Signal Advisors Wealth LLC Trims Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Signal Advisors Wealth LLC trimmed its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 7.4% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 3,060 shares of the financial services provider’s stock after selling 245 shares during the period. Signal Advisors Wealth LLC’s holdings in Intercontinental Exchange were worth $528,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in ICE. Norges Bank purchased a new stake in shares of Intercontinental Exchange in the 4th quarter valued at approximately $1,196,258,000. Royal Bank of Canada raised its stake in shares of Intercontinental Exchange by 132.9% in the 4th quarter. Royal Bank of Canada now owns 9,121,352 shares of the financial services provider’s stock valued at $1,359,173,000 after acquiring an additional 5,204,309 shares during the period. Kovitz Investment Group Partners LLC raised its stake in shares of Intercontinental Exchange by 423.8% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 4,546,437 shares of the financial services provider’s stock valued at $677,465,000 after acquiring an additional 3,678,384 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Intercontinental Exchange in the 4th quarter valued at approximately $406,728,000. Finally, GAMMA Investing LLC raised its stake in shares of Intercontinental Exchange by 24,394.4% in the 1st quarter. GAMMA Investing LLC now owns 2,264,753 shares of the financial services provider’s stock valued at $3,906,700,000 after acquiring an additional 2,255,507 shares during the period. 89.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ICE. Barclays upped their target price on shares of Intercontinental Exchange from $189.00 to $198.00 and gave the stock an “overweight” rating in a research note on Friday, May 2nd. Keefe, Bruyette & Woods upped their target price on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the stock an “outperform” rating in a research note on Friday, May 2nd. UBS Group upped their target price on shares of Intercontinental Exchange from $185.00 to $195.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Bank of America cut their target price on shares of Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating on the stock in a research note on Wednesday, April 2nd. Finally, Morgan Stanley upped their target price on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the stock an “equal weight” rating in a research note on Monday, May 5th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, Intercontinental Exchange currently has an average rating of “Moderate Buy” and an average target price of $188.46.

Intercontinental Exchange Trading Up 0.1%

NYSE ICE opened at $178.70 on Friday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. Intercontinental Exchange, Inc. has a 52 week low of $132.93 and a 52 week high of $180.89. The stock has a market capitalization of $102.51 billion, a PE ratio of 37.38, a price-to-earnings-growth ratio of 2.10 and a beta of 1.12. The firm has a 50 day moving average of $168.60 and a two-hundred day moving average of $163.40.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, May 1st. The financial services provider reported $1.72 EPS for the quarter, topping the consensus estimate of $1.70 by $0.02. Intercontinental Exchange had a net margin of 23.42% and a return on equity of 12.95%. The company had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.44 billion. During the same quarter in the previous year, the business posted $1.48 EPS. The firm’s revenue was up 8.0% on a year-over-year basis. As a group, research analysts expect that Intercontinental Exchange, Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.07%. Intercontinental Exchange’s dividend payout ratio (DPR) is 39.75%.

Insider Activity at Intercontinental Exchange

In related news, CAO James W. Namkung sold 612 shares of the stock in a transaction on Friday, May 30th. The shares were sold at an average price of $180.00, for a total value of $110,160.00. Following the transaction, the chief accounting officer now directly owns 13,220 shares of the company’s stock, valued at $2,379,600. This trade represents a 4.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $179.22, for a total transaction of $26,883,000.00. Following the completion of the transaction, the chief executive officer now directly owns 2,101,705 shares in the company, valued at $376,667,570.10. This trade represents a 6.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 226,354 shares of company stock valued at $40,512,695 in the last ninety days. Insiders own 1.00% of the company’s stock.

Intercontinental Exchange Company 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.