Rialto Wealth Management LLC Buys Shares of 6,214 Intercontinental Exchange, Inc. (NYSE:ICE)

Rialto Wealth Management LLC bought a new stake in Intercontinental Exchange, Inc. (NYSE:ICE) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 6,214 shares of the financial services provider’s stock, valued at approximately $926,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in ICE. M&G PLC acquired a new stake in Intercontinental Exchange in the third quarter valued at about $10,720,000. Graypoint LLC lifted its holdings in shares of Intercontinental Exchange by 4.5% in the third quarter. Graypoint LLC now owns 6,889 shares of the financial services provider’s stock worth $1,107,000 after acquiring an additional 298 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Intercontinental Exchange by 3.7% in the 3rd quarter. Principal Financial Group Inc. now owns 656,874 shares of the financial services provider’s stock valued at $105,520,000 after purchasing an additional 23,638 shares in the last quarter. Consolidated Planning Corp grew its holdings in shares of Intercontinental Exchange by 14.4% during the 3rd quarter. Consolidated Planning Corp now owns 23,503 shares of the financial services provider’s stock valued at $3,776,000 after purchasing an additional 2,962 shares during the last quarter. Finally, Verity Asset Management Inc. acquired a new position in Intercontinental Exchange during the 3rd quarter worth approximately $207,000. Institutional investors own 89.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $200.00 target price on shares of Intercontinental Exchange in a research report on Tuesday, January 7th. StockNews.com upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Monday, February 10th. Deutsche Bank Aktiengesellschaft boosted their price objective on Intercontinental Exchange from $160.00 to $163.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. UBS Group increased their target price on Intercontinental Exchange from $185.00 to $195.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Finally, Keefe, Bruyette & Woods boosted their price target on Intercontinental Exchange from $178.00 to $186.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, Intercontinental Exchange has an average rating of “Moderate Buy” and a consensus target price of $178.80.

Insider Buying and Selling at Intercontinental Exchange

In related news, COO Stuart Glen Williams sold 750 shares of the business’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $152.99, for a total value of $114,742.50. Following the completion of the sale, the chief operating officer now directly owns 12,780 shares of the company’s stock, valued at $1,955,212.20. The trade was a 5.54 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Andrew J. Surdykowski sold 955 shares of the company’s stock in a transaction that occurred 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 transaction, the general counsel now directly owns 44,702 shares in the company, valued at approximately $6,977,088.16. This trade represents a 2.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 68,268 shares of company stock valued at $11,262,789. 1.10% of the stock is currently owned by company insiders.

Intercontinental Exchange Trading Up 0.4 %

NYSE:ICE opened at $170.40 on Friday. Intercontinental Exchange, Inc. has a 52 week low of $124.34 and a 52 week high of $175.41. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.99 and a current ratio of 0.99. The firm’s fifty day moving average is $159.46 and its 200-day moving average is $159.28. The firm has a market cap of $97.91 billion, a P/E ratio of 35.65, a P/E/G ratio of 2.10 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, February 6th. The financial services provider reported $1.52 earnings per share for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.01). Intercontinental Exchange had a return on equity of 12.95% and a net margin of 23.42%. Equities analysts expect that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th will be issued a $0.48 dividend. The ex-dividend date is Tuesday, December 16th. This represents a $1.92 dividend on an annualized basis and a yield of 1.13%. Intercontinental Exchange’s payout ratio is currently 40.17%.

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.