Axxcess Wealth Management LLC Cuts Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

Axxcess Wealth Management LLC cut its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 10.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,606 shares of the financial services provider’s stock after selling 1,203 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Intercontinental Exchange were worth $1,362,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in ICE. OFI Invest Asset Management purchased a new stake in shares of Intercontinental Exchange during the third quarter valued at $25,000. Jones Financial Companies Lllp acquired a new stake in shares of Intercontinental Exchange during the 3rd quarter valued at about $26,000. Fortitude Family Office LLC purchased a new position in shares of Intercontinental Exchange in the 4th quarter valued at about $28,000. Stuart Chaussee & Associates Inc. acquired a new position in Intercontinental Exchange in the 4th quarter worth about $28,000. Finally, BKM Wealth Management LLC purchased a new position in Intercontinental Exchange during the fourth quarter worth approximately $31,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

Intercontinental Exchange Stock Performance

Shares of NYSE ICE opened at $130.50 on Monday. The company has a market cap of $74.85 billion, a PE ratio of 29.93, a price-to-earnings-growth ratio of 2.14 and a beta of 1.02. Intercontinental Exchange, Inc. has a 12 month low of $103.81 and a 12 month high of $140.43. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.01 and a quick ratio of 1.01. The company has a 50-day simple moving average of $135.01 and a 200-day simple moving average of $126.02.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $1.48 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.48. Intercontinental Exchange had a net margin of 24.24% and a return on equity of 12.76%. The company had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same period in the previous year, the firm earned $1.41 earnings per share. Intercontinental Exchange’s revenue for the quarter was up 20.8% on a year-over-year basis. On average, equities analysts anticipate that Intercontinental Exchange, Inc. will post 5.95 earnings per share for the current year.

Intercontinental Exchange Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Thursday, June 13th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $1.80 annualized dividend and a yield of 1.38%. Intercontinental Exchange’s payout ratio is 41.28%.

Insider Transactions at Intercontinental Exchange

In other news, General Counsel Andrew J. Surdykowski sold 341 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $131.74, for a total transaction of $44,923.34. Following the completion of the transaction, the general counsel now directly owns 48,713 shares in the company, valued at $6,417,450.62. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Intercontinental Exchange news, insider Elizabeth Kathryn King sold 3,783 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $132.03, for a total value of $499,469.49. Following the completion of the sale, the insider now directly owns 17,242 shares in the company, valued at $2,276,461.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 341 shares of the stock in a transaction on Friday, April 26th. The shares were sold at an average price of $131.74, for a total value of $44,923.34. Following the sale, the general counsel now owns 48,713 shares of the company’s stock, valued at approximately $6,417,450.62. The disclosure for this sale can be found here. Over the last quarter, insiders sold 157,832 shares of company stock worth $21,499,127. Insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

ICE has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods reduced their target price on Intercontinental Exchange from $156.00 to $155.00 and set an “outperform” rating for the company in a report on Friday. Citigroup increased their price objective on Intercontinental Exchange from $155.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, April 4th. Piper Sandler raised their price target on Intercontinental Exchange from $135.00 to $149.00 and gave the stock an “overweight” rating in a research report on Monday, February 12th. Barclays reduced their price objective on Intercontinental Exchange from $155.00 to $150.00 and set an “overweight” rating on the stock in a research note on Friday. Finally, Morgan Stanley increased their price objective on Intercontinental Exchange from $139.00 to $142.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, two have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Intercontinental Exchange has a consensus rating of “Moderate Buy” and an average target price of $147.92.

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.