RWA Wealth Partners LLC Acquires 11,809 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

RWA Wealth Partners LLC raised its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 106.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 22,928 shares of the financial services provider’s stock after purchasing an additional 11,809 shares during the period. RWA Wealth Partners LLC’s holdings in Intercontinental Exchange were worth $2,945,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Fortitude Family Office LLC bought a new stake in Intercontinental Exchange in the 4th quarter valued at about $28,000. Jones Financial Companies Lllp bought a new stake in shares of Intercontinental Exchange during the 3rd quarter worth approximately $26,000. OFI Invest Asset Management bought a new stake in shares of Intercontinental Exchange during the 3rd quarter worth approximately $25,000. BKM Wealth Management LLC bought a new stake in shares of Intercontinental Exchange during the 4th quarter worth approximately $31,000. Finally, Rakuten Securities Inc. bought a new stake in shares of Intercontinental Exchange during the 4th quarter worth approximately $39,000. Institutional investors own 89.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ICE. 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 report on Friday, February 9th. Raymond James upped their price target on shares of Intercontinental Exchange from $135.00 to $145.00 and gave the stock a “strong-buy” rating in a report on Friday, January 5th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $152.00 price target on shares of Intercontinental Exchange in a report on Thursday, April 4th. Rosenblatt Securities upped their price objective on shares of Intercontinental Exchange from $154.00 to $164.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. Finally, Piper Sandler upped their price objective on shares of Intercontinental Exchange from $135.00 to $149.00 and gave the stock an “overweight” rating in a research report on Monday, February 12th. Three investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $148.08.

Insider Transactions at Intercontinental Exchange

In related news, major shareholder Intercontinental Exchange, Inc bought 2,762,009 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were acquired at an average cost of $0.87 per share, with a total value of $2,402,947.83. Following the completion of the purchase, the insider now directly owns 7,476,345 shares in the company, valued at $6,504,420.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, major shareholder Intercontinental Exchange, Inc bought 2,762,009 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were acquired at an average cost of $0.87 per share, with a total value of $2,402,947.83. Following the completion of the purchase, the insider now directly owns 7,476,345 shares in the company, valued at $6,504,420.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Warren Gardiner sold 500 shares of the stock in a transaction on Friday, March 8th. The stock was sold at an average price of $138.83, for a total transaction of $69,415.00. Following the transaction, the chief financial officer now directly owns 18,326 shares in the company, valued at $2,544,198.58. The disclosure for this sale can be found here. Insiders sold a total of 157,491 shares of company stock worth $21,454,204 over the last three months. 1.10% of the stock is owned by company insiders.

Intercontinental Exchange Trading Up 0.5 %

Shares of NYSE ICE opened at $132.35 on Wednesday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.00 and a current ratio of 1.00. Intercontinental Exchange, Inc. has a 52-week low of $103.81 and a 52-week high of $140.43. The firm has a 50 day moving average price of $136.16 and a two-hundred day moving average price of $124.95. The stock has a market cap of $75.78 billion, a P/E ratio of 31.51, a price-to-earnings-growth ratio of 2.15 and a beta of 1.02.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, February 8th. The financial services provider reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.04. Intercontinental Exchange had a net margin of 23.91% and a return on equity of 12.91%. The company had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.20 billion. During the same period in the prior year, the company posted $1.25 earnings per share. Intercontinental Exchange’s revenue for the quarter was up 24.5% compared to the same quarter last year. As a group, equities analysts forecast that Intercontinental Exchange, Inc. will post 5.97 EPS 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 dividend of $0.45 per share. The ex-dividend date was Thursday, March 14th. This is a boost from Intercontinental Exchange’s previous quarterly dividend of $0.42. This represents a $1.80 annualized dividend and a dividend yield of 1.36%. Intercontinental Exchange’s dividend payout ratio is 42.86%.

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.