TRUE Private Wealth Advisors Grows Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

TRUE Private Wealth Advisors grew its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 34.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,404 shares of the financial services provider’s stock after purchasing an additional 865 shares during the period. TRUE Private Wealth Advisors’ holdings in Intercontinental Exchange were worth $437,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Fortitude Family Office LLC acquired a new stake in Intercontinental Exchange in the fourth quarter worth about $28,000. Jones Financial Companies Lllp purchased a new stake in Intercontinental Exchange during the 3rd quarter worth approximately $26,000. OFI Invest Asset Management acquired a new position in Intercontinental Exchange during the 3rd quarter valued at approximately $25,000. BKM Wealth Management LLC purchased a new position in shares of Intercontinental Exchange in the fourth quarter worth $31,000. Finally, First Capital Advisors Group LLC. acquired a new stake in shares of Intercontinental Exchange during the second quarter worth $35,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Intercontinental Exchange Stock Performance

Shares of ICE opened at $130.74 on Thursday. Intercontinental Exchange, Inc. has a 1 year low of $103.81 and a 1 year high of $140.43. The stock has a market capitalization of $74.86 billion, a PE ratio of 31.13, a PEG ratio of 2.06 and a beta of 1.02. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a 50-day simple moving average of $136.42 and a 200-day simple moving average of $124.22.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, February 8th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.29 by $0.04. Intercontinental Exchange had a net margin of 23.91% and a return on equity of 12.91%. The company had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.20 billion. During the same quarter in the previous year, the firm earned $1.25 earnings per share. The firm’s quarterly revenue was up 24.5% on a year-over-year basis. On average, analysts predict that Intercontinental Exchange, Inc. will post 5.98 earnings per share for the current fiscal year.

Intercontinental Exchange Increases Dividend

The firm 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 1.38%. The ex-dividend date of this dividend was Thursday, March 14th. This is a positive change from Intercontinental Exchange’s previous quarterly dividend of $0.42. Intercontinental Exchange’s dividend payout ratio is 42.86%.

Insider Buying and Selling at Intercontinental Exchange

In other news, CFO Warren Gardiner sold 2,176 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $136.00, for a total value of $295,936.00. Following the transaction, the chief financial officer now owns 12,061 shares in the company, valued at approximately $1,640,296. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Intercontinental Exchange news, CFO Warren Gardiner sold 2,176 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $136.00, for a total value of $295,936.00. Following the transaction, the chief financial officer now directly owns 12,061 shares in the company, valued at $1,640,296. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Douglas Foley sold 7,070 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $136.09, for a total transaction of $962,156.30. Following the sale, the senior vice president now owns 18,383 shares of the company’s stock, valued at approximately $2,501,742.47. The disclosure for this sale can be found here. Insiders have sold a total of 157,491 shares of company stock worth $21,454,204 over the last ninety days. Corporate insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on ICE shares. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $152.00 target price on shares of Intercontinental Exchange in a research report on Thursday, April 4th. JPMorgan Chase & Co. raised their price objective on Intercontinental Exchange from $142.00 to $151.00 and gave the stock an “overweight” rating in a research note on Friday, February 9th. Rosenblatt Securities upped their target price on Intercontinental Exchange from $154.00 to $164.00 and gave the company a “buy” rating in a research report on Friday, February 9th. Morgan Stanley raised their price target on shares of Intercontinental Exchange from $139.00 to $142.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. Finally, Citigroup upped their price objective on shares of Intercontinental Exchange from $155.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, April 4th. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $147.08.

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.