GC Wealth Management RIA LLC Sells 6,751 Shares of Intercontinental Exchange Inc. $ICE

GC Wealth Management RIA LLC lowered its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 14.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,913 shares of the financial services provider’s stock after selling 6,751 shares during the quarter. GC Wealth Management RIA LLC’s holdings in Intercontinental Exchange were worth $6,626,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Intercontinental Exchange by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 54,153,170 shares of the financial services provider’s stock worth $8,770,647,000 after buying an additional 413,639 shares in the last quarter. State Street Corp lifted its stake in Intercontinental Exchange by 0.8% during the 3rd quarter. State Street Corp now owns 24,816,744 shares of the financial services provider’s stock valued at $4,181,125,000 after acquiring an additional 194,325 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Intercontinental Exchange by 64.7% during the 3rd quarter. Wellington Management Group LLP now owns 10,354,224 shares of the financial services provider’s stock valued at $1,744,480,000 after acquiring an additional 4,067,922 shares during the last quarter. Capital World Investors boosted its holdings in shares of Intercontinental Exchange by 15.2% during the 3rd quarter. Capital World Investors now owns 7,028,964 shares of the financial services provider’s stock valued at $1,184,238,000 after acquiring an additional 928,047 shares during the last quarter. Finally, Sands Capital Management LLC grew its stake in shares of Intercontinental Exchange by 6.9% in the third quarter. Sands Capital Management LLC now owns 5,677,266 shares of the financial services provider’s stock worth $956,506,000 after acquiring an additional 364,227 shares during the period. 89.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on ICE. Morgan Stanley boosted their price objective on shares of Intercontinental Exchange from $183.00 to $187.00 and gave the company an “equal weight” rating in a report on Friday, April 10th. Piper Sandler restated an “overweight” rating and issued a $211.00 target price (up from $195.00) on shares of Intercontinental Exchange in a report on Wednesday, April 15th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $180.00 target price on shares of Intercontinental Exchange in a research report on Tuesday, January 6th. Weiss Ratings cut Intercontinental Exchange from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday. Finally, Barclays raised their price target on Intercontinental Exchange from $193.00 to $198.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 8th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, Intercontinental Exchange presently has an average rating of “Buy” and a consensus target price of $193.80.

Intercontinental Exchange Price Performance

Shares of NYSE:ICE opened at $156.24 on Wednesday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $88.50 billion, a PE ratio of 27.08, a price-to-earnings-growth ratio of 1.63 and a beta of 1.03. The firm’s 50 day moving average price is $160.11 and its 200-day moving average price is $160.03. Intercontinental Exchange Inc. has a twelve month low of $143.17 and a twelve month high of $189.35.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, February 5th. The financial services provider reported $1.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.67 by $0.04. Intercontinental Exchange had a net margin of 26.23% and a return on equity of 13.99%. The company had revenue of $3.14 billion during the quarter, compared to analyst estimates of $2.51 billion. During the same period in the previous year, the business posted $1.52 earnings per share. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. Equities research analysts expect that Intercontinental Exchange Inc. will post 8.06 EPS for the current year.

Intercontinental Exchange Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Wednesday, December 16th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Wednesday, December 16th. Intercontinental Exchange’s dividend payout ratio is 36.05%.

Insider Transactions at Intercontinental Exchange

In related news, insider Lynn C. Martin sold 13,456 shares of the firm’s stock in a transaction on Friday, February 20th. The stock was sold at an average price of $153.86, for a total value of $2,070,340.16. Following the transaction, the insider directly owned 54,319 shares of the company’s stock, valued at approximately $8,357,521.34. This trade represents a 19.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Andrew J. Surdykowski sold 4,571 shares of Intercontinental Exchange stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $162.00, for a total value of $740,502.00. Following the transaction, the general counsel owned 48,181 shares in the company, valued at $7,805,322. This trade represents a 8.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 348,418 shares of company stock worth $54,196,631 over the last three months. 0.84% of the stock is currently owned by insiders.

Intercontinental Exchange Profile

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.