Marietta Wealth Management LLC Sells 116 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Marietta Wealth Management LLC lessened its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 1.5% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 7,514 shares of the financial services provider’s stock after selling 116 shares during the quarter. Marietta Wealth Management LLC’s holdings in Intercontinental Exchange were worth $965,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the company. Nordea Investment Management AB lifted its stake in Intercontinental Exchange by 27.3% in the fourth quarter. Nordea Investment Management AB now owns 56,870 shares of the financial services provider’s stock valued at $7,311,000 after purchasing an additional 12,208 shares during the last quarter. Oppenheimer Asset Management Inc. raised its position in shares of 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 valued at $13,956,000 after buying an additional 8,320 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of 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 valued at $158,738,000 after buying an additional 105,042 shares in the last quarter. First County Bank CT raised its stake in shares of Intercontinental Exchange by 2.7% during the third quarter. First County Bank CT now owns 3,811 shares of the financial services provider’s stock worth $419,000 after acquiring an additional 100 shares in the last quarter. Finally, CIC Wealth LLC bought a new stake in Intercontinental Exchange in the fourth quarter worth $221,000. Institutional investors own 89.30% of the company’s stock.

Analysts Set New Price Targets

ICE has been the subject of several recent analyst reports. UBS Group boosted their price target on Intercontinental Exchange from $145.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, February 12th. Rosenblatt Securities increased their price target on shares of Intercontinental Exchange from $154.00 to $164.00 and gave the company a “buy” rating in a report on Friday, February 9th. Morgan Stanley boosted their price objective on Intercontinental Exchange from $139.00 to $142.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. JPMorgan Chase & Co. upped their price target on shares of Intercontinental Exchange from $142.00 to $151.00 and gave the stock an “overweight” rating in a research report on Friday, February 9th. Finally, Citigroup raised their target price on shares of Intercontinental Exchange from $155.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. Three analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Intercontinental Exchange presently has a consensus rating of “Moderate Buy” and an average target price of $147.08.

Intercontinental Exchange Stock Up 0.4 %

ICE stock traded up $0.48 during trading hours on Tuesday, hitting $131.02. The company’s stock had a trading volume of 943,863 shares, compared to its average volume of 2,381,606. The company has a market capitalization of $75.02 billion, a PE ratio of 31.15, a price-to-earnings-growth ratio of 2.11 and a beta of 1.02. The stock has a 50 day moving average price of $136.30 and a two-hundred day moving average price of $124.03. Intercontinental Exchange, Inc. has a 12 month low of $103.81 and a 12 month high of $140.43. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.80.

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

Intercontinental Exchange Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date was Thursday, March 14th. This is an increase from Intercontinental Exchange’s previous quarterly dividend of $0.42. Intercontinental Exchange’s dividend payout ratio (DPR) is 42.86%.

Insider Buying and Selling at Intercontinental Exchange

In other news, President Benjamin Jackson sold 27,970 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $134.74, for a total transaction of $3,768,677.80. Following the sale, the president now directly owns 138,487 shares of the company’s stock, valued at approximately $18,659,738.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CAO James W. Namkung sold 1,182 shares of the stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $132.03, for a total transaction of $156,059.46. Following the transaction, the chief accounting officer now directly owns 16,396 shares of the company’s stock, valued at $2,164,763.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, President Benjamin Jackson sold 27,970 shares of Intercontinental Exchange stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $134.74, for a total value of $3,768,677.80. Following the transaction, the president now directly owns 138,487 shares in the company, valued at approximately $18,659,738.38. The disclosure for this sale can be found here. Insiders sold 157,491 shares of company stock valued at $21,454,204 in the last quarter. 1.10% of the stock is currently owned by 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.