Power Wealth Management LLC Acquires Shares of 1,909 Intercontinental Exchange, Inc. (NYSE:ICE)

Power Wealth Management LLC bought a new stake in Intercontinental Exchange, Inc. (NYSE:ICE) during the fourth quarter, HoldingsChannel reports. The firm bought 1,909 shares of the financial services provider’s stock, valued at approximately $245,000.

A number of other institutional investors have also modified their holdings of the stock. Wellington Management Group LLP boosted its stake in Intercontinental Exchange by 219.8% in the third quarter. Wellington Management Group LLP now owns 12,146,620 shares of the financial services provider’s stock valued at $1,336,371,000 after acquiring an additional 8,348,126 shares during the period. Invesco Ltd. grew its stake in Intercontinental Exchange by 21.1% during the 3rd quarter. Invesco Ltd. now owns 6,073,725 shares of the financial services provider’s stock worth $668,231,000 after buying an additional 1,058,536 shares during the last quarter. Vanguard Group Inc. increased its position in Intercontinental Exchange by 2.2% in the third quarter. Vanguard Group Inc. now owns 46,919,116 shares of the financial services provider’s stock worth $5,162,041,000 after buying an additional 1,012,034 shares during the period. Barclays PLC increased its position in Intercontinental Exchange by 58.8% in the third quarter. Barclays PLC now owns 2,374,570 shares of the financial services provider’s stock worth $261,251,000 after buying an additional 879,646 shares during the period. Finally, Third Point LLC boosted its holdings in shares of Intercontinental Exchange by 29.2% during the third quarter. Third Point LLC now owns 2,389,934 shares of the financial services provider’s stock valued at $262,941,000 after acquiring an additional 539,934 shares during the period. Institutional investors and hedge funds own 89.30% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on ICE shares. Bank of America cut their price objective on shares of Intercontinental Exchange from $156.00 to $153.00 and set a “buy” rating on the stock in a research report on Friday, April 19th. Barclays cut their price target on Intercontinental Exchange from $155.00 to $150.00 and set an “overweight” rating on the stock in a report on Friday. Keefe, Bruyette & Woods lowered their target price on Intercontinental Exchange from $156.00 to $155.00 and set an “outperform” rating on the stock in a research report on Friday. Morgan Stanley boosted their price target on Intercontinental Exchange from $139.00 to $142.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. Finally, StockNews.com lowered Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $147.92.

Intercontinental Exchange Stock Up 3.1 %

Shares of Intercontinental Exchange stock traded up $3.96 during midday trading on Friday, reaching $130.50. 3,991,238 shares of the company’s stock traded hands, compared to its average volume of 2,404,087. The company has a market cap of $74.73 billion, a price-to-earnings ratio of 29.93, a price-to-earnings-growth ratio of 2.14 and a beta of 1.02. Intercontinental Exchange, Inc. has a 52 week low of $103.81 and a 52 week high of $140.43. The company’s 50 day simple moving average is $135.01 and its 200 day simple moving average is $125.81. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.00 and a current ratio of 1.01.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, May 2nd. The financial services provider reported $1.48 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.48. Intercontinental Exchange had a return on equity of 12.76% and a net margin of 24.24%. The firm had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.31 billion. During the same quarter in the prior year, the business earned $1.41 earnings per share. The company’s revenue was up 20.8% on a year-over-year basis. Equities analysts expect that Intercontinental Exchange, Inc. will post 5.95 earnings per share for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Thursday, June 13th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date is Thursday, June 13th. Intercontinental Exchange’s dividend payout ratio (DPR) is 41.28%.

Insider Activity

In other news, General Counsel Andrew J. Surdykowski sold 341 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $131.74, for a total transaction of $44,923.34. Following the completion of the transaction, the general counsel now directly owns 48,713 shares in the company, valued at $6,417,450.62. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, General Counsel Andrew J. Surdykowski sold 341 shares of Intercontinental Exchange stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $131.74, for a total transaction of $44,923.34. Following the sale, the general counsel now directly owns 48,713 shares of the company’s stock, valued at $6,417,450.62. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, President Benjamin Jackson sold 27,970 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $134.74, for a total value of $3,768,677.80. Following the completion of the transaction, the president now directly owns 138,487 shares of the company’s stock, valued at approximately $18,659,738.38. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 157,832 shares of company stock valued at $21,499,127. 1.10% of the stock is owned by 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.