Moss Adams Wealth Advisors LLC Has $1.24 Million Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

Moss Adams Wealth Advisors LLC increased its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 4.5% in the 1st quarter, HoldingsChannel.com reports. The fund owned 7,198 shares of the financial services provider’s stock after purchasing an additional 310 shares during the quarter. Moss Adams Wealth Advisors LLC’s holdings in Intercontinental Exchange were worth $1,242,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in Intercontinental Exchange by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 52,228,177 shares of the financial services provider’s stock valued at $7,782,521,000 after purchasing an additional 538,670 shares in the last quarter. Geode Capital Management LLC increased its position in Intercontinental Exchange by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 11,883,252 shares of the financial services provider’s stock worth $1,765,317,000 after buying an additional 327,637 shares during the last quarter. Royal Bank of Canada raised its stake in Intercontinental Exchange by 132.9% in the 4th quarter. Royal Bank of Canada now owns 9,121,352 shares of the financial services provider’s stock valued at $1,359,173,000 after acquiring an additional 5,204,309 shares during the period. Norges Bank bought a new position in Intercontinental Exchange during the fourth quarter worth about $1,196,258,000. Finally, Northern Trust Corp boosted its position in Intercontinental Exchange by 9.7% during the fourth quarter. Northern Trust Corp now owns 7,422,007 shares of the financial services provider’s stock worth $1,105,953,000 after purchasing an additional 655,247 shares during the period. Institutional investors own 89.30% of the company’s stock.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, CAO James W. Namkung sold 612 shares of the firm’s stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $180.00, for a total transaction of $110,160.00. Following the completion of the transaction, the chief accounting officer now directly owns 13,220 shares of the company’s stock, valued at approximately $2,379,600. This trade represents a 4.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Judith A. Sprieser sold 2,630 shares of the firm’s 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 sale, the director now directly owns 21,364 shares in the company, valued at $3,396,876. The trade was a 10.96% decrease in their position. The disclosure for this sale can be found here. Insiders sold 226,354 shares of company stock valued at $40,512,695 in the last three months. 1.00% of the stock is owned by insiders.

Intercontinental Exchange Trading Up 0.1%

ICE stock opened at $178.70 on Monday. The firm’s fifty day simple moving average is $168.60 and its two-hundred day simple moving average is $163.49. 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 $102.51 billion, a price-to-earnings ratio of 37.38, a price-to-earnings-growth ratio of 2.10 and a beta of 1.12. Intercontinental Exchange, Inc. has a twelve month low of $132.93 and a twelve month high of $180.89.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data 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 company had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.44 billion. During the same period in the prior year, the firm earned $1.48 earnings per share. The firm’s revenue for the quarter was up 8.0% compared to the same quarter last year. As a group, analysts anticipate that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Bank of America lowered their price target on shares of Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating on the stock in a report on Wednesday, April 2nd. 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 increased their target price on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the company an “equal weight” rating in a report on Monday, May 5th. Keefe, Bruyette & Woods raised their price target on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the stock an “outperform” rating in a report on Friday, May 2nd. Finally, Barclays raised their price target on shares of Intercontinental Exchange from $189.00 to $198.00 and gave the stock an “overweight” rating in a report on Friday, May 2nd. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $188.46.

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.