Legacy Capital Wealth Partners LLC Takes $427,000 Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Legacy Capital Wealth Partners LLC acquired a new position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,660 shares of the financial services provider’s stock, valued at approximately $427,000.

Several other institutional investors have also recently modified their holdings of the stock. Wolff Wiese Magana LLC raised its holdings in shares of Intercontinental Exchange by 1,470.0% in the third quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 147 shares during the last quarter. Northwest Investment Counselors LLC purchased a new stake in Intercontinental Exchange during the 3rd quarter worth about $26,000. Financial Management Professionals Inc. raised its stake in Intercontinental Exchange by 106.1% in the 3rd quarter. Financial Management Professionals Inc. now owns 169 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 87 shares during the last quarter. Fairscale Capital LLC purchased a new position in Intercontinental Exchange in the 2nd quarter valued at about $25,000. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Intercontinental Exchange during the 3rd quarter worth about $29,000. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Intercontinental Exchange Stock Performance

Intercontinental Exchange stock opened at $156.42 on Monday. Intercontinental Exchange, Inc. has a 12-month low of $108.44 and a 12-month high of $167.99. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.00 and a quick ratio of 1.00. The company has a market capitalization of $89.81 billion, a price-to-earnings ratio of 37.07, a price-to-earnings-growth ratio of 2.61 and a beta of 1.08. The firm’s fifty day moving average price is $161.52 and its 200 day moving average price is $149.19.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.55. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The business had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same period in the previous year, the company earned $1.46 earnings per share. The company’s revenue for the quarter was up 17.3% compared to the same quarter last year. On average, research analysts forecast that Intercontinental Exchange, Inc. will post 6.07 EPS for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.80 annualized dividend and a yield of 1.15%. Intercontinental Exchange’s dividend payout ratio is presently 42.65%.

Insider Buying and Selling at Intercontinental Exchange

In other news, Director Martha A. Tirinnanzi sold 509 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $158.98, for a total transaction of $80,920.82. Following the completion of the sale, the director now owns 3,958 shares of the company’s stock, valued at approximately $629,242.84. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Intercontinental Exchange news, CFO Warren Gardiner sold 750 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $161.43, for a total transaction of $121,072.50. Following the transaction, the chief financial officer now owns 16,576 shares of the company’s stock, valued at $2,675,863.68. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Martha A. Tirinnanzi sold 509 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $158.98, for a total value of $80,920.82. Following the completion of the sale, the director now owns 3,958 shares of the company’s stock, valued at $629,242.84. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,489 shares of company stock valued at $1,202,259 in the last three months. Corporate insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on ICE. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $168.00 price objective on shares of Intercontinental Exchange in a research report on Tuesday, August 6th. TD Cowen initiated coverage on Intercontinental Exchange in a research report on Thursday, September 26th. They set a “buy” rating and a $182.00 target price on the stock. Barclays cut their price target on shares of Intercontinental Exchange from $179.00 to $173.00 and set an “overweight” rating on the stock in a research note on Friday, November 1st. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Intercontinental Exchange from $169.00 to $160.00 and set a “hold” rating for the company in a research note on Friday, November 1st. Finally, Piper Sandler lifted their target price on Intercontinental Exchange from $170.00 to $180.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $173.93.

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.