Consolidated Planning Corp Acquires 676 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Consolidated Planning Corp grew its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 2.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,179 shares of the financial services provider’s stock after purchasing an additional 676 shares during the period. Consolidated Planning Corp’s holdings in Intercontinental Exchange were worth $3,603,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wolff Wiese Magana LLC grew its stake in shares of Intercontinental Exchange by 1,470.0% during the third quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock worth $25,000 after buying an additional 147 shares during the last quarter. Northwest Investment Counselors LLC bought a new position in Intercontinental Exchange in the third quarter valued at about $26,000. Financial Management Professionals Inc. boosted its stake in shares of Intercontinental Exchange by 106.1% during the third quarter. Financial Management Professionals Inc. now owns 169 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 87 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in shares of Intercontinental Exchange in the third quarter valued at approximately $29,000. Finally, FSA Wealth Management LLC bought a new position in Intercontinental Exchange in the 3rd quarter valued at approximately $31,000. 89.30% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ICE has been the subject of several analyst reports. Keefe, Bruyette & Woods raised their price target on shares of Intercontinental Exchange from $178.00 to $186.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 price target on shares of Intercontinental Exchange in a research report on Tuesday, January 7th. Morgan Stanley lifted their price objective on Intercontinental Exchange from $160.00 to $174.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. StockNews.com upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Monday. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $178.80.

Intercontinental Exchange Stock Performance

ICE opened at $166.57 on Thursday. The company has a market cap of $95.64 billion, a price-to-earnings ratio of 34.85, a PEG ratio of 3.21 and a beta of 1.11. The company’s fifty day moving average price is $153.74 and its two-hundred day moving average price is $157.30. Intercontinental Exchange, Inc. has a 1-year low of $124.34 and a 1-year high of $169.75. The company has a current ratio of 0.99, a quick ratio of 1.00 and a debt-to-equity ratio of 0.63.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, February 6th. The financial services provider reported $1.52 earnings per share for the quarter, missing the consensus estimate of $1.53 by ($0.01). Intercontinental Exchange had a net margin of 23.42% and a return on equity of 12.95%. On average, analysts expect that Intercontinental Exchange, Inc. will post 6.63 EPS for the current fiscal year.

Intercontinental Exchange Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Tuesday, December 16th will be given a dividend of $0.48 per share. The ex-dividend date is Tuesday, December 16th. This represents a $1.92 annualized dividend and a dividend yield of 1.15%. Intercontinental Exchange’s payout ratio is 37.66%.

Insider Buying and Selling

In related news, President Benjamin Jackson sold 5,828 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $160.00, for a total transaction of $932,480.00. Following the completion of the sale, the president now directly owns 156,163 shares of the company’s stock, valued at approximately $24,986,080. This trade represents a 3.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Andrew J. Surdykowski sold 955 shares of the business’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $156.08, for a total value of $149,056.40. Following the completion of the transaction, the general counsel now directly owns 44,702 shares in the company, valued at approximately $6,977,088.16. This represents a 2.09 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,358 shares of company stock worth $5,535,650. 1.10% of the stock is owned by corporate insiders.

About Intercontinental Exchange

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.