Scissortail Wealth Management LLC Acquires Shares of 5,071 Intercontinental Exchange, Inc. (NYSE:ICE)

Scissortail Wealth Management LLC acquired a new stake in Intercontinental Exchange, Inc. (NYSE:ICE) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 5,071 shares of the financial services provider’s stock, valued at approximately $650,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ICE. OFI Invest Asset Management bought a new position in Intercontinental Exchange in the third quarter valued at approximately $25,000. Jones Financial Companies Lllp acquired a new stake in Intercontinental Exchange in the third quarter worth $26,000. Fortitude Family Office LLC acquired a new stake in Intercontinental Exchange in the fourth quarter worth $28,000. BKM Wealth Management LLC acquired a new stake in Intercontinental Exchange in the fourth quarter worth $31,000. Finally, First Capital Advisors Group LLC. acquired a new stake in Intercontinental Exchange in the second quarter worth $35,000. 89.30% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. StockNews.com upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Wednesday, February 14th. Piper Sandler increased their target price on shares of Intercontinental Exchange from $135.00 to $149.00 and gave the stock an “overweight” rating in a report on Monday, February 12th. Barclays raised their price objective on shares of Intercontinental Exchange from $153.00 to $155.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Morgan Stanley raised their price objective on shares of Intercontinental Exchange from $139.00 to $142.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. Finally, Rosenblatt Securities raised their price objective on shares of Intercontinental Exchange from $154.00 to $164.00 and gave the stock a “buy” rating in a report on Friday, February 9th. Three analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $147.08.

Intercontinental Exchange Stock Down 0.5 %

ICE stock traded down $0.64 during midday trading on Wednesday, hitting $129.90. The company’s stock had a trading volume of 2,637,594 shares, compared to its average volume of 2,272,589. The company’s fifty day moving average price is $136.37 and its 200 day moving average price is $124.17. Intercontinental Exchange, Inc. has a twelve month low of $103.81 and a twelve month high of $140.43. The stock has a market capitalization of $74.38 billion, a P/E ratio of 30.93, a PEG 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 (NYSE:ICE) last announced its quarterly earnings data on Thursday, February 8th. The financial services provider reported $1.33 EPS 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 company 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 posted $1.25 EPS. The company’s quarterly revenue was up 24.5% on a year-over-year basis. 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 company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date was Thursday, March 14th. This is an increase from Intercontinental Exchange’s previous quarterly dividend of $0.42. Intercontinental Exchange’s dividend payout ratio (DPR) is 42.86%.

Insider Activity

In other news, CAO James W. Namkung sold 1,182 shares of Intercontinental Exchange stock in a transaction dated 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 transaction, the chief accounting officer now owns 16,396 shares of the company’s stock, valued at approximately $2,164,763.88. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CAO James W. Namkung sold 1,182 shares of Intercontinental Exchange stock in a transaction dated Thursday, February 8th. The shares were 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 approximately $2,164,763.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jeffrey C. Sprecher sold 58,388 shares of Intercontinental Exchange stock in a transaction dated Wednesday, April 3rd. The stock was 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 directly owns 1,179,895 shares of the company’s stock, valued at approximately $161,893,392.95. The disclosure for this sale can be found here. Insiders sold a total of 157,491 shares of company stock valued at $21,454,204 in the last quarter. Company insiders own 1.10% of the company’s stock.

Intercontinental Exchange 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.