Yoder Wealth Management Inc. Lowers Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

Yoder Wealth Management Inc. lowered its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 8.8% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 1,531 shares of the financial services provider’s stock after selling 148 shares during the period. Yoder Wealth Management Inc.’s holdings in Intercontinental Exchange were worth $210,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Nordea Investment Management AB lifted its holdings in Intercontinental Exchange by 27.3% during the 4th quarter. Nordea Investment Management AB now owns 56,870 shares of the financial services provider’s stock worth $7,311,000 after buying an additional 12,208 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Intercontinental Exchange by 35.0% in the 4th quarter. Wellington Management Group LLP now owns 16,397,991 shares of the financial services provider’s stock valued at $2,105,994,000 after purchasing an additional 4,251,371 shares in the last quarter. D.A. Davidson & CO. raised its holdings in shares of Intercontinental Exchange by 8.5% in the 4th quarter. D.A. Davidson & CO. now owns 25,328 shares of the financial services provider’s stock valued at $3,253,000 after purchasing an additional 1,991 shares in the last quarter. Point72 Europe London LLP raised its holdings in shares of Intercontinental Exchange by 10.9% in the 4th quarter. Point72 Europe London LLP now owns 66,300 shares of the financial services provider’s stock valued at $8,515,000 after purchasing an additional 6,500 shares in the last quarter. Finally, Perpetual Ltd raised its holdings in shares of Intercontinental Exchange by 0.4% in the 1st quarter. Perpetual Ltd now owns 1,487,993 shares of the financial services provider’s stock valued at $204,495,000 after purchasing an additional 6,272 shares in the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Performance

Shares of NYSE:ICE traded up $0.32 during midday trading on Wednesday, hitting $141.14. The stock had a trading volume of 2,070,106 shares, compared to its average volume of 2,354,417. The company has a market capitalization of $80.96 billion, a PE ratio of 32.31, a P/E/G ratio of 2.55 and a beta of 1.06. The stock has a 50 day moving average price of $134.79 and a two-hundred day moving average price of $133.12. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.76. Intercontinental Exchange, Inc. has a 1 year low of $104.49 and a 1 year high of $141.59.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, May 2nd. The financial services provider reported $1.48 earnings per share for the quarter, meeting the consensus estimate of $1.48. The business had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.31 billion. Intercontinental Exchange had a net margin of 24.24% and a return on equity of 12.76%. The business’s quarterly revenue was up 20.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.41 earnings per share. As a group, equities analysts predict that Intercontinental Exchange, Inc. will post 5.96 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder Intercontinental Exchange, Inc bought 350,880 shares of the stock in a transaction dated Thursday, April 25th. The shares were acquired at an average price of $0.87 per share, with a total value of $305,265.60. Following the completion of the acquisition, the insider now directly owns 649,934 shares in the company, valued at $565,442.58. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, major shareholder Intercontinental Exchange, Inc acquired 350,880 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, April 25th. The stock was purchased at an average price of $0.87 per share, for a total transaction of $305,265.60. Following the completion of the purchase, the insider now directly owns 649,934 shares of the company’s stock, valued at $565,442.58. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 341 shares of the firm’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $131.74, for a total transaction of $44,923.34. Following the completion of the sale, the general counsel now owns 48,713 shares of the company’s stock, valued at approximately $6,417,450.62. The disclosure for this sale can be found here. Insiders have sold a total of 4,506 shares of company stock valued at $609,374 over the last quarter. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ICE. The Goldman Sachs Group upgraded shares of Intercontinental Exchange from a “neutral” rating to a “buy” rating and raised their price objective for the company from $143.00 to $167.00 in a report on Monday. Barclays cut their price target on shares of Intercontinental Exchange from $155.00 to $150.00 and set an “overweight” rating on the stock in a research note on Friday, May 3rd. Argus reiterated a “buy” rating and set a $153.00 price target on shares of Intercontinental Exchange in a research note on Tuesday, May 21st. Rosenblatt Securities reiterated a “buy” rating and set a $164.00 price target on shares of Intercontinental Exchange in a research note on Friday, May 3rd. Finally, Citigroup lifted their price target on shares of Intercontinental Exchange from $155.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, April 4th. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Intercontinental Exchange currently has a consensus rating of “Moderate Buy” and an average target price of $151.29.

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.