Maxwell Wealth Strategies Inc. Has $2.68 Million Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Maxwell Wealth Strategies Inc. lessened its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 1.4% in the fourth quarter, Holdings Channel.com reports. The fund owned 17,963 shares of the financial services provider’s stock after selling 250 shares during the quarter. Intercontinental Exchange comprises 1.1% of Maxwell Wealth Strategies Inc.’s holdings, making the stock its 26th largest holding. Maxwell Wealth Strategies Inc.’s holdings in Intercontinental Exchange were worth $2,677,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sierra Ocean LLC bought a new position in shares of Intercontinental Exchange in the 4th quarter worth $25,000. Lee Danner & Bass Inc. acquired a new position in Intercontinental Exchange in the fourth quarter valued at about $34,000. BankPlus Trust Department bought a new position in Intercontinental Exchange during the fourth quarter worth about $40,000. Mountain Hill Investment Partners Corp. acquired a new position in shares of Intercontinental Exchange during the 4th quarter worth about $45,000. Finally, Golden State Wealth Management LLC bought a new stake in shares of Intercontinental Exchange in the 4th quarter valued at about $51,000. Institutional investors own 89.30% of the company’s stock.

Insider Activity at Intercontinental Exchange

In other news, CTO Mayur Kapani sold 5,661 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $147.59, for a total value of $835,506.99. Following the completion of the sale, the chief technology officer now owns 66,548 shares of the company’s stock, valued at approximately $9,821,819.32. This represents a 7.84 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Christopher Scott Edmonds sold 601 shares of the business’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $147.73, for a total transaction of $88,785.73. Following the transaction, the insider now owns 12,922 shares in the company, valued at approximately $1,908,967.06. The trade was a 4.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,563 shares of company stock valued at $10,998,990. Insiders own 1.10% of the company’s stock.

Intercontinental Exchange Price Performance

Shares of ICE opened at $150.94 on Wednesday. The company has a 50 day moving average of $168.08 and a 200-day moving average of $160.62. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $86.72 billion, a P/E ratio of 31.58, a P/E/G ratio of 2.10 and a beta of 1.09. Intercontinental Exchange, Inc. has a twelve month low of $124.34 and a twelve month high of $177.45.

Intercontinental Exchange (NYSE:ICE) last released its 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 net margin of 23.42% and a return on equity of 12.95%. As a group, equities research analysts forecast that Intercontinental Exchange, Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Tuesday, December 16th will be issued a dividend of $0.48 per share. The ex-dividend date of this dividend is Tuesday, December 16th. This represents a $1.92 annualized dividend and a yield of 1.27%. Intercontinental Exchange’s payout ratio is presently 40.17%.

Wall Street Analysts Forecast Growth

ICE has been the topic of several recent analyst reports. StockNews.com raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Monday, February 10th. Royal Bank of Canada reissued an “outperform” rating and set a $200.00 price target on shares of Intercontinental Exchange in a research report on Tuesday, January 7th. JPMorgan Chase & Co. lowered their price objective on shares of Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Barclays raised their price objective on Intercontinental Exchange from $179.00 to $189.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. Finally, UBS Group boosted their target price on Intercontinental Exchange from $185.00 to $195.00 and gave the company 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. According to data from MarketBeat.com, Intercontinental Exchange currently has an average rating of “Moderate Buy” and a consensus price target of $182.47.

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.