MGB Wealth Management LLC Has $930,000 Position in Intercontinental Exchange, Inc. (NYSE:ICE)

MGB Wealth Management LLC increased its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 1.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 6,238 shares of the financial services provider’s stock after acquiring an additional 96 shares during the quarter. MGB Wealth Management LLC’s holdings in Intercontinental Exchange were worth $930,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in ICE. AMF Tjanstepension AB lifted its holdings in shares of Intercontinental Exchange by 14.5% during the third quarter. AMF Tjanstepension AB now owns 127,199 shares of the financial services provider’s stock worth $20,441,000 after buying an additional 16,130 shares during the last quarter. Brookstone Capital Management acquired a new position in Intercontinental Exchange during the 3rd quarter valued at $212,000. Exchange Traded Concepts LLC raised its stake in Intercontinental Exchange by 836.4% during the 3rd quarter. Exchange Traded Concepts LLC now owns 412 shares of the financial services provider’s stock valued at $66,000 after purchasing an additional 368 shares during the last quarter. ORG Partners LLC boosted its holdings in Intercontinental Exchange by 33.9% in the 3rd quarter. ORG Partners LLC now owns 798 shares of the financial services provider’s stock valued at $128,000 after purchasing an additional 202 shares during the period. Finally, Creative Planning grew its position in Intercontinental Exchange by 92.8% in the 3rd quarter. Creative Planning now owns 104,616 shares of the financial services provider’s stock worth $16,805,000 after purchasing an additional 50,354 shares during the last quarter. Institutional investors own 89.30% of the company’s stock.

Insider Buying and Selling at Intercontinental Exchange

In other news, SVP Douglas Foley sold 10,580 shares of the stock in a transaction on Friday, February 7th. The stock was sold at an average price of $166.47, for a total value of $1,761,252.60. Following the transaction, the senior vice president now owns 21,992 shares of the company’s stock, valued at $3,661,008.24. This represents a 32.48 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Lynn C. Martin sold 4,155 shares of the firm’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $165.60, for a total value of $688,068.00. Following the completion of the transaction, the insider now owns 57,376 shares in the company, valued at $9,501,465.60. This represents a 6.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,358 shares of company stock worth $5,535,650. Company insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ICE. StockNews.com raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Monday. JPMorgan Chase & Co. cut their price target on Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Keefe, Bruyette & Woods raised their price objective on Intercontinental Exchange from $178.00 to $186.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Royal Bank of Canada restated an “outperform” rating and set a $200.00 price objective on shares of Intercontinental Exchange in a research report on Tuesday, January 7th. Finally, UBS Group increased their price objective on shares of Intercontinental Exchange from $185.00 to $195.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Intercontinental Exchange has a consensus rating of “Moderate Buy” and an average target price of $178.80.

Intercontinental Exchange Price Performance

Intercontinental Exchange stock opened at $166.57 on Thursday. The business’s fifty day moving average is $153.74 and its two-hundred day moving average is $157.30. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.00 and a current ratio of 0.99. The firm has a market cap of $95.64 billion, a P/E ratio of 34.85, a P/E/G ratio of 3.21 and a beta of 1.11. Intercontinental Exchange, Inc. has a 52 week low of $124.34 and a 52 week high of $169.75.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, February 6th. The financial services provider reported $1.52 EPS for the quarter, missing the consensus estimate of $1.53 by ($0.01). Intercontinental Exchange had a net margin of 23.42% and a return on equity of 12.95%. Equities research analysts forecast that Intercontinental Exchange, Inc. will post 6.63 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th will be issued a dividend of $0.48 per share. The ex-dividend date is Tuesday, December 16th. This represents a $1.92 annualized dividend and a yield of 1.15%. Intercontinental Exchange’s dividend payout ratio is currently 37.66%.

Intercontinental Exchange Company 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.