Werba Rubin Papier Wealth Management Invests $217,000 in Intercontinental Exchange Inc. (NYSE:ICE)

Werba Rubin Papier Wealth Management bought a new position in Intercontinental Exchange Inc. (NYSE:ICE) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,257 shares of the financial services provider’s stock, valued at approximately $217,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Geode Capital Management LLC boosted its position in shares of Intercontinental Exchange by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 11,883,252 shares of the financial services provider’s stock worth $1,765,317,000 after buying an additional 327,637 shares during the period. Royal Bank of Canada boosted its position in Intercontinental Exchange by 132.9% during the fourth quarter. Royal Bank of Canada now owns 9,121,352 shares of the financial services provider’s stock valued at $1,359,173,000 after purchasing an additional 5,204,309 shares during the last quarter. Northern Trust Corp boosted its position in Intercontinental Exchange by 9.7% during the fourth quarter. Northern Trust Corp now owns 7,422,007 shares of the financial services provider’s stock valued at $1,105,953,000 after purchasing an additional 655,247 shares during the last quarter. Independent Franchise Partners LLP boosted its position in Intercontinental Exchange by 20.8% during the fourth quarter. Independent Franchise Partners LLP now owns 6,160,836 shares of the financial services provider’s stock valued at $918,026,000 after purchasing an additional 1,062,904 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Intercontinental Exchange by 50.6% during the first quarter. Bank of New York Mellon Corp now owns 5,933,532 shares of the financial services provider’s stock valued at $1,023,534,000 after purchasing an additional 1,993,084 shares during the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Wall Street Analysts Forecast Growth

ICE has been the subject of a number of research reports. Morgan Stanley lifted their price objective 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. Keefe, Bruyette & Woods lifted their price objective on Intercontinental Exchange from $183.00 to $189.00 and gave the company an “outperform” rating in a research report on Friday, May 2nd. Piper Sandler lifted their price objective on Intercontinental Exchange from $180.00 to $202.00 and gave the company an “overweight” rating in a research report on Tuesday, July 15th. UBS Group lifted their price objective on Intercontinental Exchange from $195.00 to $210.00 and gave the company a “buy” rating in a research report on Tuesday, July 8th. Finally, Bank of America reduced their price objective on Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating for the company in a research report on Wednesday, April 2nd. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $194.42.

Intercontinental Exchange Price Performance

Shares of NYSE:ICE opened at $182.63 on Tuesday. Intercontinental Exchange Inc. has a fifty-two week low of $142.29 and a fifty-two week high of $185.29. The business has a 50-day moving average of $179.92 and a two-hundred day moving average of $170.45. The stock has a market capitalization of $104.76 billion, a P/E ratio of 37.81, a P/E/G ratio of 2.02 and a beta of 1.11. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.00 and a quick ratio of 1.00.

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

Intercontinental Exchange Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 1.05%. Intercontinental Exchange’s dividend payout ratio (DPR) is currently 39.75%.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, CEO Jeffrey C. Sprecher sold 150,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $179.22, for a total value of $26,883,000.00. Following the sale, the chief executive officer owned 2,101,705 shares of the company’s stock, valued at $376,667,570.10. This trade represents a 6.66% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel Andrew J. Surdykowski sold 3,848 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the general counsel directly owned 48,480 shares in the company, valued at $8,683,737.60. This trade represents a 7.35% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 226,119 shares of company stock worth $40,524,217. Insiders own 1.00% of the company’s stock.

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.