Waterfront Wealth Inc. Increases Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

Waterfront Wealth Inc. raised its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 2.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 9,084 shares of the financial services provider’s stock after acquiring 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 reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Livforsakringsbolaget Skandia Omsesidigt grew its holdings in shares of Intercontinental Exchange by 81.9% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,257 shares of the financial services provider’s stock valued at $161,000 after purchasing an additional 566 shares in the last quarter. Daiwa Securities Group Inc. lifted its position in Intercontinental Exchange by 3.0% in the fourth quarter. Daiwa Securities Group Inc. now owns 82,272 shares of the financial services provider’s stock worth $10,566,000 after buying an additional 2,373 shares during the last quarter. Rakuten Securities Inc. bought a new stake in Intercontinental Exchange in the fourth quarter worth $39,000. TRUE Private Wealth Advisors lifted its position in Intercontinental Exchange by 34.1% in the fourth quarter. TRUE Private Wealth Advisors now owns 3,404 shares of the financial services provider’s stock worth $437,000 after buying an additional 865 shares during the last quarter. Finally, Scissortail Wealth Management LLC bought a new stake in Intercontinental Exchange in the fourth quarter worth $650,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

Intercontinental Exchange Stock Up 0.6 %

Shares of ICE stock traded up $0.84 during trading hours on Wednesday, reaching $130.74. 2,361,235 shares of the company’s stock were exchanged, compared to its average volume of 2,404,729. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.80. Intercontinental Exchange, Inc. has a 1 year low of $103.81 and a 1 year high of $140.43. The stock has a market cap of $74.86 billion, a PE ratio of 31.13, a PEG ratio of 2.07 and a beta of 1.02. The stock’s fifty day moving average price is $136.42 and its two-hundred day moving average price is $124.22.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, February 8th. The financial services provider reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.04. Intercontinental Exchange had a return on equity of 12.91% and a net margin of 23.91%. The firm had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.20 billion. During the same quarter in the previous year, the company posted $1.25 earnings per share. The company’s revenue was up 24.5% compared to the same quarter last year. Research analysts predict that Intercontinental Exchange, Inc. will post 5.98 EPS for the current 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 issued a dividend of $0.45 per share. This is an increase from Intercontinental Exchange’s previous quarterly dividend of $0.42. The ex-dividend date was Thursday, March 14th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.38%. Intercontinental Exchange’s payout ratio is 42.86%.

Insider Buying and Selling

In other Intercontinental Exchange news, CEO Jeffrey C. Sprecher sold 58,388 shares of the business’s stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $137.21, for a total value of $8,011,417.48. Following the completion of the transaction, the chief executive officer now directly owns 1,179,895 shares of the company’s stock, valued at $161,893,392.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Jeffrey C. Sprecher sold 58,388 shares of the company’s stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $137.21, for a total transaction of $8,011,417.48. Following the completion of the transaction, the chief executive officer now directly owns 1,179,895 shares of the company’s stock, valued at approximately $161,893,392.95. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Judith A. Sprieser sold 2,238 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $137.36, for a total value of $307,411.68. Following the transaction, the director now directly owns 29,347 shares of the company’s stock, valued at $4,031,103.92. The disclosure for this sale can be found here. Insiders sold 157,491 shares of company stock valued at $21,454,204 over the last quarter. 1.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

ICE has been the subject of a number of analyst reports. Raymond James raised their price target on Intercontinental Exchange from $135.00 to $145.00 and gave the stock a “strong-buy” rating in a research report on Friday, January 5th. StockNews.com upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Wednesday, February 14th. JPMorgan Chase & Co. raised their price target on Intercontinental Exchange from $142.00 to $151.00 and gave the company an “overweight” rating in a research note on Friday, February 9th. Piper Sandler raised their price target on Intercontinental Exchange from $135.00 to $149.00 and gave the company an “overweight” rating in a research note on Monday, February 12th. Finally, Barclays raised their price target on Intercontinental Exchange from $153.00 to $155.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $147.08.

About Intercontinental Exchange

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.