Signal Advisors Wealth LLC Trims Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Signal Advisors Wealth LLC lessened its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 7.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,060 shares of the financial services provider’s stock after selling 245 shares during the period. Signal Advisors Wealth LLC’s holdings in Intercontinental Exchange were worth $528,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Intercontinental Exchange by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 52,228,177 shares of the financial services provider’s stock valued at $7,782,521,000 after buying an additional 538,670 shares in the last quarter. Geode Capital Management LLC increased its holdings in Intercontinental Exchange by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 11,883,252 shares of the financial services provider’s stock valued at $1,765,317,000 after buying an additional 327,637 shares in the last quarter. Royal Bank of Canada increased its holdings in Intercontinental Exchange by 132.9% in the fourth quarter. Royal Bank of Canada now owns 9,121,352 shares of the financial services provider’s stock valued at $1,359,173,000 after buying an additional 5,204,309 shares in the last quarter. Norges Bank purchased a new position in Intercontinental Exchange in the fourth quarter valued at $1,196,258,000. Finally, Northern Trust Corp increased its holdings in Intercontinental Exchange by 9.7% in the fourth quarter. Northern Trust Corp now owns 7,422,007 shares of the financial services provider’s stock valued at $1,105,953,000 after buying an additional 655,247 shares in the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Performance

ICE opened at $178.70 on Friday. The firm has a market capitalization of $102.51 billion, a PE ratio of 37.38, a PEG ratio of 2.10 and a beta of 1.12. Intercontinental Exchange, Inc. has a twelve month low of $132.93 and a twelve month high of $180.89. The firm’s 50-day moving average price is $168.60 and its 200 day moving average price is $163.40. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.63.

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

Intercontinental Exchange Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 1.07%. Intercontinental Exchange’s payout ratio is presently 39.75%.

Insider Buying and Selling

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 3,848 shares of Intercontinental Exchange stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $179.12, for a total transaction of $689,253.76. Following the transaction, the general counsel now directly owns 48,480 shares of the company’s stock, valued at $8,683,737.60. The trade was a 7.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Christopher Scott Edmonds sold 552 shares of Intercontinental Exchange stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $174.52, for a total transaction of $96,335.04. Following the transaction, the insider now directly owns 15,658 shares in the company, valued at $2,732,634.16. This trade represents a 3.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 226,354 shares of company stock worth $40,512,695. 1.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on ICE shares. Keefe, Bruyette & Woods lifted their price objective on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the company an “outperform” rating in a report on Friday, May 2nd. Morgan Stanley lifted their price objective on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the company an “equal weight” rating in a report on Monday, May 5th. UBS Group lifted their price objective on shares of Intercontinental Exchange from $185.00 to $195.00 and gave the company a “buy” rating in a report on Friday, February 7th. Bank of America cut their price objective on shares of Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. Finally, Wall Street Zen upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $188.46.

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.