Apollon Wealth Management LLC Acquires 6,893 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Apollon Wealth Management LLC lifted its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 99.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,857 shares of the financial services provider’s stock after purchasing an additional 6,893 shares during the quarter. Apollon Wealth Management LLC’s holdings in Intercontinental Exchange were worth $1,780,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of ICE. UNIVEST FINANCIAL Corp raised its holdings in shares of Intercontinental Exchange by 4.2% in the 4th quarter. UNIVEST FINANCIAL Corp now owns 2,230 shares of the financial services provider’s stock valued at $286,000 after purchasing an additional 90 shares in the last quarter. Vinva Investment Management Ltd boosted its position in 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 in the last quarter. Timber Creek Capital Management LLC raised its position in shares of Intercontinental Exchange by 0.3% in the 4th quarter. Timber Creek Capital Management LLC now owns 34,466 shares of the financial services provider’s stock worth $4,426,000 after acquiring an additional 94 shares in the last quarter. HBK Sorce Advisory LLC boosted its position in Intercontinental Exchange by 4.8% during the third quarter. HBK Sorce Advisory LLC now owns 2,116 shares of the financial services provider’s stock valued at $233,000 after purchasing an additional 97 shares in the last quarter. Finally, West Coast Financial LLC boosted its holdings in shares of Intercontinental Exchange by 4.6% in the 4th quarter. West Coast Financial LLC now owns 2,248 shares of the financial services provider’s stock valued at $289,000 after buying an additional 98 shares in the last quarter. 89.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ICE has been the subject of several recent analyst reports. Piper Sandler raised their target price on shares of Intercontinental Exchange from $135.00 to $149.00 and gave the company an “overweight” rating in a research note on Monday, February 12th. JPMorgan Chase & Co. raised their price target on Intercontinental Exchange from $147.00 to $151.00 and gave the stock an “overweight” rating in a report on Friday, May 3rd. Barclays lowered their target price on shares of Intercontinental Exchange from $155.00 to $150.00 and set an “overweight” rating for the company in a research note on Friday, May 3rd. Citigroup lifted 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. Finally, Morgan Stanley lifted their price target on Intercontinental Exchange from $139.00 to $142.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. One equities 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 issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $147.92.

Intercontinental Exchange Price Performance

ICE traded down $0.79 during midday trading on Wednesday, hitting $132.93. 325,650 shares of the company traded hands, compared to its average volume of 2,394,265. The company has a market capitalization of $76.25 billion, a price-to-earnings ratio of 30.67, a PEG ratio of 2.14 and a beta of 1.02. The business has a 50 day simple moving average of $134.78 and a two-hundred day simple moving average of $126.35. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.76. Intercontinental Exchange, Inc. has a 52-week low of $103.81 and a 52-week high of $140.43.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, May 2nd. The financial services provider reported $1.48 EPS for the quarter, meeting analysts’ consensus estimates of $1.48. The business had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.31 billion. Intercontinental Exchange had a return on equity of 12.76% and a net margin of 24.24%. The business’s revenue was up 20.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.41 earnings per share. On average, equities analysts forecast that Intercontinental Exchange, Inc. will post 5.95 earnings per share for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The business 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 $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date of this dividend is Thursday, June 13th. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 41.28%.

Insider Activity

In related news, CAO James W. Namkung sold 1,182 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 $156,059.46. Following the transaction, the chief accounting officer now directly owns 16,396 shares in the company, valued at $2,164,763.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, General Counsel Andrew J. Surdykowski sold 341 shares of the firm’s stock in a transaction dated 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 approximately $6,417,450.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO James W. Namkung sold 1,182 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $132.03, for a total transaction of $156,059.46. Following the completion of the transaction, the chief accounting officer now owns 16,396 shares of the company’s stock, valued at approximately $2,164,763.88. The disclosure for this sale can be found here. In the last quarter, insiders have sold 157,832 shares of company stock valued at $21,499,127. 1.10% of the stock is currently owned by insiders.

Intercontinental Exchange 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.