Waldron Private Wealth LLC Sells 176 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Waldron Private Wealth LLC decreased its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 9.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,760 shares of the financial services provider’s stock after selling 176 shares during the period. Waldron Private Wealth LLC’s holdings in Intercontinental Exchange were worth $226,000 as of its most recent SEC filing.

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

Insider Activity at Intercontinental Exchange

In related news, CFO Warren Gardiner sold 2,176 shares of Intercontinental Exchange stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $136.00, for a total value of $295,936.00. Following the completion of the transaction, the chief financial officer now owns 12,061 shares in the company, valued at $1,640,296. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Intercontinental Exchange news, CFO Warren Gardiner sold 2,176 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $136.00, for a total transaction of $295,936.00. Following the transaction, the chief financial officer now owns 12,061 shares in the company, valued at $1,640,296. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jeffrey C. Sprecher sold 58,388 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 1,179,895 shares of the company’s stock, valued at approximately $161,893,392.95. 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 over the last 90 days. 1.10% of the stock is owned by corporate insiders.

Intercontinental Exchange Stock Performance

Shares of NYSE ICE opened at $129.89 on Wednesday. The firm’s fifty day moving average is $136.37 and its two-hundred day moving average is $124.17. Intercontinental Exchange, Inc. has a 52-week low of $103.81 and a 52-week high of $140.43. The company has a market cap of $74.37 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 debt-to-equity ratio of 0.80, a quick ratio of 1.00 and a current ratio of 1.00.

Intercontinental Exchange (NYSE:ICE) last posted its 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. The company had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.20 billion. Intercontinental Exchange had a return on equity of 12.91% and a net margin of 23.91%. The firm’s revenue for the quarter was up 24.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.25 earnings per share. As a group, analysts anticipate that Intercontinental Exchange, Inc. will post 5.98 EPS for the current fiscal year.

Intercontinental Exchange Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a $0.45 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This is a positive change from Intercontinental Exchange’s previous quarterly dividend of $0.42. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.39%. Intercontinental Exchange’s dividend payout ratio (DPR) is 42.86%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on ICE shares. UBS Group increased their price target on Intercontinental Exchange from $145.00 to $160.00 and gave the company a “buy” rating in a report on Monday, February 12th. StockNews.com raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Wednesday, February 14th. 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 note on Friday, February 9th. Piper Sandler boosted their price objective on shares of Intercontinental Exchange from $135.00 to $149.00 and gave the company an “overweight” rating in a research report on Monday, February 12th. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and issued a $152.00 price objective on shares of Intercontinental Exchange in a research note on Thursday, April 4th. 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 company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $147.08.

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.