Concord Wealth Partners Takes $27,000 Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Posted by Defense World Staff on Apr 15th, 2023

Concord Wealth Partners bought a new position in shares of Intercontinental Exchange, Inc. (NYSE:ICE – Get Rating) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 260 shares of the financial services provider’s stock, valued at approximately $27,000.

Several other large investors have also added to or reduced their stakes in ICE. MADDEN SECURITIES Corp bought a new position in shares of Intercontinental Exchange during the 4th quarter worth approximately $26,000. Cowa LLC acquired a new position in shares of Intercontinental Exchange during the 3rd quarter valued at $27,000. WASHINGTON TRUST Co boosted its stake in Intercontinental Exchange by 173.9% during the third quarter. WASHINGTON TRUST Co now owns 315 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 200 shares in the last quarter. Evoke Wealth LLC grew its holdings in Intercontinental Exchange by 53.8% in the third quarter. Evoke Wealth LLC now owns 346 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 121 shares during the period. Finally, MinichMacGregor Wealth Management LLC bought a new stake in Intercontinental Exchange in the fourth quarter valued at $32,000. Institutional investors and hedge funds own 87.28% of the company’s stock.

Insider Buying and Selling at Intercontinental Exchange

In other news, SVP Douglas Foley sold 1,600 shares of the 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 sale, the senior vice president now directly owns 21,481 shares of the company’s stock, valued at $2,251,208.80. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, SVP Douglas Foley sold 1,600 shares of the company’s stock in a transaction that occurred on Thursday, February 23rd. The shares were sold at an average price of $104.80, for a total transaction of $167,680.00. Following the sale, the senior vice president now owns 21,481 shares of the company’s stock, valued at approximately $2,251,208.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jeffrey C. Sprecher sold 81,827 shares of the stock in a transaction that occurred on Wednesday, February 22nd. The stock was sold at an average price of $104.02, for a total transaction of $8,511,644.54. Following the completion of the sale, the chief executive officer now owns 1,203,104 shares in the company, valued at $125,146,878.08. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

Intercontinental Exchange Price Performance

ICE opened at $107.51 on Friday. Intercontinental Exchange, Inc. has a 12 month low of $88.60 and a 12 month high of $125.36. The company has a market cap of $60.17 billion, a PE ratio of 41.83, a price-to-earnings-growth ratio of 2.04 and a beta of 0.92. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.80. The company has a 50 day moving average of $103.47 and a 200 day moving average of $102.03.

Intercontinental Exchange (NYSE:ICE – Get Rating) last posted its earnings results on Thursday, February 2nd. The financial services provider reported $1.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.26 by ($0.01). The company had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.78 billion. Intercontinental Exchange had a return on equity of 13.11% and a net margin of 15.01%. The company’s revenue was down 3.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.34 EPS. On average, sell-side analysts expect that Intercontinental Exchange, Inc. will post 5.48 EPS for the current year.

Intercontinental Exchange Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 31st. Shareholders of record on Friday, March 17th were paid a $0.42 dividend. The ex-dividend date was Thursday, March 16th. This represents a $1.68 annualized dividend and a yield of 1.56%. This is an increase from Intercontinental Exchange’s previous quarterly dividend of $0.38. Intercontinental Exchange’s dividend payout ratio (DPR) is currently 65.37%.

Analyst Ratings Changes

ICE has been the topic of a number of research analyst reports. Rosenblatt Securities reissued a “buy” rating and set a $168.00 price objective on shares of Intercontinental Exchange in a research report on Thursday, April 6th. StockNews.com started coverage on Intercontinental Exchange in a research note on Thursday, March 16th. They issued a “hold” rating for the company. UBS Group upped their target price on Intercontinental Exchange from $119.00 to $130.00 and gave the stock a “buy” rating in a research report on Thursday, April 6th. TheStreet raised shares of Intercontinental Exchange from a “c+” rating to a “b-” rating in a research report on Wednesday, January 25th. Finally, Morgan Stanley boosted their price target on shares of Intercontinental Exchange from $120.00 to $123.00 and gave the company an “equal weight” rating in a research note on Tuesday. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Intercontinental Exchange has an average rating of “Moderate Buy” and an average target price of $131.55.

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.