Avior Wealth Management LLC Boosts Stock Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Avior Wealth Management LLC grew its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 0.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 17,645 shares of the financial services provider’s stock after purchasing an additional 105 shares during the quarter. Avior Wealth Management LLC’s holdings in Intercontinental Exchange were worth $2,266,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in ICE. OFI Invest Asset Management bought a new stake in Intercontinental Exchange in the 3rd quarter valued at about $25,000. Jones Financial Companies Lllp bought a new stake in Intercontinental Exchange in the 3rd quarter valued at about $26,000. Fortitude Family Office LLC bought a new stake in Intercontinental Exchange in the 4th quarter valued at about $28,000. BKM Wealth Management LLC bought a new stake in Intercontinental Exchange in the 4th quarter valued at about $31,000. Finally, First Capital Advisors Group LLC. bought a new stake in Intercontinental Exchange in the 2nd quarter valued at about $35,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Performance

Intercontinental Exchange stock opened at $129.90 on Wednesday. The firm’s 50 day simple moving average is $136.37 and its 200-day simple moving average is $124.17. The company has a market cap of $74.38 billion, a P/E ratio of 30.93, a price-to-earnings-growth ratio of 2.07 and a beta of 1.02. 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, Inc. has a fifty-two week low of $103.81 and a fifty-two week high of $140.43.

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

Intercontinental Exchange Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a dividend of $0.45 per share. The ex-dividend date was Thursday, March 14th. This is an increase from Intercontinental Exchange’s previous quarterly dividend of $0.42. This represents a $1.80 dividend on an annualized basis and a yield of 1.39%. Intercontinental Exchange’s payout ratio is presently 42.86%.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, CAO James W. Namkung sold 1,182 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $132.03, for a total value of $156,059.46. Following the completion of the sale, the chief accounting officer now directly owns 16,396 shares in the company, valued at $2,164,763.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Intercontinental Exchange news, CFO Warren Gardiner sold 500 shares of Intercontinental Exchange stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $138.83, for a total value of $69,415.00. Following the completion of the sale, the chief financial officer now directly owns 18,326 shares in the company, valued at $2,544,198.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO James W. Namkung sold 1,182 shares of the business’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 $156,059.46. Following the completion of the sale, the chief accounting officer now owns 16,396 shares of the company’s stock, valued at $2,164,763.88. The disclosure for this sale can be found here. Over the last three months, insiders have sold 157,491 shares of company stock valued at $21,454,204. Corporate insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on ICE. StockNews.com upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Wednesday, February 14th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $152.00 price target on shares of Intercontinental Exchange in a research report on Thursday, April 4th. Barclays boosted their price target on shares of Intercontinental Exchange from $153.00 to $155.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Piper Sandler boosted their price target on shares of Intercontinental Exchange from $135.00 to $149.00 and gave the stock an “overweight” rating in a research report on Monday, February 12th. Finally, Citigroup boosted their price target on shares of Intercontinental Exchange from $155.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, April 4th. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Intercontinental Exchange currently has an average rating of “Moderate Buy” and a consensus price target of $147.08.

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.