Intercontinental Exchange, Inc. (NYSE:ICE) Shares Bought by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC lifted its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 10.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 60,014 shares of the financial services provider’s stock after acquiring an additional 5,843 shares during the period. Kestra Private Wealth Services LLC’s holdings in Intercontinental Exchange were worth $7,708,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Ledyard National Bank bought a new position in shares of Intercontinental Exchange in the 4th quarter worth about $328,000. Van ECK Associates Corp boosted its position in Intercontinental Exchange by 7.4% during the 4th quarter. Van ECK Associates Corp now owns 2,957,966 shares of the financial services provider’s stock valued at $379,892,000 after purchasing an additional 203,228 shares during the period. Intrust Bank NA grew its stake in Intercontinental Exchange by 4.2% during the 4th quarter. Intrust Bank NA now owns 7,196 shares of the financial services provider’s stock worth $924,000 after buying an additional 288 shares during the last quarter. Israel Discount Bank of New York increased its position in Intercontinental Exchange by 25.8% in the fourth quarter. Israel Discount Bank of New York now owns 4,982 shares of the financial services provider’s stock worth $640,000 after buying an additional 1,022 shares during the period. Finally, Gilbert & Cook Inc. lifted its stake in Intercontinental Exchange by 5.5% in the fourth quarter. Gilbert & Cook Inc. now owns 3,636 shares of the financial services provider’s stock valued at $467,000 after buying an additional 188 shares during the last quarter. 89.30% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, major shareholder Intercontinental Exchange, Inc purchased 2,762,009 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were acquired at an average price of $0.87 per share, for a total transaction of $2,402,947.83. Following the completion of the acquisition, the insider now directly owns 7,476,345 shares of the company’s stock, valued at $6,504,420.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Intercontinental Exchange news, major shareholder Intercontinental Exchange, Inc purchased 2,762,009 shares of the stock in a transaction dated Monday, March 4th. The shares were acquired at an average price of $0.87 per share, for a total transaction of $2,402,947.83. Following the completion of the acquisition, the insider now owns 7,476,345 shares of the company’s stock, valued at approximately $6,504,420.15. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO James W. Namkung sold 1,182 shares of the stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $132.03, for a total value of $156,059.46. Following the completion of the sale, the chief accounting officer now directly owns 16,396 shares of the company’s stock, valued at $2,164,763.88. The disclosure for this sale can be found here. In the last quarter, insiders have sold 157,491 shares of company stock worth $21,454,204. Company insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

ICE has been the topic of a number of analyst reports. Raymond James increased their price objective on shares of Intercontinental Exchange from $135.00 to $145.00 and gave the stock a “strong-buy” rating in a report on Friday, January 5th. Piper Sandler boosted their price objective on Intercontinental Exchange from $135.00 to $149.00 and gave the stock an “overweight” rating in a research report on Monday, February 12th. StockNews.com upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Wednesday, February 14th. Citigroup lifted their target price on Intercontinental Exchange from $155.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. Finally, Bank of America decreased their price target on Intercontinental Exchange from $156.00 to $153.00 and set a “buy” rating for the company in a research note on Friday, April 19th. Three analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Intercontinental Exchange has an average rating of “Moderate Buy” and an average target price of $148.08.

Intercontinental Exchange Price Performance

ICE stock traded down $0.81 on Tuesday, hitting $129.97. 640,795 shares of the company’s stock traded hands, compared to its average volume of 2,354,987. The stock has a market cap of $74.42 billion, a price-to-earnings ratio of 31.14, a P/E/G ratio of 2.15 and a beta of 1.02. Intercontinental Exchange, Inc. has a 1-year low of $103.81 and a 1-year high of $140.43. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.80. The stock has a fifty day moving average of $135.74 and a 200-day moving average of $125.52.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, February 8th. The financial services provider reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.29 by $0.04. The company had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.20 billion. Intercontinental Exchange had a return on equity of 12.91% and a net margin of 23.91%. The company’s quarterly revenue was up 24.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.25 EPS. On average, analysts forecast that Intercontinental Exchange, Inc. will post 5.97 EPS for the current fiscal year.

Intercontinental Exchange Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a $0.45 dividend. The ex-dividend date was Thursday, March 14th. This represents a $1.80 dividend on an annualized basis and a yield of 1.38%. This is a boost from Intercontinental Exchange’s previous quarterly dividend of $0.42. Intercontinental Exchange’s dividend payout ratio (DPR) is currently 42.86%.

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.