Pinnacle Wealth Management Advisory Group LLC Invests $289,000 in Intercontinental Exchange, Inc. (NYSE:ICE)

Pinnacle Wealth Management Advisory Group LLC bought a new position in Intercontinental Exchange, Inc. (NYSE:ICE) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 2,251 shares of the financial services provider’s stock, valued at approximately $289,000.

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

Analysts Set New Price Targets

ICE has been the subject of several research reports. Bank of America decreased their price target on shares of Intercontinental Exchange from $156.00 to $153.00 and set a “buy” rating for the company in a research note on Friday, April 19th. JPMorgan Chase & Co. raised their target price on Intercontinental Exchange from $147.00 to $151.00 and gave the stock an “overweight” rating in a research report on Friday, May 3rd. StockNews.com downgraded shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Friday, May 3rd. Morgan Stanley raised their target price on shares of Intercontinental Exchange from $139.00 to $142.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of Intercontinental Exchange from $156.00 to $155.00 and set an “outperform” rating on the stock in a research report on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Intercontinental Exchange presently has an average rating of “Moderate Buy” and a consensus target price of $147.92.

Insider Activity

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 341 shares of Intercontinental Exchange stock in a transaction on Friday, April 26th. The shares were sold at an average price of $131.74, for a total transaction of $44,923.34. Following the completion of the sale, the general counsel now owns 48,713 shares of the company’s stock, valued at approximately $6,417,450.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, major shareholder Intercontinental Exchange, Inc bought 350,880 shares of the stock in a transaction dated Thursday, April 25th. The shares were acquired at an average price of $0.87 per share, with a total value of $305,265.60. Following the acquisition, the insider now owns 649,934 shares in the company, valued at $565,442.58. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Andrew J. Surdykowski sold 341 shares of Intercontinental Exchange stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $131.74, for a total value of $44,923.34. Following the completion of the transaction, the general counsel now directly owns 48,713 shares of the company’s stock, valued at $6,417,450.62. The disclosure for this sale can be found here. In the last 90 days, insiders sold 152,867 shares of company stock worth $20,843,598. Insiders own 1.10% of the company’s stock.

Intercontinental Exchange Price Performance

ICE stock traded up $0.77 during trading on Thursday, hitting $134.16. The stock had a trading volume of 565,547 shares, compared to its average volume of 2,385,685. The stock has a market cap of $76.95 billion, a price-to-earnings ratio of 30.66, a price-to-earnings-growth ratio of 2.14 and a beta of 1.02. The company’s 50 day moving average price is $134.78 and its two-hundred day moving average price is $126.35. Intercontinental Exchange, Inc. has a 1-year low of $103.81 and a 1-year high of $140.43. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.01 and a current ratio of 1.01.

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

Intercontinental Exchange Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Thursday, June 13th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.34%. The ex-dividend date is Thursday, June 13th. Intercontinental Exchange’s dividend payout ratio is presently 41.28%.

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.