Kestra Private Wealth Services LLC Has $7.71 Million Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Kestra Private Wealth Services LLC boosted its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 10.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,014 shares of the financial services provider’s stock after acquiring an additional 5,843 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Intercontinental Exchange were worth $7,708,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Fortitude Family Office LLC acquired a new stake in Intercontinental Exchange in the 4th quarter valued at about $28,000. Stuart Chaussee & Associates Inc. acquired a new stake in shares of Intercontinental Exchange in the fourth quarter valued at approximately $28,000. Jones Financial Companies Lllp acquired a new stake in shares of Intercontinental Exchange in the third quarter valued at approximately $26,000. OFI Invest Asset Management bought a new position in shares of Intercontinental Exchange during the 3rd quarter worth approximately $25,000. Finally, BKM Wealth Management LLC acquired a new position in shares of Intercontinental Exchange during the 4th quarter worth approximately $31,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on ICE shares. Morgan Stanley raised their price target on Intercontinental Exchange from $139.00 to $142.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. Rosenblatt Securities raised their target price on shares of Intercontinental Exchange from $154.00 to $164.00 and gave the stock a “buy” rating in a research note on Friday, February 9th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $152.00 price target on shares of Intercontinental Exchange in a research note on Thursday, April 4th. Citigroup increased their price target 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. Finally, Piper Sandler boosted their price objective on Intercontinental Exchange from $135.00 to $149.00 and gave the stock an “overweight” rating in a report on Monday, February 12th. Three investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Intercontinental Exchange currently has an average rating of “Moderate Buy” and an average target price of $148.08.

Insider Buying and Selling at Intercontinental Exchange

In other news, CFO Warren Gardiner sold 500 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $138.83, for a total transaction of $69,415.00. Following the completion of the sale, the chief financial officer now owns 18,326 shares of the company’s stock, valued at approximately $2,544,198.58. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Intercontinental Exchange news, major shareholder Intercontinental Exchange, Inc acquired 2,762,009 shares of Intercontinental Exchange stock in a transaction that occurred on Monday, March 4th. The shares were acquired at an average cost of $0.87 per share, with a total value of $2,402,947.83. Following the completion of the purchase, the insider now directly owns 7,476,345 shares of the company’s stock, valued at approximately $6,504,420.15. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Warren Gardiner sold 500 shares of the stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $138.83, for a total transaction of $69,415.00. Following the completion of the transaction, the chief financial officer now directly owns 18,326 shares of the company’s stock, valued at approximately $2,544,198.58. 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 in the last ninety days. 1.10% of the stock is currently owned by company insiders.

Intercontinental Exchange Price Performance

Shares of NYSE ICE traded down $0.81 during midday trading on Tuesday, reaching $129.97. The company’s stock had a trading volume of 640,795 shares, compared to its average volume of 2,354,987. The company has a market cap of $74.42 billion, a P/E ratio of 31.14, a P/E/G ratio of 2.15 and a beta of 1.02. Intercontinental Exchange, Inc. has a fifty-two week low of $103.81 and a fifty-two week high of $140.43. 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 business’s 50 day moving average price is $135.74 and its two-hundred day moving average price is $125.52.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, February 8th. The financial services provider reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.04. The firm had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.20 billion. Intercontinental Exchange had a return on equity of 12.91% and a net margin of 23.91%. The company’s quarterly revenue was up 24.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.25 EPS. On average, analysts forecast that Intercontinental Exchange, Inc. will post 5.97 EPS for the current fiscal year.

Intercontinental Exchange Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.38%. This is an increase from Intercontinental Exchange’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Thursday, March 14th. Intercontinental Exchange’s dividend payout ratio is presently 42.86%.

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.