Obermeyer Wealth Partners Raises Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Obermeyer Wealth Partners boosted its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 9.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,847 shares of the financial services provider’s stock after acquiring an additional 167 shares during the quarter. Obermeyer Wealth Partners’ holdings in Intercontinental Exchange were worth $275,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in ICE. Sierra Ocean LLC acquired a new position in shares of Intercontinental Exchange in the fourth quarter worth about $25,000. Redwood Park Advisors LLC bought a new stake in shares of Intercontinental Exchange in the fourth quarter worth $33,000. Lee Danner & Bass Inc. acquired a new stake in Intercontinental Exchange in the fourth quarter valued at $34,000. BankPlus Trust Department bought a new position in Intercontinental Exchange during the 4th quarter valued at $40,000. Finally, Kapitalo Investimentos Ltda bought a new position in Intercontinental Exchange during the 4th quarter valued at $44,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Performance

Shares of NYSE ICE opened at $172.86 on Wednesday. Intercontinental Exchange, Inc. has a 12-month low of $131.79 and a 12-month high of $179.44. The company has a market cap of $99.16 billion, a PE ratio of 36.16, a P/E/G ratio of 2.10 and a beta of 1.12. The stock has a 50 day simple moving average of $167.03 and a 200-day simple moving average of $161.07. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.63.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, May 1st. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.70 by $0.02. Intercontinental Exchange had a return on equity of 12.95% and a net margin of 23.42%. The company had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.44 billion. During the same quarter in the previous year, the firm posted $1.48 EPS. The firm’s quarterly revenue was up 8.0% on a year-over-year basis. On average, equities research analysts forecast that Intercontinental Exchange, Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.11%. Intercontinental Exchange’s payout ratio is currently 39.75%.

Wall Street Analysts Forecast Growth

ICE has been the topic of a number of recent analyst reports. UBS Group upped their target price on shares of Intercontinental Exchange from $185.00 to $195.00 and gave the company a “buy” rating in a research note on Friday, February 7th. JPMorgan Chase & Co. cut their price objective on Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Barclays increased their target price on Intercontinental Exchange from $189.00 to $198.00 and gave the stock an “overweight” rating in a report on Friday, May 2nd. Keefe, Bruyette & Woods lifted their price objective on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the stock an “outperform” rating in a report on Friday, May 2nd. Finally, StockNews.com raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Monday, February 10th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $185.93.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, President Benjamin Jackson sold 7,900 shares of the company’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $171.43, for a total value of $1,354,297.00. Following the completion of the sale, the president now directly owns 147,274 shares of the company’s stock, valued at approximately $25,247,181.82. This represents a 5.09% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Judith A. Sprieser sold 2,630 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $159.00, for a total transaction of $418,170.00. Following the completion of the transaction, the director now directly owns 21,364 shares in the company, valued at $3,396,876. This represents a 10.96% decrease in their position. The disclosure for this sale can be found here. Insiders sold 42,368 shares of company stock worth $7,077,789 in the last 90 days. Corporate insiders own 1.00% of the company’s stock.

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.