Intercontinental Exchange Inc. $ICE Shares Purchased by Linscomb Wealth Inc.

Linscomb Wealth Inc. raised its stake in Intercontinental Exchange Inc. (NYSE:ICEFree Report) by 568.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,351 shares of the financial services provider’s stock after acquiring an additional 11,355 shares during the quarter. Linscomb Wealth Inc.’s holdings in Intercontinental Exchange were worth $2,249,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Princeton Global Asset Management LLC acquired a new stake in Intercontinental Exchange during the second quarter valued at $28,000. Westside Investment Management Inc. acquired a new position in shares of Intercontinental Exchange in the second quarter worth about $29,000. Knuff & Co LLC boosted its stake in shares of Intercontinental Exchange by 73.3% during the 2nd quarter. Knuff & Co LLC now owns 175 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 74 shares in the last quarter. Private Wealth Management Group LLC grew its position in shares of Intercontinental Exchange by 59.5% during the 3rd quarter. Private Wealth Management Group LLC now owns 177 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 66 shares during the period. Finally, Gables Capital Management Inc. increased its stake in shares of Intercontinental Exchange by 100.0% in the 2nd quarter. Gables Capital Management Inc. now owns 250 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 125 shares in the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Trading Up 1.9%

Shares of ICE opened at $167.96 on Friday. Intercontinental Exchange Inc. has a 52-week low of $143.17 and a 52-week high of $189.35. The stock has a market cap of $95.77 billion, a PE ratio of 30.59, a price-to-earnings-growth ratio of 2.00 and a beta of 1.02. The firm’s fifty day moving average is $164.96 and its two-hundred day moving average is $166.59. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.61.

Intercontinental Exchange (NYSE:ICEGet Free Report) last issued its earnings results on Thursday, February 5th. The financial services provider reported $1.71 EPS for the quarter, beating analysts’ consensus estimates of $1.67 by $0.04. The business had revenue of $3.14 billion during the quarter, compared to analysts’ expectations of $2.51 billion. Intercontinental Exchange had a net margin of 25.24% and a return on equity of 13.79%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.52 earnings per share. Research analysts forecast that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Wednesday, December 16th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Wednesday, December 16th. Intercontinental Exchange’s payout ratio is currently 34.97%.

Key Intercontinental Exchange News

Here are the key news stories impacting Intercontinental Exchange this week:

Insiders Place Their Bets

In related news, CTO Mayur Kapani sold 5,345 shares of the stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $156.67, for a total value of $837,401.15. Following the completion of the sale, the chief technology officer owned 65,240 shares of the company’s stock, valued at approximately $10,221,150.80. This trade represents a 7.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Judith A. Sprieser sold 3,700 shares of Intercontinental Exchange stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $157.96, for a total value of $584,452.00. Following the transaction, the director owned 14,469 shares in the company, valued at approximately $2,285,523.24. The trade was a 20.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 166,068 shares of company stock valued at $25,470,702. Insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ICE. Weiss Ratings reiterated a “buy (b-)” rating on shares of Intercontinental Exchange in a research report on Monday, December 29th. Barclays set a $182.00 target price on Intercontinental Exchange and gave the company an “overweight” rating in a research report on Thursday, January 8th. Wall Street Zen lowered shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Saturday, January 24th. TD Cowen reaffirmed a “buy” rating on shares of Intercontinental Exchange in a report on Wednesday, January 14th. Finally, Morgan Stanley set a $180.00 target price on shares of Intercontinental Exchange and gave the stock an “equal weight” rating in a research note on Thursday, January 15th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $193.50.

View Our Latest Report on Intercontinental Exchange

Intercontinental Exchange Company Profile

(Free Report)

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.

Further Reading

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Institutional Ownership by Quarter for Intercontinental Exchange (NYSE:ICE)

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