Quadcap Wealth Management LLC Has $918,000 Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Quadcap Wealth Management LLC raised its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 1.2% in the fourth quarter, Holdings Channel reports. The fund owned 6,162 shares of the financial services provider’s stock after acquiring an additional 71 shares during the period. Quadcap Wealth Management LLC’s holdings in Intercontinental Exchange were worth $918,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ICE. Sierra Ocean LLC acquired a new position in Intercontinental Exchange in the fourth quarter valued at about $25,000. Redwood Park Advisors LLC acquired a new position in Intercontinental Exchange in the fourth quarter valued at about $33,000. Lee Danner & Bass Inc. acquired a new position in Intercontinental Exchange in the fourth quarter valued at about $34,000. BankPlus Trust Department acquired a new position in Intercontinental Exchange in the fourth quarter valued at about $40,000. Finally, Kapitalo Investimentos Ltda acquired a new position in Intercontinental Exchange in the fourth quarter valued at about $44,000. 89.30% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ICE. Morgan Stanley boosted their target price on Intercontinental Exchange from $181.00 to $192.00 and gave the company an “equal weight” rating in a research note on Monday, May 5th. Bank of America decreased their target price on Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating for the company in a research note on Wednesday, April 2nd. UBS Group upped their price objective on Intercontinental Exchange from $185.00 to $195.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. JPMorgan Chase & Co. reduced their price objective on Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Finally, Keefe, Bruyette & Woods upped their price objective on Intercontinental Exchange from $183.00 to $189.00 and gave the stock an “outperform” rating in a research report on Friday, May 2nd. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $185.93.

Insider Buying and Selling at Intercontinental Exchange

In other news, insider Christopher Scott Edmonds sold 6,834 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $166.99, for a total transaction of $1,141,209.66. Following the transaction, the insider now owns 17,972 shares in the company, valued at approximately $3,001,144.28. This trade represents a 27.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Benjamin Jackson sold 17,104 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $166.62, for a total value of $2,849,868.48. Following the transaction, the president now owns 155,174 shares in the company, valued at approximately $25,855,091.88. This trade represents a 9.93% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 42,368 shares of company stock worth $7,077,789 over the last 90 days. Company insiders own 1.00% of the company’s stock.

Intercontinental Exchange Stock Performance

ICE opened at $174.91 on Friday. Intercontinental Exchange, Inc. has a 52-week low of $131.79 and a 52-week high of $179.44. The firm has a market capitalization of $100.33 billion, a PE ratio of 36.59, a PEG ratio of 2.10 and a beta of 1.12. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.99 and a current ratio of 0.99. The business’s 50-day simple moving average is $167.15 and its 200 day simple moving average is $161.20.

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

Intercontinental Exchange Dividend Announcement

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 issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 1.10%. Intercontinental Exchange’s payout ratio is presently 39.75%.

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.