Chemistry Wealth Management LLC Decreases Stock Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Chemistry Wealth Management LLC trimmed its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 1.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,787 shares of the financial services provider’s stock after selling 94 shares during the period. Chemistry Wealth Management LLC’s holdings in Intercontinental Exchange were worth $1,343,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in ICE. Sierra Ocean LLC purchased a new position in shares of Intercontinental Exchange during the fourth quarter valued at approximately $25,000. REAP Financial Group LLC raised its holdings in shares of Intercontinental Exchange by 116.7% during the fourth quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 91 shares during the last quarter. Menard Financial Group LLC purchased a new position in shares of Intercontinental Exchange during the fourth quarter valued at approximately $29,000. Redwood Park Advisors LLC purchased a new position in shares of Intercontinental Exchange during the fourth quarter valued at approximately $33,000. Finally, Lee Danner & Bass Inc. purchased a new position in shares of Intercontinental Exchange during the fourth quarter valued at approximately $34,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on ICE shares. Wall Street Zen raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Monday, February 10th. Morgan Stanley boosted their target price on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the company an “equal weight” rating in a research report on Monday, May 5th. Bank of America cut their target price on shares of Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating for the company in a research report on Wednesday, April 2nd. Barclays boosted their target price on shares of Intercontinental Exchange from $189.00 to $198.00 and gave the company an “overweight” rating in a research report on Friday, May 2nd. Finally, UBS Group boosted their target price on shares of Intercontinental Exchange from $185.00 to $195.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $188.46.

Intercontinental Exchange Stock Performance

ICE opened at $178.70 on Friday. The firm has a market cap of $102.51 billion, a P/E ratio of 37.38, a PEG ratio of 2.10 and a beta of 1.12. Intercontinental Exchange, Inc. has a 1-year low of $132.93 and a 1-year high of $180.89. The company has a 50 day simple moving average of $168.60 and a two-hundred day simple moving average of $163.40. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.99.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, May 1st. The financial services provider reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.70 by $0.02. Intercontinental Exchange had a net margin of 23.42% and a return on equity of 12.95%. The firm had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.44 billion. During the same quarter in the prior year, the business earned $1.48 earnings per share. Intercontinental Exchange’s revenue for the quarter was up 8.0% on a year-over-year basis. Equities analysts forecast that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be paid a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 1.07%. Intercontinental Exchange’s dividend payout ratio is currently 39.75%.

Insider Activity

In other news, Director Martha A. Tirinnanzi sold 397 shares of Intercontinental Exchange stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $177.11, for a total value of $70,312.67. Following the transaction, the director now owns 4,526 shares of the company’s stock, valued at $801,599.86. The trade was a 8.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Judith A. Sprieser sold 2,630 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $159.00, for a total transaction of $418,170.00. Following the completion of the transaction, the director now directly owns 21,364 shares in the company, valued at approximately $3,396,876. The trade was a 10.96% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 226,354 shares of company stock valued at $40,512,695. 1.00% of the stock is currently owned by company 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.