Wedbush Securities Inc. Raises Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)


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Wedbush Securities Inc. grew its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 9.7% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,422 shares of the financial services provider’s stock after buying an additional 656 shares during the period. Wedbush Securities Inc.’s holdings in Intercontinental Exchange were worth $829,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of ICE. Signature Estate & Investment Advisors LLC lifted its holdings in shares of Intercontinental Exchange by 4.7% in the 1st quarter. Signature Estate & Investment Advisors LLC now owns 311,431 shares of the financial services provider’s stock worth $34,781,000 after acquiring an additional 13,859 shares during the last quarter. US Bancorp DE lifted its holdings in shares of Intercontinental Exchange by 3.7% in the 4th quarter. US Bancorp DE now owns 107,480 shares of the financial services provider’s stock worth $12,392,000 after acquiring an additional 3,799 shares during the last quarter. Marietta Wealth Management LLC lifted its holdings in Intercontinental Exchange by 3.3% during the 4th quarter. Marietta Wealth Management LLC now owns 50,505 shares of the financial services provider’s stock valued at $5,823,000 after buying an additional 1,612 shares in the last quarter. Meitav Dash Investments Ltd. lifted its holdings in Intercontinental Exchange by 0.9% during the 4th quarter. Meitav Dash Investments Ltd. now owns 186,569 shares of the financial services provider’s stock valued at $21,510,000 after buying an additional 1,620 shares in the last quarter. Finally, Trust Co. of Vermont lifted its holdings in Intercontinental Exchange by 8.0% during the 4th quarter. Trust Co. of Vermont now owns 33,671 shares of the financial services provider’s stock valued at $3,882,000 after buying an additional 2,490 shares in the last quarter. 87.42% of the stock is owned by institutional investors and hedge funds.

ICE has been the subject of a number of research analyst reports. Oppenheimer reiterated a “hold” rating on shares of Intercontinental Exchange in a report on Monday, January 25th. Raymond James boosted their price target on shares of Intercontinental Exchange from $133.00 to $136.00 and gave the company a “strong-buy” rating in a report on Tuesday, April 6th. Barclays boosted their price target on shares of Intercontinental Exchange from $125.00 to $134.00 and gave the company an “overweight” rating in a report on Tuesday, January 12th. Zacks Investment Research upgraded shares of Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $127.00 price target for the company in a report on Monday, April 19th. Finally, Rosenblatt Securities boosted their price target on shares of Intercontinental Exchange from $133.00 to $134.00 and gave the company a “buy” rating in a report on Friday. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $123.50.

In other Intercontinental Exchange news, CFO Scott A. Hill sold 6,142 shares of the business’s stock in a transaction that occurred on Thursday, February 18th. The shares were sold at an average price of $113.28, for a total transaction of $695,765.76. Following the sale, the chief financial officer now owns 175,062 shares of the company’s stock, valued at approximately $19,831,023.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Lynn C. Martin sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, April 22nd. The stock was sold at an average price of $120.00, for a total transaction of $300,000.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 50,831 shares of company stock worth $5,858,653. 1.50% of the stock is owned by insiders.

Shares of Intercontinental Exchange stock opened at $115.46 on Tuesday. The firm’s 50 day moving average price is $116.18 and its 200-day moving average price is $110.62. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.78. Intercontinental Exchange, Inc. has a 52-week low of $87.51 and a 52-week high of $121.96. The company has a market cap of $64.97 billion, a P/E ratio of 31.81, a PEG ratio of 2.18 and a beta of 0.68.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, April 29th. The financial services provider reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.30 by $0.04. The firm had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.75 billion. Intercontinental Exchange had a net margin of 26.19% and a return on equity of 13.63%. The company’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.28 EPS. As a group, equities research analysts forecast that Intercontinental Exchange, Inc. will post 4.46 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 30th. Shareholders of record on Wednesday, June 16th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend is Tuesday, June 15th. Intercontinental Exchange’s dividend payout ratio is presently 34.02%.

About Intercontinental Exchange

Intercontinental Exchange, Inc operates regulated exchanges, clearing houses, and listings venues for commodity, financial, fixed income, and equity markets in the United States, the United Kingdom, the European Union, Singapore, Israel, and Canada. It operates through three segments: Exchanges, Fixed Income and Data Services, and Mortgage Technology.

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Institutional Ownership by Quarter for Intercontinental Exchange (NYSE:ICE)

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