WealthShield Partners LLC Buys 1,529 Shares of Intercontinental Exchange Inc. (NYSE:ICE)

WealthShield Partners LLC boosted its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 6.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 25,739 shares of the financial services provider’s stock after acquiring an additional 1,529 shares during the quarter. WealthShield Partners LLC’s holdings in Intercontinental Exchange were worth $4,440,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. REAP Financial Group LLC grew its holdings in Intercontinental Exchange by 116.7% during the 4th quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 91 shares during the last quarter. Tsfg LLC boosted its stake in shares of Intercontinental Exchange by 187.3% in the 1st quarter. Tsfg LLC now owns 158 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 103 shares during the last quarter. Menard Financial Group LLC bought a new position in shares of Intercontinental Exchange in the 4th quarter valued at about $29,000. Rakuten Securities Inc. boosted its stake in shares of Intercontinental Exchange by 595.8% in the 1st quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 143 shares during the last quarter. Finally, McClarren Financial Advisors Inc. bought a new position in shares of Intercontinental Exchange in the 1st quarter valued at about $30,000. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Performance

Shares of ICE opened at $187.51 on Wednesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.01. Intercontinental Exchange Inc. has a twelve month low of $142.29 and a twelve month high of $189.23. The firm’s 50 day moving average price is $181.13 and its two-hundred day moving average price is $171.90. The firm has a market cap of $107.33 billion, a P/E ratio of 35.99, a PEG ratio of 2.23 and a beta of 1.11.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, July 31st. The financial services provider reported $1.81 earnings per share for the quarter, beating analysts’ consensus estimates of $1.77 by $0.04. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The firm had revenue of $3.26 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same quarter in the previous year, the firm posted $1.52 earnings per share. The business’s revenue was up 9.8% on a year-over-year basis. On average, analysts forecast that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 1.0%. Intercontinental Exchange’s payout ratio is currently 36.85%.

Analyst Ratings Changes

Several brokerages have recently issued reports on ICE. Barclays raised their target price on shares of Intercontinental Exchange from $206.00 to $212.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. Keefe, Bruyette & Woods raised their target price on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the company an “outperform” rating in a research note on Friday, May 2nd. Morgan Stanley raised their target price on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the company an “equal weight” rating in a research note on Monday, May 5th. Piper Sandler raised their target price on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the company an “overweight” rating in a research note on Tuesday, July 15th. Finally, UBS Group lifted their price objective on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the stock a “buy” rating in a research note on Tuesday, July 8th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $194.92.

Insider Transactions at Intercontinental Exchange

In other news, General Counsel Andrew J. Surdykowski sold 3,848 shares of the business’s stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $179.12, for a total value of $689,253.76. Following the sale, the general counsel owned 48,480 shares of the company’s stock, valued at $8,683,737.60. The trade was a 7.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the business’s stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $179.22, for a total transaction of $26,883,000.00. Following the completion of the sale, the chief executive officer directly owned 2,101,705 shares in the company, valued at approximately $376,667,570.10. This represents a 6.66% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 226,913 shares of company stock valued at $40,671,107. 1.00% 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.