% and a return on equity of 13.27%. The company’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.48 EPS. As a group, analysts predict that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 1.05%. Intercontinental Exchange’s dividend payout ratio is 39.75%.

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.