Catalyst Financial Partners LLC Invests $243,000 in Intercontinental Exchange, Inc. (NYSE:ICE)

Catalyst Financial Partners LLC purchased a new stake in Intercontinental Exchange, Inc. (NYSE:ICE) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,894 shares of the financial services provider’s stock, valued at approximately $243,000.

Several other hedge funds have also added to or reduced their stakes in the business. OFI Invest Asset Management acquired a new stake in shares of Intercontinental Exchange during the third quarter worth $25,000. Jones Financial Companies Lllp bought a new stake in Intercontinental Exchange in the 3rd quarter valued at about $26,000. Fortitude Family Office LLC bought a new position in shares of Intercontinental Exchange during the fourth quarter worth approximately $28,000. Stuart Chaussee & Associates Inc. bought a new position in shares of Intercontinental Exchange during the fourth quarter worth approximately $28,000. Finally, BKM Wealth Management LLC acquired a new stake in shares of Intercontinental Exchange in the fourth quarter valued at approximately $31,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Insider Buying and Selling

In related news, General Counsel Andrew J. Surdykowski sold 341 shares of the stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $131.74, for a total value of $44,923.34. Following the completion of the transaction, the general counsel now directly owns 48,713 shares in the company, valued at approximately $6,417,450.62. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, General Counsel Andrew J. Surdykowski sold 341 shares of the firm’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 owns 48,713 shares of the company’s stock, valued at approximately $6,417,450.62. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO James W. Namkung sold 1,182 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $132.03, for a total value of $156,059.46. Following the completion of the sale, the chief accounting officer now directly owns 16,396 shares in the company, valued at $2,164,763.88. The disclosure for this sale can be found here. Insiders have sold a total of 157,832 shares of company stock valued at $21,499,127 over the last ninety days. Company insiders own 1.10% of the company’s stock.

Intercontinental Exchange Trading Down 0.2 %

ICE traded down $0.33 during trading on Wednesday, hitting $133.39. 1,397,428 shares of the stock traded hands, compared to its average volume of 2,406,588. The firm has a 50-day moving average of $134.78 and a 200 day moving average of $126.35. Intercontinental Exchange, Inc. has a 12-month low of $103.81 and a 12-month high of $140.43. The firm has a market capitalization of $76.51 billion, a P/E ratio of 30.59, a price-to-earnings-growth ratio of 2.14 and a beta of 1.02. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.01 and a quick ratio of 1.01.

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

Intercontinental Exchange Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Thursday, June 13th will be given a dividend of $0.45 per share. The ex-dividend date is Thursday, June 13th. This represents a $1.80 annualized dividend and a dividend yield of 1.35%. Intercontinental Exchange’s dividend payout ratio is presently 41.28%.

Analysts Set New Price Targets

ICE has been the topic of a number of recent analyst reports. Citigroup lifted their price objective on shares of Intercontinental Exchange from $155.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. Bank of America dropped their price objective on Intercontinental Exchange from $156.00 to $153.00 and set a “buy” rating for the company in a research report on Friday, April 19th. Morgan Stanley lifted their target price on Intercontinental Exchange from $139.00 to $142.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. JPMorgan Chase & Co. raised their price target on shares of Intercontinental Exchange from $147.00 to $151.00 and gave the company an “overweight” rating in a research note on Friday, May 3rd. Finally, Piper Sandler upped their price objective on shares of Intercontinental Exchange from $135.00 to $149.00 and gave the stock an “overweight” rating in a research report on Monday, February 12th. One 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. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $147.92.

Intercontinental Exchange Company Profile

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.