Waterfront Wealth Inc. Purchases 196 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Waterfront Wealth Inc. lifted its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 2.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,084 shares of the financial services provider’s stock after purchasing an additional 196 shares during the period. Waterfront Wealth Inc.’s holdings in Intercontinental Exchange were worth $1,167,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Nordea Investment Management AB increased its holdings in Intercontinental Exchange by 27.3% during the fourth quarter. Nordea Investment Management AB now owns 56,870 shares of the financial services provider’s stock worth $7,311,000 after buying an additional 12,208 shares during the last quarter. Oppenheimer Asset Management Inc. increased its holdings in Intercontinental Exchange by 7.0% during the third quarter. Oppenheimer Asset Management Inc. now owns 126,854 shares of the financial services provider’s stock worth $13,956,000 after buying an additional 8,320 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Intercontinental Exchange by 9.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,235,985 shares of the financial services provider’s stock worth $158,738,000 after buying an additional 105,042 shares during the last quarter. First County Bank CT increased its stake in shares of Intercontinental Exchange by 2.7% in the third quarter. First County Bank CT now owns 3,811 shares of the financial services provider’s stock worth $419,000 after purchasing an additional 100 shares in the last quarter. Finally, CIC Wealth LLC purchased a new position in shares of Intercontinental Exchange in the fourth quarter worth about $221,000. 89.30% of the stock is owned by institutional investors.

Insider Transactions at Intercontinental Exchange

In other news, CFO Warren Gardiner sold 500 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $138.83, for a total value of $69,415.00. Following the completion of the sale, the chief financial officer now directly owns 18,326 shares in the company, valued at approximately $2,544,198.58. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, major shareholder Intercontinental Exchange, Inc purchased 2,762,009 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was bought at an average cost of $0.87 per share, for a total transaction of $2,402,947.83. Following the acquisition, the insider now directly owns 7,476,345 shares of the company’s stock, valued at approximately $6,504,420.15. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Warren Gardiner sold 500 shares of the company’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $138.83, for a total transaction of $69,415.00. Following the sale, the chief financial officer now owns 18,326 shares of the company’s stock, valued at $2,544,198.58. The disclosure for this sale can be found here. In the last ninety days, insiders sold 157,491 shares of company stock worth $21,454,204. 1.10% of the stock is currently owned by insiders.

Intercontinental Exchange Price Performance

Intercontinental Exchange stock traded up $0.84 during mid-day trading on Wednesday, hitting $130.74. 2,361,235 shares of the company traded hands, compared to its average volume of 2,404,729. Intercontinental Exchange, Inc. has a one year low of $103.81 and a one year high of $140.43. The stock has a market cap of $74.86 billion, a price-to-earnings ratio of 31.13, a price-to-earnings-growth ratio of 2.07 and a beta of 1.02. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a fifty day moving average price of $136.42 and a 200-day moving average price of $124.22.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, February 8th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.04. The business had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.20 billion. Intercontinental Exchange had a net margin of 23.91% and a return on equity of 12.91%. Intercontinental Exchange’s revenue for the quarter was up 24.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.25 earnings per share. On average, equities analysts predict that Intercontinental Exchange, Inc. will post 5.98 earnings per share for the current fiscal year.

Intercontinental Exchange Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.38%. This is a positive change from Intercontinental Exchange’s previous quarterly dividend of $0.42. The ex-dividend date was Thursday, March 14th. Intercontinental Exchange’s payout ratio is presently 42.86%.

Wall Street Analyst Weigh In

ICE has been the subject of several recent research reports. UBS Group lifted their target price on shares of Intercontinental Exchange from $145.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, February 12th. Rosenblatt Securities lifted their target price on shares of Intercontinental Exchange from $154.00 to $164.00 and gave the stock a “buy” rating in a research note on Friday, February 9th. JPMorgan Chase & Co. lifted their target price on shares of Intercontinental Exchange from $142.00 to $151.00 and gave the stock an “overweight” rating in a research note on Friday, February 9th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $152.00 target price on shares of Intercontinental Exchange in a research note on Thursday, April 4th. Finally, Morgan Stanley boosted their price objective 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. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Intercontinental Exchange presently has an average rating of “Moderate Buy” and an average price target of $147.08.

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.