SVB Wealth LLC Trims Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

SVB Wealth LLC lessened its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 22.2% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 135,492 shares of the financial services provider’s stock after selling 38,658 shares during the period. SVB Wealth LLC’s holdings in Intercontinental Exchange were worth $17,401,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in ICE. Vanguard Group Inc. increased its stake in Intercontinental Exchange by 2.2% in the third quarter. Vanguard Group Inc. now owns 46,919,116 shares of the financial services provider’s stock valued at $5,162,041,000 after acquiring an additional 1,012,034 shares during the last quarter. Morgan Stanley increased its position in shares of Intercontinental Exchange by 18.9% during 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 purchasing an additional 4,044,744 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in shares of Intercontinental Exchange by 45.5% during 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. Wellington Management Group LLP lifted its position in 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 worth $1,336,371,000 after buying an additional 8,348,126 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Intercontinental Exchange by 1.2% in the first quarter. Geode Capital Management LLC now owns 10,503,361 shares of the financial services provider’s stock worth $1,092,660,000 after buying an additional 127,481 shares in the last quarter. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Trading Down 0.6 %

Shares of ICE traded down $0.72 during trading hours on Tuesday, reaching $129.82. 334,466 shares of the company traded hands, compared to its average volume of 2,372,707. Intercontinental Exchange, Inc. has a 12 month low of $103.81 and a 12 month high of $140.43. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.80. The company’s fifty day moving average price is $136.30 and its two-hundred day moving average price is $124.03. The company has a market capitalization of $74.34 billion, a price-to-earnings ratio of 31.09, a price-to-earnings-growth ratio of 2.11 and a beta of 1.02.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, February 8th. The financial services provider reported $1.33 EPS for the quarter, topping the consensus estimate of $1.29 by $0.04. Intercontinental Exchange had a net margin of 23.91% and a return on equity of 12.91%. The business had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.20 billion. During the same period last year, the business posted $1.25 earnings per share. Intercontinental Exchange’s quarterly revenue was up 24.5% compared to the same quarter last year. Equities research analysts predict that Intercontinental Exchange, Inc. will post 5.98 earnings per share for the current fiscal year.

Intercontinental Exchange Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.39%. This is a boost from Intercontinental Exchange’s previous quarterly dividend of $0.42. The ex-dividend date was Thursday, March 14th. Intercontinental Exchange’s dividend payout ratio is presently 42.86%.

Insiders Place Their Bets

In related news, SVP Douglas Foley sold 7,070 shares of Intercontinental Exchange stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $136.09, for a total transaction of $962,156.30. Following the completion of the transaction, the senior vice president now directly owns 18,383 shares of the company’s stock, valued at approximately $2,501,742.47. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Intercontinental Exchange news, CEO Jeffrey C. Sprecher sold 58,388 shares of the stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $137.21, for a total transaction of $8,011,417.48. Following the sale, the chief executive officer now directly owns 1,179,895 shares in the company, valued at approximately $161,893,392.95. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Douglas Foley sold 7,070 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $136.09, for a total value of $962,156.30. Following the transaction, the senior vice president now directly owns 18,383 shares in the company, valued at $2,501,742.47. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 157,491 shares of company stock worth $21,454,204. 1.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on ICE shares. JPMorgan Chase & Co. boosted their price objective on shares of Intercontinental Exchange from $142.00 to $151.00 and gave the stock an “overweight” rating in a report on Friday, February 9th. Raymond James upped their price target on shares of Intercontinental Exchange from $135.00 to $145.00 and gave the company a “strong-buy” rating in a research report on Friday, January 5th. Barclays boosted their target price on Intercontinental Exchange from $153.00 to $155.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Piper Sandler lifted their price target on Intercontinental Exchange from $135.00 to $149.00 and gave the stock an “overweight” rating in a research note on Monday, February 12th. Finally, Morgan Stanley raised their target price on shares of Intercontinental Exchange from $139.00 to $142.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. Three analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $147.08.

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.