Sequoia Financial Advisors LLC Increases Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Sequoia Financial Advisors LLC grew its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 110.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,503 shares of the financial services provider’s stock after acquiring an additional 6,044 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Intercontinental Exchange were worth $1,477,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Jefferies Financial Group Inc. boosted its holdings in shares of Intercontinental Exchange by 3.8% during the 2nd quarter. Jefferies Financial Group Inc. now owns 2,432 shares of the financial services provider’s stock valued at $275,000 after acquiring an additional 88 shares during the last quarter. Vinva Investment Management Ltd boosted its holdings in shares of Intercontinental Exchange by 0.6% during the 3rd quarter. Vinva Investment Management Ltd now owns 16,736 shares of the financial services provider’s stock valued at $1,855,000 after acquiring an additional 93 shares during the last quarter. Timber Creek Capital Management LLC boosted its holdings in shares of Intercontinental Exchange by 0.3% during the 4th quarter. Timber Creek Capital Management LLC now owns 34,466 shares of the financial services provider’s stock valued at $4,426,000 after acquiring an additional 94 shares during the last quarter. Vestcor Inc boosted its holdings in shares of Intercontinental Exchange by 0.5% during the 4th quarter. Vestcor Inc now owns 17,924 shares of the financial services provider’s stock valued at $1,839,000 after acquiring an additional 94 shares during the last quarter. Finally, HBK Sorce Advisory LLC boosted its holdings in shares of Intercontinental Exchange by 4.8% during the 3rd quarter. HBK Sorce Advisory LLC now owns 2,116 shares of the financial services provider’s stock valued at $233,000 after acquiring an additional 97 shares during the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, CFO Warren Gardiner sold 500 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $2,544,198.58. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CFO Warren Gardiner sold 500 shares of the firm’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $138.83, for a total value of $69,415.00. Following the completion of the transaction, the chief financial officer now directly owns 18,326 shares of the company’s stock, valued at $2,544,198.58. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Jeffrey C. Sprecher sold 58,388 shares of the firm’s stock in a transaction on Wednesday, April 3rd. The shares were 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 $161,893,392.95. The disclosure for this sale can be found here. Insiders sold a total of 157,491 shares of company stock valued at $21,454,204 in the last three months. 1.10% of the stock is currently owned by corporate insiders.

Intercontinental Exchange Price Performance

NYSE ICE opened at $133.55 on Friday. 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 12 month low of $103.81 and a 12 month high of $140.43. The company’s 50 day moving average is $136.22 and its two-hundred day moving average is $123.78. The stock has a market cap of $76.47 billion, a price-to-earnings ratio of 31.80, a PEG ratio of 2.12 and a beta of 1.02.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data 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 business had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.20 billion. During the same period last year, the firm posted $1.25 EPS. The company’s revenue was up 24.5% on a year-over-year basis. As a group, research analysts anticipate that Intercontinental Exchange, Inc. will post 5.97 earnings per share for the current year.

Intercontinental Exchange Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a dividend of $0.45 per share. This is a positive change from Intercontinental Exchange’s previous quarterly dividend of $0.42. This represents a $1.80 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date of this dividend was Thursday, March 14th. Intercontinental Exchange’s dividend payout ratio (DPR) is 42.86%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ICE. JPMorgan Chase & Co. increased their price objective on shares of Intercontinental Exchange from $142.00 to $151.00 and gave the stock an “overweight” rating in a research note on Friday, February 9th. StockNews.com upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Wednesday, February 14th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $152.00 price objective on shares of Intercontinental Exchange in a research note on Thursday, April 4th. Piper Sandler increased their price objective on shares of Intercontinental Exchange from $135.00 to $149.00 and gave the stock an “overweight” rating in a research note on Monday, February 12th. Finally, Citigroup increased their price objective on shares of Intercontinental Exchange from $155.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, April 4th. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus 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.