Commonwealth Equity Services LLC Acquires 2,469 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Commonwealth Equity Services LLC raised its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 6.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 39,921 shares of the financial services provider’s stock after purchasing an additional 2,469 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Intercontinental Exchange were worth $5,949,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in ICE. Sierra Ocean LLC bought a new stake in shares of Intercontinental Exchange in the fourth quarter valued at about $25,000. FSA Wealth Management LLC bought a new stake in shares of Intercontinental Exchange in the third quarter valued at about $31,000. BankPlus Trust Department bought a new stake in shares of Intercontinental Exchange in the fourth quarter valued at about $40,000. Golden State Wealth Management LLC bought a new stake in shares of Intercontinental Exchange in the fourth quarter valued at about $51,000. Finally, Hanson & Doremus Investment Management bought a new stake in shares of Intercontinental Exchange in the fourth quarter valued at about $55,000. 89.30% of the stock is currently owned by institutional investors.

Intercontinental Exchange Price Performance

ICE stock opened at $174.42 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.99. The firm has a market capitalization of $100.22 billion, a P/E ratio of 36.49, a P/E/G ratio of 2.10 and a beta of 1.08. The business’s 50-day moving average is $164.29 and its two-hundred day moving average is $160.09. Intercontinental Exchange, Inc. has a 1 year low of $124.34 and a 1 year high of $175.99.

Intercontinental Exchange (NYSE:ICE) last issued its 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 return on equity of 12.95% and a net margin of 23.42%. Analysts anticipate that Intercontinental Exchange, Inc. will post 6.73 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 Wednesday, December 31st. Investors of record on Tuesday, December 16th will be paid a dividend of $0.48 per share. The ex-dividend date is Tuesday, December 16th. This represents a $1.92 dividend on an annualized basis and a yield of 1.10%. Intercontinental Exchange’s dividend payout ratio is presently 40.17%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on ICE shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 target price on shares of Intercontinental Exchange in a research note 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. Keefe, Bruyette & Woods lifted their target price on Intercontinental Exchange from $178.00 to $186.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. JPMorgan Chase & Co. cut their target price on Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Finally, UBS Group boosted their price target on Intercontinental Exchange from $185.00 to $195.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, Intercontinental Exchange currently has an average rating of “Moderate Buy” and an average price target of $178.80.

Insider Buying and Selling

In other Intercontinental Exchange news, insider Christopher Scott Edmonds sold 6,834 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $166.99, for a total value of $1,141,209.66. Following the transaction, the insider now directly owns 17,972 shares in the company, valued at approximately $3,001,144.28. This trade represents a 27.55 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Benjamin Jackson sold 7,900 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $171.43, for a total value of $1,354,297.00. Following the completion of the sale, the president now directly owns 147,274 shares of the company’s stock, valued at $25,247,181.82. This represents a 5.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,563 shares of company stock worth $10,998,990 in the last quarter. 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.