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

Bison Wealth LLC raised its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 4.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,760 shares of the financial services provider’s stock after buying an additional 284 shares during the period. Bison Wealth LLC’s holdings in Intercontinental Exchange were worth $868,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. OFI Invest Asset Management purchased a new stake in Intercontinental Exchange during the third quarter valued at about $25,000. Jones Financial Companies Lllp purchased a new stake in Intercontinental Exchange during the third quarter valued at about $26,000. Fortitude Family Office LLC purchased a new stake in Intercontinental Exchange during the fourth quarter valued at about $28,000. BKM Wealth Management LLC purchased a new stake in Intercontinental Exchange during the fourth quarter valued at about $31,000. Finally, First Capital Advisors Group LLC. purchased a new stake in Intercontinental Exchange during the second quarter valued at about $35,000. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, major shareholder Intercontinental Exchange, Inc bought 2,762,009 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was acquired at an average price of $0.87 per share, with a total value of $2,402,947.83. Following the completion of the purchase, the insider now owns 7,476,345 shares of the company’s stock, valued at $6,504,420.15. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Jeffrey C. Sprecher sold 58,388 shares of the stock in a transaction that occurred on 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 owns 1,179,895 shares in the company, valued at $161,893,392.95. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Intercontinental Exchange, Inc purchased 2,762,009 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were purchased at an average price of $0.87 per share, for a total transaction of $2,402,947.83. Following the acquisition, the insider now owns 7,476,345 shares of the company’s stock, valued at $6,504,420.15. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 157,491 shares of company stock valued at $21,454,204. Corporate insiders own 1.10% of the company’s stock.

Intercontinental Exchange Price Performance

ICE stock opened at $130.58 on Tuesday. Intercontinental Exchange, Inc. has a 1 year low of $103.81 and a 1 year high of $140.43. The firm has a 50-day moving average of $136.30 and a 200 day moving average of $124.03. The company has a market cap of $74.77 billion, a P/E ratio of 31.09, a PEG ratio of 2.11 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 (NYSE:ICE) last announced its earnings results on Thursday, February 8th. The financial services provider reported $1.33 earnings per share for the quarter, beating 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 business had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.20 billion. During the same quarter last year, the firm earned $1.25 earnings per share. The business’s revenue for the quarter was up 24.5% on a year-over-year basis. On average, sell-side analysts forecast that Intercontinental Exchange, Inc. will post 5.98 EPS for the current year.

Intercontinental Exchange Increases Dividend

The firm also recently announced 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 is an increase from Intercontinental Exchange’s previous quarterly dividend of $0.42. The ex-dividend date was Thursday, March 14th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.38%. Intercontinental Exchange’s dividend payout ratio (DPR) is currently 42.86%.

Analysts Set New Price Targets

Several brokerages have recently commented on ICE. Rosenblatt Securities upped their price objective on shares of Intercontinental Exchange from $154.00 to $164.00 and gave the company a “buy” rating in a research note on Friday, February 9th. UBS Group upped their price objective on shares of Intercontinental Exchange from $145.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, February 12th. JPMorgan Chase & Co. upped their price objective on shares of Intercontinental Exchange from $142.00 to $151.00 and gave the company an “overweight” rating in a research note on Friday, February 9th. Raymond James upped their price objective on shares of Intercontinental Exchange from $135.00 to $145.00 and gave the company a “strong-buy” rating in a research note on Friday, January 5th. Finally, Barclays upped their price objective on shares of Intercontinental Exchange from $153.00 to $155.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price 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.