Modern Wealth Management LLC Grows Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Modern Wealth Management LLC boosted its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 31.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,839 shares of the financial services provider’s stock after buying an additional 441 shares during the period. Modern Wealth Management LLC’s holdings in Intercontinental Exchange were worth $274,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of ICE. Sierra Ocean LLC purchased a new stake in shares of Intercontinental Exchange in the fourth quarter valued at about $25,000. FSA Wealth Management LLC purchased a new stake in Intercontinental Exchange in the 3rd quarter valued at approximately $31,000. Lee Danner & Bass Inc. purchased a new stake in Intercontinental Exchange in the 4th quarter valued at approximately $34,000. BankPlus Trust Department acquired a new position in Intercontinental Exchange during the 4th quarter worth approximately $40,000. Finally, Mountain Hill Investment Partners Corp. purchased a new position in shares of Intercontinental Exchange during the 4th quarter worth approximately $45,000. 89.30% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CTO Mayur Kapani sold 5,661 shares of the stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $147.59, for a total transaction of $835,506.99. Following the transaction, the chief technology officer now directly owns 66,548 shares in the company, valued at approximately $9,821,819.32. This represents a 7.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, President Benjamin Jackson sold 17,104 shares of Intercontinental Exchange stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $166.62, for a total value of $2,849,868.48. Following the completion of the sale, the president now owns 155,174 shares of the company’s stock, valued at $25,855,091.88. This trade represents a 9.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,563 shares of company stock valued at $10,998,990 in the last quarter. 1.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ICE. Keefe, Bruyette & Woods lifted their price target on Intercontinental Exchange from $178.00 to $186.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. StockNews.com raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Monday, February 10th. JPMorgan Chase & Co. reduced their price objective on shares of Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. UBS Group upped their target price on shares of Intercontinental Exchange from $185.00 to $195.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price target on shares of Intercontinental Exchange in a research report on Tuesday, January 7th. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $178.80.

Intercontinental Exchange Stock Down 1.0 %

ICE opened at $174.65 on Friday. The firm has a market cap of $100.35 billion, a P/E ratio of 36.54, a PEG ratio of 2.10 and a beta of 1.08. The business’s fifty day simple moving average is $167.12 and its 200 day simple moving average is $160.57. Intercontinental Exchange, Inc. has a 52 week low of $124.34 and a 52 week high of $177.45. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.63.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, February 6th. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.53 by ($0.01). Intercontinental Exchange had a return on equity of 12.95% and a net margin of 23.42%. As a group, equities research analysts anticipate that Intercontinental Exchange, Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th will be issued a $0.48 dividend. The ex-dividend date is Tuesday, December 16th. This represents a $1.92 annualized dividend and a yield of 1.10%. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 40.17%.

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.