Values Added Financial LLC Buys Shares of 1,670 Intercontinental Exchange, Inc. (NYSE:ICE)

Values Added Financial LLC bought a new stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) during the fourth quarter, Holdings Channel reports. The fund bought 1,670 shares of the financial services provider’s stock, valued at approximately $214,000.

Other institutional investors have also added to or reduced their stakes in the company. Wellington Management Group LLP boosted its holdings in shares of Intercontinental Exchange by 219.8% in the 3rd quarter. Wellington Management Group LLP now owns 12,146,620 shares of the financial services provider’s stock valued at $1,336,371,000 after buying an additional 8,348,126 shares in the last quarter. Norges Bank bought a new stake in shares of Intercontinental Exchange in the 4th quarter valued at about $579,605,000. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Intercontinental Exchange by 45.5% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 17,114,267 shares of the financial services provider’s stock valued at $1,755,753,000 after buying an additional 5,354,161 shares in the last quarter. Morgan Stanley boosted its holdings in shares of Intercontinental Exchange by 18.9% in the 4th quarter. Morgan Stanley now owns 25,406,629 shares of the financial services provider’s stock valued at $2,606,466,000 after buying an additional 4,044,744 shares in the last quarter. Finally, Third Point LLC bought a new stake in shares of Intercontinental Exchange in the 2nd quarter valued at about $209,198,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Up 0.3 %

ICE opened at $137.37 on Friday. The business has a 50 day moving average price of $134.20 and a 200 day moving average price of $121.92. Intercontinental Exchange, Inc. has a twelve month low of $99.84 and a twelve month high of $140.43. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a market cap of $78.66 billion, a P/E ratio of 32.71, a price-to-earnings-growth ratio of 2.45 and a beta of 1.02.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, February 8th. The financial services provider reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.04. Intercontinental Exchange had a return on equity of 12.91% and a net margin of 23.91%. The company had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.20 billion. During the same period in the previous year, the company earned $1.25 earnings per share. The company’s quarterly revenue was up 24.5% compared to the same quarter last year. Research analysts forecast that Intercontinental Exchange, Inc. will post 5.91 EPS for the current year.

Intercontinental Exchange Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 15th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.31%. This is a boost from Intercontinental Exchange’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Thursday, March 14th. Intercontinental Exchange’s dividend payout ratio is 42.86%.

Insider Transactions at Intercontinental Exchange

In other news, CEO Jeffrey C. Sprecher sold 58,388 shares of the company’s stock in a transaction on Thursday, January 4th. The stock was sold at an average price of $125.90, for a total transaction of $7,351,049.20. Following the transaction, the chief executive officer now owns 1,152,375 shares of the company’s stock, valued at $145,084,012.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Elizabeth Kathryn King sold 3,783 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $132.03, for a total transaction of $499,469.49. Following the transaction, the insider now directly owns 17,242 shares of the company’s stock, valued at approximately $2,276,461.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jeffrey C. Sprecher sold 58,388 shares of the business’s stock in a transaction on Thursday, January 4th. The shares were sold at an average price of $125.90, for a total value of $7,351,049.20. Following the completion of the sale, the chief executive officer now owns 1,152,375 shares of the company’s stock, valued at $145,084,012.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 155,253 shares of company stock worth $20,486,424. Insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on ICE. Morgan Stanley lifted their target price on shares of Intercontinental Exchange from $133.00 to $139.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 13th. UBS Group raised their price target on shares of Intercontinental Exchange from $145.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, February 12th. Citigroup lifted their target price on shares of Intercontinental Exchange from $146.00 to $155.00 and gave the company a “buy” rating in a research report on Tuesday, February 13th. StockNews.com raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Wednesday, February 14th. Finally, Piper Sandler lifted their target price on shares of Intercontinental Exchange from $135.00 to $149.00 and gave the stock an “overweight” rating in a research note on Monday, February 12th. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $145.83.

Intercontinental Exchange 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.