Intercontinental Exchange, Inc. (NYSE:ICE) Shares Purchased by TRUE Private Wealth Advisors

TRUE Private Wealth Advisors grew its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 34.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,404 shares of the financial services provider’s stock after acquiring an additional 865 shares during the quarter. TRUE Private Wealth Advisors’ holdings in Intercontinental Exchange were worth $437,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of ICE. Vanguard Group Inc. raised its stake in Intercontinental Exchange by 2.2% during the third quarter. Vanguard Group Inc. now owns 46,919,116 shares of the financial services provider’s stock worth $5,162,041,000 after purchasing an additional 1,012,034 shares during the period. Morgan Stanley boosted its holdings in Intercontinental Exchange by 18.9% in the fourth quarter. Morgan Stanley now owns 25,406,629 shares of the financial services provider’s stock valued at $2,606,466,000 after acquiring an additional 4,044,744 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in Intercontinental Exchange by 45.5% in the fourth 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 acquiring an additional 5,354,161 shares during the last quarter. Wellington Management Group LLP grew its position in Intercontinental Exchange by 219.8% during the third 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 acquiring an additional 8,348,126 shares during the period. Finally, Geode Capital Management LLC increased its stake in Intercontinental Exchange by 1.2% during 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 acquiring an additional 127,481 shares during the last quarter. 89.30% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ICE has been the subject of a number of research reports. Raymond James boosted their target price on Intercontinental Exchange from $135.00 to $145.00 and gave the stock a “strong-buy” rating in a report on Friday, January 5th. JPMorgan Chase & Co. increased their price objective on shares of Intercontinental Exchange from $142.00 to $151.00 and gave the stock an “overweight” rating in a research report on Friday, February 9th. Citigroup raised their target price on shares of Intercontinental Exchange from $155.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. Morgan Stanley increased their price target on Intercontinental Exchange from $139.00 to $142.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. Finally, Rosenblatt Securities raised their price objective on Intercontinental Exchange from $154.00 to $164.00 and gave the company a “buy” rating in a research report on Friday, February 9th. Three analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $147.08.

Insiders Place Their Bets

In related news, CFO Warren Gardiner sold 500 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $138.83, for a total transaction of $69,415.00. Following the sale, the chief financial officer now directly owns 18,326 shares of the company’s stock, valued at approximately $2,544,198.58. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Judith A. Sprieser sold 2,238 shares of the stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $137.36, for a total transaction of $307,411.68. Following the sale, the director now owns 29,347 shares in the company, valued at $4,031,103.92. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Warren Gardiner sold 500 shares of Intercontinental Exchange stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $138.83, for a total value of $69,415.00. Following the completion of the transaction, the chief financial officer now owns 18,326 shares of the company’s stock, valued at $2,544,198.58. The disclosure for this sale can be found here. Insiders have sold a total of 157,491 shares of company stock valued at $21,454,204 in the last quarter. Insiders own 1.10% of the company’s stock.

Intercontinental Exchange Stock Performance

Intercontinental Exchange stock opened at $130.74 on Thursday. Intercontinental Exchange, Inc. has a 52 week low of $103.81 and a 52 week high of $140.43. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.80. The stock has a market cap of $74.86 billion, a P/E ratio of 31.13, a price-to-earnings-growth ratio of 2.06 and a beta of 1.02. The stock has a 50 day moving average of $136.42 and a 200-day moving average of $124.22.

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

Intercontinental Exchange Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a $0.45 dividend. This is a positive change from Intercontinental Exchange’s previous quarterly dividend of $0.42. This represents a $1.80 annualized dividend and a yield of 1.38%. The ex-dividend date was Thursday, March 14th. Intercontinental Exchange’s payout ratio is currently 42.86%.

About Intercontinental Exchange

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.