Avestar Capital LLC Boosts Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

Avestar Capital LLC boosted its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 7.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,077 shares of the financial services provider’s stock after buying an additional 226 shares during the quarter. Avestar Capital LLC’s holdings in Intercontinental Exchange were worth $459,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ICE. MGB Wealth Management LLC raised its holdings in Intercontinental Exchange by 1.6% in the 4th quarter. MGB Wealth Management LLC now owns 6,238 shares of the financial services provider’s stock valued at $930,000 after acquiring an additional 96 shares during the last quarter. Consolidated Planning Corp raised its holdings in Intercontinental Exchange by 2.9% in the 4th quarter. Consolidated Planning Corp now owns 24,179 shares of the financial services provider’s stock valued at $3,603,000 after acquiring an additional 676 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in Intercontinental Exchange in the 4th quarter valued at $1,346,000. Certuity LLC acquired a new position in Intercontinental Exchange in the 4th quarter valued at $224,000. Finally, Peterson Wealth Services raised its holdings in Intercontinental Exchange by 2.9% in the 4th quarter. Peterson Wealth Services now owns 3,322 shares of the financial services provider’s stock valued at $495,000 after acquiring an additional 94 shares during the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Performance

NYSE:ICE opened at $166.85 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 1.00. The firm has a 50-day moving average of $154.20 and a two-hundred day moving average of $157.45. The stock has a market cap of $95.80 billion, a P/E ratio of 34.91, a PEG ratio of 3.21 and a beta of 1.11. Intercontinental Exchange, Inc. has a 1-year low of $124.34 and a 1-year high of $169.78.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, February 6th. The financial services provider reported $1.52 earnings per share for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.01). Intercontinental Exchange had a net margin of 23.42% and a return on equity of 12.95%. On average, research analysts expect that Intercontinental Exchange, Inc. will post 6.63 earnings per share for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th will be given a $0.48 dividend. The ex-dividend date is Tuesday, December 16th. This represents a $1.92 dividend on an annualized basis and a yield of 1.15%. Intercontinental Exchange’s payout ratio is currently 37.66%.

Insider Buying and Selling at Intercontinental Exchange

In other news, SVP Douglas Foley sold 10,580 shares of the stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $166.47, for a total transaction of $1,761,252.60. Following the transaction, the senior vice president now owns 21,992 shares of the company’s stock, valued at approximately $3,661,008.24. This trade represents a 32.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Benjamin Jackson sold 5,828 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $160.00, for a total transaction of $932,480.00. Following the transaction, the president now directly owns 156,163 shares in the company, valued at $24,986,080. The trade was a 3.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,358 shares of company stock valued at $5,535,650 in the last ninety days. Insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Keefe, Bruyette & Woods boosted their price target on Intercontinental Exchange from $178.00 to $186.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 price target on shares of Intercontinental Exchange in a report on Tuesday, January 7th. JPMorgan Chase & Co. dropped their price objective on Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating for the company in a report on Friday, January 17th. StockNews.com upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Monday, February 10th. Finally, UBS Group upped their price objective on Intercontinental Exchange from $185.00 to $195.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $178.80.

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.