Tandem Wealth Advisors LLC Buys 603 Shares of Intercontinental Exchange Inc. $ICE

Tandem Wealth Advisors LLC grew its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 18.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,920 shares of the financial services provider’s stock after purchasing an additional 603 shares during the period. Intercontinental Exchange makes up 0.4% of Tandem Wealth Advisors LLC’s investment portfolio, making the stock its 25th largest holding. Tandem Wealth Advisors LLC’s holdings in Intercontinental Exchange were worth $676,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently modified their holdings of ICE. Governors Lane LP boosted its stake in Intercontinental Exchange by 88.0% during the fourth quarter. Governors Lane LP now owns 127,100 shares of the financial services provider’s stock worth $18,939,000 after acquiring an additional 59,500 shares in the last quarter. Tema Etfs LLC bought a new stake in Intercontinental Exchange during the fourth quarter worth about $1,107,000. Capital Investment Advisory Services LLC bought a new stake in Intercontinental Exchange during the first quarter worth about $349,000. Sequoia Financial Advisors LLC boosted its stake in Intercontinental Exchange by 18.3% during the first quarter. Sequoia Financial Advisors LLC now owns 12,168 shares of the financial services provider’s stock worth $2,099,000 after acquiring an additional 1,879 shares in the last quarter. Finally, Lansforsakringar Fondforvaltning AB publ bought a new stake in Intercontinental Exchange during the fourth quarter worth about $28,949,000. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Trading Up 0.8%

Shares of NYSE ICE opened at $180.6060 on Friday. The firm’s 50 day moving average price is $182.25 and its 200-day moving average price is $174.18. The company has a market cap of $103.38 billion, a PE ratio of 34.67, a P/E/G ratio of 2.15 and a beta of 1.11. Intercontinental Exchange Inc. has a 52-week low of $142.29 and a 52-week high of $189.35. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.01.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, July 31st. The financial services provider reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.04. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The firm had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter in the prior year, the firm posted $1.52 earnings per share. The business’s revenue was up 9.8% on a year-over-year basis. On average, equities research analysts expect that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 1.1%. Intercontinental Exchange’s payout ratio is 36.85%.

Insider Activity

In other news, SVP Douglas Foley sold 1,600 shares of the business’s stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $177.48, for a total transaction of $283,968.00. Following the completion of the transaction, the senior vice president directly owned 27,313 shares of the company’s stock, valued at $4,847,511.24. The trade was a 5.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Andrew J. Surdykowski sold 3,848 shares of the business’s stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $179.12, for a total transaction of $689,253.76. Following the transaction, the general counsel directly owned 48,480 shares of the company’s stock, valued at $8,683,737.60. The trade was a 7.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 444,506 shares of company stock valued at $80,507,655 over the last three months. Corporate insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

ICE has been the topic of several research reports. UBS Group boosted their price objective on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the stock a “buy” rating in a research note on Tuesday, July 8th. Barclays boosted their price objective on shares of Intercontinental Exchange from $206.00 to $212.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Keefe, Bruyette & Woods boosted their price objective on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the stock an “outperform” rating in a research note on Friday, May 2nd. Morgan Stanley boosted their price objective on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the stock an “equal weight” rating in a research note on Monday, May 5th. Finally, Piper Sandler upped their target price on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 15th. Ten equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $194.92.

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.