Dakota Wealth Management Acquires 13,433 Shares of Intercontinental Exchange Inc. (NYSE:ICE)

Dakota Wealth Management grew its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 267.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,452 shares of the financial services provider’s stock after purchasing an additional 13,433 shares during the period. Dakota Wealth Management’s holdings in Intercontinental Exchange were worth $3,183,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. GPS Wealth Strategies Group LLC grew its holdings in Intercontinental Exchange by 17.2% during the 1st quarter. GPS Wealth Strategies Group LLC now owns 430 shares of the financial services provider’s stock worth $74,000 after acquiring an additional 63 shares during the period. Values Added Financial LLC lifted its stake in shares of Intercontinental Exchange by 4.4% in the 1st quarter. Values Added Financial LLC now owns 1,533 shares of the financial services provider’s stock valued at $264,000 after purchasing an additional 64 shares during the period. MV Capital Management Inc. boosted its position in shares of Intercontinental Exchange by 15.7% during the 1st quarter. MV Capital Management Inc. now owns 501 shares of the financial services provider’s stock valued at $86,000 after purchasing an additional 68 shares in the last quarter. Quadcap Wealth Management LLC grew its stake in Intercontinental Exchange by 1.2% during the fourth quarter. Quadcap Wealth Management LLC now owns 6,162 shares of the financial services provider’s stock worth $918,000 after purchasing an additional 71 shares during the period. Finally, Colonial Trust Co SC increased its holdings in Intercontinental Exchange by 11.7% in the fourth quarter. Colonial Trust Co SC now owns 687 shares of the financial services provider’s stock worth $102,000 after purchasing an additional 72 shares in the last quarter. Institutional investors own 89.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ICE. Bank of America cut their price target on Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating on the stock in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods raised their price target on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the stock an “outperform” rating in a report on Friday, May 2nd. UBS Group lifted their price target on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the company a “buy” rating in a research note on Tuesday, July 8th. Barclays increased their price objective on shares of Intercontinental Exchange from $198.00 to $206.00 and gave the stock an “overweight” rating in a research report on Thursday, July 10th. Finally, Morgan Stanley boosted their target price on Intercontinental Exchange from $181.00 to $192.00 and gave the company an “equal weight” rating in a research report on Monday, May 5th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, Intercontinental Exchange presently has a consensus rating of “Moderate Buy” and a consensus target price of $192.58.

Intercontinental Exchange Price Performance

Shares of NYSE:ICE opened at $181.79 on Tuesday. The company has a market capitalization of $104.28 billion, a P/E ratio of 37.64, a price-to-earnings-growth ratio of 1.97 and a beta of 1.11. The company’s 50-day moving average is $178.63 and its 200 day moving average is $168.06. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.00 and a current ratio of 1.00. Intercontinental Exchange Inc. has a fifty-two week low of $142.29 and a fifty-two week high of $183.99.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, May 1st. The financial services provider reported $1.72 EPS for the quarter, topping the consensus estimate of $1.70 by $0.02. Intercontinental Exchange had a net margin of 22.84% and a return on equity of 13.27%. The business had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.44 billion. During the same quarter in the previous year, the firm posted $1.48 earnings per share. The company’s revenue for the quarter was up 8.0% on a year-over-year basis. On average, equities research analysts forecast that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were paid a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.06%. Intercontinental Exchange’s payout ratio is 39.75%.

Insiders Place Their Bets

In related news, SVP Douglas Foley sold 1,600 shares of Intercontinental Exchange stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $177.48, for a total value of $283,968.00. Following the completion of the sale, the senior vice president owned 27,313 shares of the company’s stock, valued at approximately $4,847,511.24. This trade represents a 5.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the business’s stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $179.22, for a total value of $26,883,000.00. Following the completion of the sale, the chief executive officer owned 2,101,705 shares in the company, valued at $376,667,570.10. This represents a 6.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 228,749 shares of company stock valued at $40,942,387 in the last quarter. 1.00% of the stock is currently owned by company insiders.

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.