Wealthspire Advisors LLC lowered its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 76.4% in the second quarter, Holdings Channel.com reports. The firm owned 2,208 shares of the financial services provider’s stock after selling 7,138 shares during the period. Wealthspire Advisors LLC’s holdings in Intercontinental Exchange were worth $262,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in ICE. Alpha Paradigm Partners LLC acquired a new position in Intercontinental Exchange in the first quarter valued at $26,000. WASHINGTON TRUST Co boosted its holdings in Intercontinental Exchange by 100.0% in the second quarter. WASHINGTON TRUST Co now owns 230 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 115 shares during the last quarter. Red Door Wealth Management LLC acquired a new position in Intercontinental Exchange in the second quarter valued at $31,000. RE Advisers Corp acquired a new position in Intercontinental Exchange in the second quarter valued at $31,000. Finally, Hexagon Capital Partners LLC boosted its holdings in Intercontinental Exchange by 65.6% in the first quarter. Hexagon Capital Partners LLC now owns 308 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 122 shares during the last quarter. 88.12% of the stock is owned by institutional investors and hedge funds.
ICE has been the topic of a number of research analyst reports. The Goldman Sachs Group upgraded Intercontinental Exchange from a “buy” rating to a “conviction-buy” rating in a report on Wednesday, June 23rd. Zacks Investment Research cut Intercontinental Exchange from a “hold” rating to a “sell” rating and set a $126.00 price objective on the stock. in a research note on Friday, September 17th. Raymond James boosted their price objective on Intercontinental Exchange from $136.00 to $140.00 and gave the stock a “strong-buy” rating in a research note on Friday, July 30th. UBS Group boosted their price objective on Intercontinental Exchange from $143.00 to $148.00 and gave the stock a “buy” rating in a research note on Wednesday, October 6th. Finally, Morgan Stanley boosted their price objective on Intercontinental Exchange from $124.00 to $131.00 and gave the stock an “equal weight” rating in a research note on Friday, October 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $131.30.
Shares of NYSE ICE opened at $128.35 on Thursday. Intercontinental Exchange, Inc. has a 1 year low of $92.41 and a 1 year high of $129.38. The firm has a market cap of $72.28 billion, a price-to-earnings ratio of 25.67 and a beta of 0.73. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.02 and a current ratio of 1.02. The stock’s 50-day simple moving average is $119.26 and its 200-day simple moving average is $117.20.
Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, July 29th. The financial services provider reported $1.16 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $1.16. Intercontinental Exchange had a return on equity of 13.16% and a net margin of 32.25%. The business had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.71 billion. As a group, research analysts predict that Intercontinental Exchange, Inc. will post 4.88 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 30th. Stockholders of record on Thursday, September 16th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date was Wednesday, September 15th. Intercontinental Exchange’s payout ratio is 29.27%.
Intercontinental Exchange Company Profile
Intercontinental Exchange, Inc engages in the management of online marketplace. It operates through the following segments: Exchanges; Fixed Income and Data Services; and Mortgage Technology. The company was founded by Jeffrey C. Sprecher in May 2000 and is headquartered in Atlanta, GA.
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