Independent Advisor Alliance Grows Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

Independent Advisor Alliance raised its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 29.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,230 shares of the financial services provider’s stock after buying an additional 2,074 shares during the quarter. Independent Advisor Alliance’s holdings in Intercontinental Exchange were worth $1,375,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Sierra Ocean LLC bought a new stake in Intercontinental Exchange in the fourth quarter valued at $25,000. FSA Wealth Management LLC purchased a new stake in shares of Intercontinental Exchange in the 3rd quarter worth about $31,000. BankPlus Trust Department bought a new stake in shares of Intercontinental Exchange during the 4th quarter valued at about $40,000. Planning Capital Management Corp increased its position in shares of Intercontinental Exchange by 96.7% during the third quarter. Planning Capital Management Corp now owns 299 shares of the financial services provider’s stock valued at $48,000 after buying an additional 147 shares during the period. Finally, Golden State Wealth Management LLC bought a new position in Intercontinental Exchange in the fourth quarter worth about $51,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 price objective 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 report on Monday, February 10th. Keefe, Bruyette & Woods increased their price objective on Intercontinental Exchange from $178.00 to $186.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. JPMorgan Chase & Co. dropped their target price on shares of Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Finally, Barclays upped their target price on shares of Intercontinental Exchange from $179.00 to $189.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, Intercontinental Exchange currently has an average rating of “Moderate Buy” and a consensus target price of $178.80.

Intercontinental Exchange Trading Up 1.3 %

Shares of NYSE ICE opened at $171.28 on Friday. The firm’s 50 day moving average price is $161.47 and its 200-day moving average price is $159.64. 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 company has a market cap of $98.41 billion, a PE ratio of 35.83, a P/E/G ratio of 2.10 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, February 6th. The financial services provider reported $1.52 earnings per share (EPS) 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, equities research analysts expect that Intercontinental Exchange, Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors 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 annualized dividend and a yield of 1.12%. Intercontinental Exchange’s payout ratio is 40.17%.

Insider Activity

In related news, President Benjamin Jackson sold 5,828 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $165.71, for a total value of $965,757.88. Following the sale, the president now owns 164,041 shares in the company, valued at approximately $27,183,234.11. This trade represents a 3.43 % 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, COO Stuart Glen Williams sold 750 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $152.99, for a total transaction 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 approximately $1,955,212.20. This trade represents a 5.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 67,313 shares of company stock valued at $11,113,733 in the last 90 days. 1.10% of the stock is currently owned by insiders.

Intercontinental Exchange 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.