Wealth Alliance Purchases 1,265 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Wealth Alliance grew its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 54.6% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 3,583 shares of the financial services provider’s stock after buying an additional 1,265 shares during the period. Wealth Alliance’s holdings in Intercontinental Exchange were worth $460,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of ICE. Wellington Management Group LLP boosted its holdings in shares of Intercontinental Exchange by 219.8% during the 3rd quarter. Wellington Management Group LLP now owns 12,146,620 shares of the financial services provider’s stock valued at $1,336,371,000 after buying an additional 8,348,126 shares in the last quarter. Norges Bank purchased a new position in shares of Intercontinental Exchange in the 4th quarter worth about $579,605,000. T. Rowe Price Investment Management Inc. raised its position in shares of Intercontinental Exchange by 45.5% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 17,114,267 shares of the financial services provider’s stock worth $1,755,753,000 after purchasing an additional 5,354,161 shares during the last quarter. Morgan Stanley raised its position in shares of Intercontinental Exchange by 18.9% in the 4th quarter. Morgan Stanley now owns 25,406,629 shares of the financial services provider’s stock worth $2,606,466,000 after purchasing an additional 4,044,744 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in shares of Intercontinental Exchange by 59.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,275,418 shares of the financial services provider’s stock worth $564,869,000 after purchasing an additional 1,589,999 shares during the last quarter. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Price Performance

NYSE ICE opened at $130.74 on Thursday. Intercontinental Exchange, Inc. has a 52 week low of $103.81 and a 52 week high of $140.43. The firm has a market capitalization of $74.86 billion, a P/E ratio of 31.13, a PEG ratio of 2.06 and a beta of 1.02. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.80. The company has a 50-day moving average price of $136.42 and a 200-day moving average price of $124.22.

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

Intercontinental Exchange Increases Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. UBS Group lifted their price target on Intercontinental Exchange from $145.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, February 12th. JPMorgan Chase & Co. lifted their price target on Intercontinental Exchange from $142.00 to $151.00 and gave the stock an “overweight” rating in a research report on Friday, February 9th. Piper Sandler lifted their price target on Intercontinental Exchange from $135.00 to $149.00 and gave the stock an “overweight” rating in a research report on Monday, February 12th. Morgan Stanley lifted their price target on 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, StockNews.com raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Wednesday, February 14th. 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. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $147.08.

Insider Activity at Intercontinental Exchange

In related news, CAO James W. Namkung sold 1,182 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $132.03, for a total transaction of $156,059.46. Following the completion of the transaction, the chief accounting officer now directly owns 16,396 shares in the company, valued at approximately $2,164,763.88. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Intercontinental Exchange news, CFO Warren Gardiner sold 2,176 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $136.00, for a total value of $295,936.00. Following the completion of the transaction, the chief financial officer now directly owns 12,061 shares in the company, valued at approximately $1,640,296. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO James W. Namkung sold 1,182 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was 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 $2,164,763.88. The disclosure for this sale can be found here. In the last ninety days, insiders sold 157,491 shares of company stock worth $21,454,204. 1.10% of the stock is owned by company insiders.

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.