Scissortail Wealth Management LLC Buys New Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Scissortail Wealth Management LLC bought a new stake in Intercontinental Exchange, Inc. (NYSE:ICE) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 5,071 shares of the financial services provider’s stock, valued at approximately $650,000.

Several other large investors have also recently made changes to their positions in the business. Avior Wealth Management LLC raised its stake in shares of Intercontinental Exchange by 0.6% during the fourth quarter. Avior Wealth Management LLC now owns 17,645 shares of the financial services provider’s stock worth $2,266,000 after acquiring an additional 105 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Intercontinental Exchange by 1.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 218,370 shares of the financial services provider’s stock worth $28,045,000 after buying an additional 2,948 shares during the period. Lipe & Dalton increased its stake in shares of Intercontinental Exchange by 2.9% in the fourth quarter. Lipe & Dalton now owns 3,560 shares of the financial services provider’s stock worth $457,000 after buying an additional 100 shares during the period. Wealth Alliance increased its stake in shares of Intercontinental Exchange by 54.6% in the fourth quarter. Wealth Alliance now owns 3,583 shares of the financial services provider’s stock worth $460,000 after buying an additional 1,265 shares during the period. Finally, Crescent Grove Advisors LLC purchased a new position in shares of Intercontinental Exchange in the fourth quarter worth $19,586,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Intercontinental Exchange news, CAO James W. Namkung sold 1,182 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $132.03, for a total value of $156,059.46. Following the completion of the transaction, the chief accounting officer now owns 16,396 shares of the company’s stock, valued at approximately $2,164,763.88. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Intercontinental Exchange news, CEO Jeffrey C. Sprecher sold 58,388 shares of the business’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $137.21, for a total value of $8,011,417.48. Following the completion of the transaction, the chief executive officer now owns 1,179,895 shares of the company’s stock, valued at approximately $161,893,392.95. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO James W. Namkung sold 1,182 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $132.03, for a total value of $156,059.46. Following the completion of the transaction, the chief accounting officer now directly owns 16,396 shares of the company’s stock, valued at approximately $2,164,763.88. The disclosure for this sale can be found here. Insiders have sold a total of 157,491 shares of company stock worth $21,454,204 in the last quarter. Corporate insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ICE. Raymond James lifted their target price on shares of Intercontinental Exchange from $135.00 to $145.00 and gave the stock a “strong-buy” rating in a research note on Friday, January 5th. 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. UBS Group lifted their target price on shares of Intercontinental Exchange from $145.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, February 12th. Rosenblatt Securities lifted their target price on shares of Intercontinental Exchange from $154.00 to $164.00 and gave the stock a “buy” rating in a research note on Friday, February 9th. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $152.00 price target on shares of Intercontinental Exchange in a report on Thursday, April 4th. Three investment 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 company. Based on data from MarketBeat, Intercontinental Exchange has a consensus rating of “Moderate Buy” and a consensus target price of $147.08.

Intercontinental Exchange Stock Down 0.5 %

Shares of ICE stock traded down $0.64 during mid-day trading on Wednesday, reaching $129.90. 2,637,594 shares of the company’s stock traded hands, compared to its average volume of 2,272,589. Intercontinental Exchange, Inc. has a 12 month low of $103.81 and a 12 month high of $140.43. The company has a market cap 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 company’s 50-day moving average price is $136.37 and its 200-day moving average price is $124.17.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, February 8th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.29 by $0.04. The company had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.20 billion. Intercontinental Exchange had a net margin of 23.91% and a return on equity of 12.91%. Intercontinental Exchange’s revenue was up 24.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.25 EPS. On average, equities analysts expect 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 is a boost from Intercontinental Exchange’s previous quarterly dividend of $0.42. The ex-dividend date was Thursday, March 14th. This represents a $1.80 dividend on an annualized basis and a yield of 1.39%. Intercontinental Exchange’s payout ratio is presently 42.86%.

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.