Roffman Miller Associates Inc. PA Raises Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Roffman Miller Associates Inc. PA increased its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 86.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 79,319 shares of the financial services provider’s stock after acquiring an additional 36,846 shares during the period. Roffman Miller Associates Inc. PA’s holdings in Intercontinental Exchange were worth $10,187,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nordea Investment Management AB grew its position in Intercontinental Exchange by 27.3% during the 4th quarter. Nordea Investment Management AB now owns 56,870 shares of the financial services provider’s stock worth $7,311,000 after purchasing an additional 12,208 shares during the period. Oppenheimer Asset Management Inc. grew its position in Intercontinental Exchange by 7.0% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 126,854 shares of the financial services provider’s stock worth $13,956,000 after purchasing an additional 8,320 shares during the period. Allspring Global Investments Holdings LLC grew its position in Intercontinental Exchange by 9.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,235,985 shares of the financial services provider’s stock worth $158,738,000 after purchasing an additional 105,042 shares during the period. First County Bank CT grew its position in Intercontinental Exchange by 2.7% during the 3rd quarter. First County Bank CT now owns 3,811 shares of the financial services provider’s stock worth $419,000 after purchasing an additional 100 shares during the period. Finally, CIC Wealth LLC acquired a new stake in shares of Intercontinental Exchange during the 4th quarter valued at about $221,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Insider Buying and Selling at Intercontinental Exchange

In other news, SVP Douglas Foley sold 7,070 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $136.09, for a total transaction of $962,156.30. Following the completion of the sale, the senior vice president now owns 18,383 shares in the company, valued at $2,501,742.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CAO James W. Namkung sold 1,182 shares of the firm’s 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 sale, the chief accounting officer now owns 16,396 shares in the company, valued at $2,164,763.88. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Douglas Foley sold 7,070 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $136.09, for a total transaction of $962,156.30. Following the completion of the sale, the senior vice president now owns 18,383 shares of the company’s stock, valued at approximately $2,501,742.47. The disclosure for this sale can be found here. Insiders sold 157,491 shares of company stock worth $21,454,204 over the last 90 days. Corporate insiders own 1.10% of the company’s stock.

Intercontinental Exchange Trading Up 0.2 %

Shares of ICE stock traded up $0.31 during trading on Friday, hitting $132.13. 819,400 shares of the stock traded hands, compared to its average volume of 2,366,081. Intercontinental Exchange, Inc. has a 52-week low of $103.81 and a 52-week high of $140.43. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.00 and a quick ratio of 1.00. The firm’s fifty day moving average price is $135.97 and its 200-day moving average price is $125.05. The firm has a market capitalization of $75.66 billion, a P/E ratio of 31.38, a price-to-earnings-growth ratio of 2.17 and a beta of 1.02.

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

Intercontinental Exchange Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.36%. The ex-dividend date was Thursday, March 14th. This is a positive change from Intercontinental Exchange’s previous quarterly dividend of $0.42. Intercontinental Exchange’s dividend payout ratio is 42.86%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ICE. Piper Sandler raised their target price on Intercontinental Exchange from $135.00 to $149.00 and gave the company an “overweight” rating in a research report on Monday, February 12th. JPMorgan Chase & Co. raised their target price on Intercontinental Exchange from $142.00 to $151.00 and gave the company an “overweight” rating in a research report on Friday, February 9th. Citigroup raised their target price on Intercontinental Exchange from $155.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, April 4th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $152.00 target price on shares of Intercontinental Exchange in a research report on Thursday, April 4th. Finally, Rosenblatt Securities raised their price target 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. Three research 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, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $148.08.

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.