Avior Wealth Management LLC Increases Stock Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Avior Wealth Management LLC lifted its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 0.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,645 shares of the financial services provider’s stock after buying an additional 105 shares during the period. Avior Wealth Management LLC’s holdings in Intercontinental Exchange were worth $2,266,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. RB Capital Management LLC boosted its position in Intercontinental Exchange by 3.2% in the first quarter. RB Capital Management LLC now owns 4,044 shares of the financial services provider’s stock worth $534,000 after purchasing an additional 126 shares during the last quarter. United Bank boosted its position in Intercontinental Exchange by 2.7% in the first quarter. United Bank now owns 15,988 shares of the financial services provider’s stock worth $2,112,000 after purchasing an additional 422 shares during the last quarter. U.S. Capital Wealth Advisors LLC boosted its position in Intercontinental Exchange by 13.5% in the first quarter. U.S. Capital Wealth Advisors LLC now owns 1,855 shares of the financial services provider’s stock worth $245,000 after purchasing an additional 220 shares during the last quarter. Sei Investments Co. boosted its position in Intercontinental Exchange by 31.5% in the first quarter. Sei Investments Co. now owns 204,883 shares of the financial services provider’s stock worth $27,077,000 after purchasing an additional 49,081 shares during the last quarter. Finally, Prudential PLC purchased a new position in Intercontinental Exchange in the first quarter worth $1,679,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Insiders Place Their Bets

In other Intercontinental Exchange news, major shareholder Intercontinental Exchange, Inc acquired 2,762,009 shares of the company’s stock in a transaction on Monday, March 4th. The stock was acquired at an average price of $0.87 per share, for a total transaction of $2,402,947.83. Following the acquisition, the insider now owns 7,476,345 shares in the company, valued at approximately $6,504,420.15. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CAO James W. Namkung sold 1,182 shares of Intercontinental Exchange stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $132.03, for a total transaction of $156,059.46. Following the transaction, the chief accounting officer now directly owns 16,396 shares in the company, valued at $2,164,763.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Intercontinental Exchange, Inc purchased 2,762,009 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were acquired at an average cost of $0.87 per share, for a total transaction of $2,402,947.83. Following the completion of the acquisition, the insider now owns 7,476,345 shares of the company’s stock, valued at $6,504,420.15. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 157,491 shares of company stock worth $21,454,204. 1.10% of the stock is currently owned by company insiders.

Intercontinental Exchange Price Performance

Shares of NYSE ICE opened at $129.90 on Wednesday. The firm has a market capitalization of $74.38 billion, a P/E ratio of 30.93, a P/E/G ratio of 2.07 and a beta of 1.02. 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 stock’s 50-day simple moving average is $136.37 and its two-hundred day simple moving average is $124.17. Intercontinental Exchange, Inc. has a twelve month low of $103.81 and a twelve month high of $140.43.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, February 8th. The financial services provider reported $1.33 earnings per share 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 business had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.20 billion. During the same period in the prior year, the company earned $1.25 EPS. The company’s quarterly revenue was up 24.5% compared to the same quarter last year. As a group, equities analysts anticipate that Intercontinental Exchange, Inc. will post 5.98 EPS for the current fiscal year.

Intercontinental Exchange Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a $0.45 dividend. The ex-dividend date was Thursday, March 14th. 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. Intercontinental Exchange’s dividend payout ratio (DPR) is 42.86%.

Analyst Ratings Changes

ICE has been the topic of several research reports. JPMorgan Chase & Co. boosted their target price on Intercontinental Exchange from $142.00 to $151.00 and gave the company an “overweight” rating in a research note on Friday, February 9th. StockNews.com upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Wednesday, February 14th. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $152.00 price objective on shares of Intercontinental Exchange in a research note on Thursday, April 4th. Barclays boosted their price objective on Intercontinental Exchange from $153.00 to $155.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Finally, Piper Sandler boosted their price objective on Intercontinental Exchange from $135.00 to $149.00 and gave the company an “overweight” rating in a research note on Monday, February 12th. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.