SVB Wealth LLC Cuts Stock Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

SVB Wealth LLC cut its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 22.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 135,492 shares of the financial services provider’s stock after selling 38,658 shares during the period. SVB Wealth LLC’s holdings in Intercontinental Exchange were worth $17,401,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. OFI Invest Asset Management acquired a new stake in Intercontinental Exchange in the 3rd quarter valued at $25,000. Jones Financial Companies Lllp acquired a new stake in shares of Intercontinental Exchange in the third quarter valued at about $26,000. Fortitude Family Office LLC purchased a new stake in shares of Intercontinental Exchange during the fourth quarter worth about $28,000. BKM Wealth Management LLC acquired a new position in shares of Intercontinental Exchange during the 4th quarter worth about $31,000. Finally, First Capital Advisors Group LLC. purchased a new position in Intercontinental Exchange in the 2nd quarter valued at about $35,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Wall Street Analysts Forecast Growth

ICE has been the subject of several research reports. UBS Group boosted their price objective on Intercontinental Exchange from $145.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, February 12th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $152.00 price objective on shares of Intercontinental Exchange in a research note on Thursday, April 4th. 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. Morgan Stanley increased their target price on shares of Intercontinental Exchange from $139.00 to $142.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. Finally, StockNews.com upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Wednesday, February 14th. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $147.08.

Insider Buying and Selling at Intercontinental Exchange

In other news, insider Elizabeth Kathryn King sold 3,783 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $132.03, for a total transaction of $499,469.49. Following the completion of the transaction, the insider now directly owns 17,242 shares in the company, valued at $2,276,461.26. The transaction was disclosed in a document filed with the SEC, which is available at 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 shares were sold at an average price of $137.21, for a total transaction of $8,011,417.48. Following the sale, the chief executive officer now directly owns 1,179,895 shares in the company, valued at $161,893,392.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Elizabeth Kathryn King sold 3,783 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $132.03, for a total transaction of $499,469.49. Following the completion of the transaction, the insider now directly owns 17,242 shares of the company’s stock, valued at approximately $2,276,461.26. 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 quarter. 1.10% of the stock is owned by company insiders.

Intercontinental Exchange Trading Down 0.6 %

Shares of ICE stock traded down $0.72 during trading on Tuesday, hitting $129.82. 334,466 shares of the stock traded hands, compared to its average volume of 2,372,707. Intercontinental Exchange, Inc. has a 52-week low of $103.81 and a 52-week high of $140.43. The firm has a market capitalization of $74.34 billion, a P/E ratio of 31.09, a price-to-earnings-growth ratio of 2.11 and a beta of 1.02. The firm’s fifty day moving average price is $136.30 and its 200-day moving average price is $124.03. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.00 and a quick ratio of 1.00.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, February 8th. The financial services provider reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.04. The company had revenue of $2.20 billion during the quarter, compared to analyst estimates 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 last year, the firm posted $1.25 earnings per share. As a group, research analysts forecast that Intercontinental Exchange, Inc. will post 5.98 earnings per share for the current fiscal year.

Intercontinental Exchange Increases Dividend

The business 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. This represents a $1.80 annualized dividend and a yield of 1.39%. The ex-dividend date was Thursday, March 14th. This is an increase from Intercontinental Exchange’s previous quarterly dividend of $0.42. Intercontinental Exchange’s dividend payout ratio (DPR) is 42.86%.

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.