GDS Wealth Management Has $10.72 Million Stock Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

GDS Wealth Management raised its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 12.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 83,479 shares of the financial services provider’s stock after buying an additional 8,975 shares during the quarter. Intercontinental Exchange accounts for about 1.4% of GDS Wealth Management’s holdings, making the stock its 24th biggest position. GDS Wealth Management’s holdings in Intercontinental Exchange were worth $10,721,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Nordea Investment Management AB increased its stake in Intercontinental Exchange by 27.3% in the 4th quarter. Nordea Investment Management AB now owns 56,870 shares of the financial services provider’s stock valued at $7,311,000 after buying an additional 12,208 shares during the period. Oppenheimer Asset Management Inc. grew its stake in Intercontinental Exchange by 7.0% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 126,854 shares of the financial services provider’s stock valued at $13,956,000 after buying an additional 8,320 shares during the last quarter. LGT Group Foundation grew its stake in Intercontinental Exchange by 36.0% in the 4th quarter. LGT Group Foundation now owns 355,555 shares of the financial services provider’s stock valued at $45,724,000 after buying an additional 94,039 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in Intercontinental Exchange by 9.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,235,985 shares of the financial services provider’s stock valued at $158,738,000 after buying an additional 105,042 shares during the last quarter. Finally, First County Bank CT grew its stake in Intercontinental Exchange by 2.7% in the 3rd quarter. First County Bank CT now owns 3,811 shares of the financial services provider’s stock valued at $419,000 after buying an additional 100 shares during the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on ICE shares. Morgan Stanley raised their target price on shares of Intercontinental Exchange from $139.00 to $142.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. Piper Sandler raised their target price on shares of Intercontinental Exchange from $135.00 to $149.00 and gave the company an “overweight” rating in a research note on Monday, February 12th. Rosenblatt Securities reiterated a “buy” rating and issued a $164.00 target price on shares of Intercontinental Exchange in a research note on Friday, May 3rd. Keefe, Bruyette & Woods lowered their target price on shares of Intercontinental Exchange from $156.00 to $155.00 and set an “outperform” rating on the stock in a research note on Friday, May 3rd. Finally, UBS Group increased their price target on shares of Intercontinental Exchange from $145.00 to $160.00 and gave the company a “buy” rating in a report on Monday, February 12th. One equities research 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 company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $147.92.

Intercontinental Exchange Price Performance

Shares of NYSE:ICE traded up $1.56 during midday trading on Thursday, reaching $134.95. 1,469,909 shares of the company’s stock were exchanged, compared to its average volume of 2,396,228. The company’s 50 day simple moving average is $134.67 and its two-hundred day simple moving average is $126.40. The firm has a market capitalization of $77.41 billion, a PE ratio of 30.95, a price-to-earnings-growth ratio of 2.14 and a beta of 1.02. Intercontinental Exchange, Inc. has a 12 month low of $103.81 and a 12 month high of $140.43. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.01 and a current ratio of 1.01.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $1.48 EPS for the quarter, hitting 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 net margin of 24.24% and a return on equity of 12.76%. The firm’s revenue for the quarter was up 20.8% compared to the same quarter last year. During the same period last year, the firm earned $1.41 EPS. Equities research analysts expect that Intercontinental Exchange, Inc. will post 5.95 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Thursday, June 13th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date of this dividend is Thursday, June 13th. Intercontinental Exchange’s payout ratio is 41.28%.

Insider Activity at Intercontinental Exchange

In related news, CFO Warren Gardiner sold 2,176 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $136.00, for a total transaction of $295,936.00. Following the sale, the chief financial officer now directly owns 12,061 shares in the company, valued at approximately $1,640,296. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Intercontinental Exchange news, SVP Douglas Foley sold 7,070 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $136.09, for a total value of $962,156.30. Following the completion of the transaction, the senior vice president now directly owns 18,383 shares of the company’s stock, valued at $2,501,742.47. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Warren Gardiner sold 2,176 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $136.00, for a total transaction of $295,936.00. Following the transaction, the chief financial officer now owns 12,061 shares in the company, valued at $1,640,296. The disclosure for this sale can be found here. Insiders sold 152,867 shares of company stock valued at $20,843,598 in the last ninety days. Insiders own 1.10% of the company’s stock.

Intercontinental Exchange 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.