Invera Wealth Advisors LLC Decreases Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Invera Wealth Advisors LLC lowered its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 0.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,686 shares of the financial services provider’s stock after selling 97 shares during the quarter. Intercontinental Exchange accounts for about 2.9% of Invera Wealth Advisors LLC’s portfolio, making the stock its 14th largest position. Invera Wealth Advisors LLC’s holdings in Intercontinental Exchange were worth $3,495,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of ICE. OFI Invest Asset Management purchased a new position in Intercontinental Exchange in the third quarter worth approximately $25,000. Scarborough Advisors LLC purchased a new stake in shares of Intercontinental Exchange during the 4th quarter worth $25,000. Annapolis Financial Services LLC grew its stake in shares of Intercontinental Exchange by 1,018.8% during the first quarter. Annapolis Financial Services LLC now owns 179 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 163 shares in the last quarter. Jones Financial Companies Lllp purchased a new position in Intercontinental Exchange in the third quarter valued at $26,000. Finally, Redmont Wealth Advisors LLC acquired a new stake in Intercontinental Exchange in the first quarter valued at $26,000. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Intercontinental Exchange

In related news, CFO Warren Gardiner sold 500 shares of Intercontinental Exchange stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $138.83, for a total transaction of $69,415.00. Following the completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Warren Gardiner sold 500 shares of Intercontinental Exchange stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $138.83, for a total transaction 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 $2,544,198.58. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO James W. Namkung sold 1,182 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $132.03, for a total transaction of $156,059.46. Following the completion of the sale, the chief accounting officer now directly owns 16,396 shares of the company’s stock, valued at $2,164,763.88. The disclosure for this sale can be found here. In the last three months, insiders sold 157,491 shares of company stock worth $21,454,204. 1.10% of the stock is owned by corporate insiders.

Intercontinental Exchange Price Performance

ICE stock traded down $0.92 on Monday, reaching $130.78. 1,557,866 shares of the company’s stock were exchanged, compared to its average volume of 2,376,438. The stock has a fifty day moving average of $135.74 and a 200-day moving average of $125.52. The firm has a market cap of $74.89 billion, a PE ratio of 31.14, a P/E/G ratio of 2.15 and a beta of 1.02. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.80. Intercontinental Exchange, Inc. has a twelve month low of $103.81 and a twelve month high of $140.43.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, February 8th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.04. Intercontinental Exchange had a net margin of 23.91% and a return on equity of 12.91%. The company had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.20 billion. During the same period last year, the firm earned $1.25 EPS. The company’s revenue for the quarter was up 24.5% on a year-over-year basis. As a group, equities analysts predict that Intercontinental Exchange, Inc. will post 5.97 EPS for the current fiscal year.

Intercontinental Exchange Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Morgan Stanley upped their price target on Intercontinental Exchange from $139.00 to $142.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. Barclays increased their target price on shares of Intercontinental Exchange from $153.00 to $155.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. JPMorgan Chase & Co. boosted their price target on shares of Intercontinental Exchange from $142.00 to $151.00 and gave the company an “overweight” rating in a research report on Friday, February 9th. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $152.00 price objective on shares of Intercontinental Exchange in a research note on Thursday, April 4th. Finally, Citigroup lifted their target price on Intercontinental Exchange from $155.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, April 4th. Three investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $148.08.

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.