Magnolia Capital Advisors LLC Buys 564 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Magnolia Capital Advisors LLC boosted its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 9.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,389 shares of the financial services provider’s stock after buying an additional 564 shares during the period. Magnolia Capital Advisors LLC’s holdings in Intercontinental Exchange were worth $824,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ICE. OFI Invest Asset Management bought a new stake in shares of Intercontinental Exchange in the 3rd quarter worth $25,000. Jones Financial Companies Lllp purchased a new stake in shares of Intercontinental Exchange in the third quarter worth about $26,000. Fortitude Family Office LLC purchased a new stake in shares of Intercontinental Exchange in the fourth quarter worth about $28,000. BKM Wealth Management LLC bought a new stake in Intercontinental Exchange during the fourth quarter worth approximately $31,000. Finally, Rakuten Securities Inc. bought a new stake in Intercontinental Exchange during the fourth quarter worth approximately $39,000. Institutional investors own 89.30% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. UBS Group boosted their price objective on Intercontinental Exchange from $145.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, February 12th. Piper Sandler upped their target price on 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 upped their target price on Intercontinental Exchange from $154.00 to $164.00 and gave the company a “buy” rating in a research note on Friday, February 9th. Bank of America cut their target price on Intercontinental Exchange from $156.00 to $153.00 and set a “buy” rating on the stock in a research note on Friday, April 19th. Finally, Citigroup upped their target price on Intercontinental Exchange from $155.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. Three research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Intercontinental Exchange currently has an average rating of “Moderate Buy” and an average target price of $148.08.

Intercontinental Exchange Trading Up 0.2 %

Shares of NYSE ICE traded up $0.24 during trading hours on Wednesday, reaching $132.57. The stock had a trading volume of 2,498,395 shares, compared to its average volume of 2,392,151. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.80. The firm has a market cap of $75.91 billion, a price-to-earnings ratio of 31.56, a P/E/G ratio of 2.15 and a beta of 1.02. The business’s fifty day moving average price is $136.07 and its two-hundred day moving average price is $125.00. Intercontinental Exchange, Inc. has a 52-week low of $103.81 and a 52-week high of $140.43.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, February 8th. The financial services provider reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.29 by $0.04. The company had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.20 billion. Intercontinental Exchange had a return on equity of 12.91% and a net margin of 23.91%. Intercontinental Exchange’s revenue was up 24.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.25 earnings per share. Analysts expect that Intercontinental Exchange, Inc. will post 5.97 EPS for the current fiscal year.

Intercontinental Exchange Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.36%. This is an increase from Intercontinental Exchange’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Thursday, March 14th. Intercontinental Exchange’s dividend payout ratio is presently 42.86%.

Insiders Place Their Bets

In other news, President Benjamin Jackson sold 27,970 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $134.74, for a total transaction of $3,768,677.80. Following the sale, the president now directly owns 138,487 shares in the company, valued at approximately $18,659,738.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Intercontinental Exchange news, President Benjamin Jackson sold 27,970 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $134.74, for a total value of $3,768,677.80. Following the transaction, the president now directly owns 138,487 shares of the company’s stock, valued at approximately $18,659,738.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO James W. Namkung sold 1,182 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $132.03, for a total transaction of $156,059.46. Following the sale, the chief accounting officer now owns 16,396 shares of the company’s stock, valued at approximately $2,164,763.88. The disclosure for this sale can be found here. In the last three months, insiders have sold 157,491 shares of company stock valued at $21,454,204. Company 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.