Modera Wealth Management LLC Has $8.38 Million Holdings in Intercontinental Exchange Inc. $ICE

Modera Wealth Management LLC cut its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 6.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 51,720 shares of the financial services provider’s stock after selling 3,421 shares during the quarter. Modera Wealth Management LLC’s holdings in Intercontinental Exchange were worth $8,377,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of ICE. Wellington Management Group LLP increased its position in shares of Intercontinental Exchange by 64.7% during the third quarter. Wellington Management Group LLP now owns 10,354,224 shares of the financial services provider’s stock valued at $1,744,480,000 after purchasing an additional 4,067,922 shares during the period. Mawer Investment Management Ltd. increased its position in shares of Intercontinental Exchange by 179.1% during the third quarter. Mawer Investment Management Ltd. now owns 2,472,366 shares of the financial services provider’s stock valued at $416,544,000 after purchasing an additional 1,586,620 shares during the period. Waverton Investment Management Ltd increased its position in shares of Intercontinental Exchange by 28,886.8% during the third quarter. Waverton Investment Management Ltd now owns 1,526,734 shares of the financial services provider’s stock valued at $257,163,000 after purchasing an additional 1,521,467 shares during the period. Assenagon Asset Management S.A. grew its position in Intercontinental Exchange by 503.7% in the third quarter. Assenagon Asset Management S.A. now owns 1,133,892 shares of the financial services provider’s stock valued at $191,038,000 after acquiring an additional 946,065 shares during the period. Finally, Capital World Investors grew its position in Intercontinental Exchange by 15.2% in the third quarter. Capital World Investors now owns 7,028,964 shares of the financial services provider’s stock valued at $1,184,238,000 after acquiring an additional 928,047 shares during the period. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Intercontinental Exchange Price Performance

Shares of ICE stock opened at $166.18 on Wednesday. The stock’s fifty day moving average is $160.87 and its 200-day moving average is $160.35. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a market capitalization of $94.13 billion, a PE ratio of 28.80, a PEG ratio of 1.75 and a beta of 1.03. Intercontinental Exchange Inc. has a 52 week low of $143.17 and a 52 week high of $189.35.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, February 5th. The financial services provider reported $1.71 EPS for the quarter, topping the consensus estimate of $1.67 by $0.04. The company had revenue of $3.14 billion for the quarter, compared to analysts’ expectations of $2.51 billion. Intercontinental Exchange had a return on equity of 13.99% and a net margin of 26.23%.The business’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.52 earnings per share. Equities research analysts expect that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Wednesday, December 16th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Wednesday, December 16th. Intercontinental Exchange’s dividend payout ratio is presently 36.05%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on ICE shares. TD Cowen reiterated a “buy” rating on shares of Intercontinental Exchange in a research report on Friday, February 6th. Barclays set a $193.00 price target on Intercontinental Exchange and gave the company an “overweight” rating in a research report on Friday, February 6th. Piper Sandler reiterated an “overweight” rating and issued a $195.00 price target (down from $202.00) on shares of Intercontinental Exchange in a research report on Wednesday, January 14th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Intercontinental Exchange in a research report on Monday, December 29th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $180.00 price target on shares of Intercontinental Exchange in a research report on Tuesday, January 6th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $191.20.

Insider Activity at Intercontinental Exchange

In other news, insider Christopher Scott Edmonds sold 11,303 shares of the stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $153.82, for a total transaction of $1,738,627.46. Following the sale, the insider owned 14,266 shares in the company, valued at approximately $2,194,396.12. This represents a 44.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Warren Gardiner sold 2,490 shares of the stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $154.00, for a total value of $383,460.00. Following the sale, the chief financial officer owned 27,679 shares in the company, valued at $4,262,566. The trade was a 8.25% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 348,418 shares of company stock valued at $54,196,631. 1.00% of the stock is currently owned by company insiders.

Intercontinental Exchange Profile

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.