Ritholtz Wealth Management Sells 10,204 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Posted by Defense World Staff on Mar 30th, 2023

Ritholtz Wealth Management decreased its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE – Get Rating) by 76.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 3,084 shares of the financial services provider’s stock after selling 10,204 shares during the period. Ritholtz Wealth Management’s holdings in Intercontinental Exchange were worth $316,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Raymond James & Associates increased its position in shares of Intercontinental Exchange by 6.5% in the 3rd quarter. Raymond James & Associates now owns 1,781,186 shares of the financial services provider’s stock valued at $160,933,000 after buying an additional 108,815 shares in the last quarter. Buttonwood Financial Advisors Inc. bought a new stake in shares of Intercontinental Exchange in the 3rd quarter valued at $640,000. IFP Advisors Inc increased its position in shares of Intercontinental Exchange by 10.2% in the 3rd quarter. IFP Advisors Inc now owns 14,585 shares of the financial services provider’s stock valued at $1,119,000 after buying an additional 1,353 shares in the last quarter. American National Bank bought a new stake in shares of Intercontinental Exchange in the 3rd quarter valued at $61,000. Finally, Brinker Capital Investments LLC increased its position in shares of Intercontinental Exchange by 8.9% in the 3rd quarter. Brinker Capital Investments LLC now owns 45,614 shares of the financial services provider’s stock valued at $4,121,000 after buying an additional 3,741 shares in the last quarter. Institutional investors own 87.28% of the company’s stock.

Insider Transactions at Intercontinental Exchange

In related news, SVP Douglas Foley sold 1,600 shares of the firm’s stock in a transaction dated Thursday, February 23rd. The shares were sold at an average price of $104.80, for a total value of $167,680.00. Following the completion of the sale, the senior vice president now directly owns 21,481 shares in the company, valued at approximately $2,251,208.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Jeffrey C. Sprecher sold 81,827 shares of the firm’s stock in a transaction dated Wednesday, February 22nd. The shares were sold at an average price of $104.02, for a total value of $8,511,644.54. Following the completion of the sale, the chief executive officer now directly owns 1,203,104 shares in the company, valued at approximately $125,146,878.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Douglas Foley sold 1,600 shares of the firm’s stock in a transaction dated Thursday, February 23rd. The shares were sold at an average price of $104.80, for a total transaction of $167,680.00. Following the completion of the sale, the senior vice president now owns 21,481 shares of the company’s stock, valued at $2,251,208.80. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. TheStreet upgraded shares of Intercontinental Exchange from a “c+” rating to a “b-” rating in a research report on Wednesday, January 25th. Keefe, Bruyette & Woods lowered their target price on Intercontinental Exchange from $125.00 to $122.00 and set a “market perform” rating for the company in a report on Wednesday, March 1st. StockNews.com initiated coverage on Intercontinental Exchange in a report on Thursday, March 16th. They set a “hold” rating for the company. Morgan Stanley increased their target price on Intercontinental Exchange from $116.00 to $120.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 11th. Finally, Rosenblatt Securities increased their target price on Intercontinental Exchange from $164.00 to $168.00 and gave the stock a “buy” rating in a report on Friday, February 3rd. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $129.91.

Intercontinental Exchange Trading Up 2.6 %

Intercontinental Exchange stock opened at $101.67 on Thursday. The firm has a 50-day moving average of $103.79 and a 200-day moving average of $101.26. Intercontinental Exchange, Inc. has a one year low of $88.60 and a one year high of $136.04. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.05 and a quick ratio of 1.05. The company has a market cap of $56.82 billion, a price-to-earnings ratio of 39.56, a P/E/G ratio of 3.35 and a beta of 0.92.

Intercontinental Exchange (NYSE:ICE – Get Rating) last posted its quarterly earnings data on Thursday, February 2nd. The financial services provider reported $1.25 EPS for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.01). Intercontinental Exchange had a return on equity of 13.11% and a net margin of 15.01%. The business had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.78 billion. During the same quarter in the prior year, the company earned $1.34 earnings per share. The company’s quarterly revenue was down 3.9% on a year-over-year basis. On average, equities analysts expect that Intercontinental Exchange, Inc. will post 5.4 earnings per share for the current fiscal year.

Intercontinental Exchange Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Friday, March 17th will be paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.65%. This is an increase from Intercontinental Exchange’s previous quarterly dividend of $0.38. The ex-dividend date is Thursday, March 16th. Intercontinental Exchange’s dividend payout ratio is currently 65.37%.

Intercontinental Exchange Company Profile

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Intercontinental Exchange, Inc engages in the provision of market infrastructure, data services and technology solutions. It operates through the following segments: Exchanges, Fixed Income and Data Services, and Mortgage Technology. The Exchanges segment includes trading and listing revenue from the global futures network, the New York Stock Exchange and other registered securities exchanges.