Ritholtz Wealth Management Acquires 2,732 Shares of Intercontinental Exchange Inc. (NYSE:ICE)

Ritholtz Wealth Management boosted its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 52.3% during the 1st quarter, Holdings Channel reports. The fund owned 7,953 shares of the financial services provider’s stock after buying an additional 2,732 shares during the period. Ritholtz Wealth Management’s holdings in Intercontinental Exchange were worth $1,372,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ICE. Brighton Jones LLC grew its holdings in Intercontinental Exchange by 51.3% during the 4th quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider’s stock worth $514,000 after acquiring an additional 1,169 shares in the last quarter. Sierra Ocean LLC purchased a new stake in Intercontinental Exchange during the fourth quarter valued at approximately $25,000. Strategic Advisors LLC boosted its stake in Intercontinental Exchange by 5.1% in the fourth quarter. Strategic Advisors LLC now owns 1,349 shares of the financial services provider’s stock valued at $201,000 after acquiring an additional 66 shares in the last quarter. Catalyst Capital Advisors LLC boosted its stake in Intercontinental Exchange by 40.8% in the fourth quarter. Catalyst Capital Advisors LLC now owns 1,685 shares of the financial services provider’s stock valued at $251,000 after acquiring an additional 488 shares in the last quarter. Finally, CIBC Asset Management Inc grew its holdings in Intercontinental Exchange by 0.8% in the fourth quarter. CIBC Asset Management Inc now owns 177,472 shares of the financial services provider’s stock worth $26,436,000 after purchasing an additional 1,485 shares during the last quarter. 89.30% of the stock is currently owned by institutional investors.

Intercontinental Exchange Stock Performance

Shares of Intercontinental Exchange stock opened at $180.97 on Wednesday. Intercontinental Exchange Inc. has a 52 week low of $134.78 and a 52 week high of $181.65. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $103.81 billion, a P/E ratio of 37.47, a PEG ratio of 1.95 and a beta of 1.12. The company has a 50 day moving average price of $171.38 and a 200 day moving average price of $164.33.

Intercontinental Exchange (NYSE:ICE) last posted 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 net margin of 22.84% and a return on equity of 13.27%. The company had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.44 billion. During the same period last year, the firm posted $1.48 EPS. Intercontinental Exchange’s revenue for the quarter was up 8.0% compared to the same quarter last year. Sell-side analysts expect that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 1.06%. Intercontinental Exchange’s dividend payout ratio is presently 39.75%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Morgan Stanley upped their price target on Intercontinental Exchange from $181.00 to $192.00 and gave the stock an “equal weight” rating in a research report on Monday, May 5th. Barclays upped their price target on Intercontinental Exchange from $189.00 to $198.00 and gave the stock an “overweight” rating in a research report on Friday, May 2nd. Keefe, Bruyette & Woods upped their price target on Intercontinental Exchange from $183.00 to $189.00 and gave the stock an “outperform” rating in a research report on Friday, May 2nd. Finally, Bank of America reduced their price target on Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating on the stock in a research report on Wednesday, April 2nd. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $188.46.

Insiders Place Their Bets

In other Intercontinental Exchange news, SVP Douglas Foley sold 1,600 shares of the firm’s stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $177.48, for a total transaction of $283,968.00. Following the completion of the transaction, the senior vice president now directly owns 27,313 shares of the company’s stock, valued at approximately $4,847,511.24. This trade represents a 5.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel Andrew J. Surdykowski sold 3,848 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $179.12, for a total transaction of $689,253.76. Following the transaction, the general counsel now directly owns 48,480 shares of the company’s stock, valued at approximately $8,683,737.60. This trade represents a 7.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 227,954 shares of company stock valued at $40,796,663. 1.00% of the stock is owned by insiders.

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.