AE Wealth Management LLC Has $5.14 Million Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Posted by Defense World Staff on Apr 18th, 2023

AE Wealth Management LLC increased its holdings in Intercontinental Exchange, Inc. (NYSE:ICE – Get Rating) by 23.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,089 shares of the financial services provider’s stock after acquiring an additional 9,653 shares during the period. AE Wealth Management LLC’s holdings in Intercontinental Exchange were worth $5,139,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. MADDEN SECURITIES Corp acquired a new stake in shares of Intercontinental Exchange in the 4th quarter worth about $26,000. Cowa LLC purchased a new stake in Intercontinental Exchange in the 3rd quarter valued at about $27,000. Concord Wealth Partners purchased a new stake in Intercontinental Exchange in the 4th quarter valued at about $27,000. WASHINGTON TRUST Co increased its stake in Intercontinental Exchange by 173.9% in the 3rd quarter. WASHINGTON TRUST Co now owns 315 shares of the financial services provider’s stock valued at $28,000 after buying an additional 200 shares during the last quarter. Finally, Evoke Wealth LLC increased its stake in Intercontinental Exchange by 53.8% in the 3rd quarter. Evoke Wealth LLC now owns 346 shares of the financial services provider’s stock valued at $31,000 after buying an additional 121 shares during the last quarter. Institutional investors and hedge funds own 87.28% of the company’s stock.

Insider Activity

In other news, SVP Douglas Foley sold 1,600 shares of the business’s stock in a transaction 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 completion of the transaction, the senior vice president now directly owns 21,481 shares in the company, valued at approximately $2,251,208.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Douglas Foley sold 1,600 shares of the business’s stock in a transaction 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 completion of the transaction, the senior vice president now directly owns 21,481 shares in the company, valued at approximately $2,251,208.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jeffrey C. Sprecher sold 81,827 shares of the business’s stock in a transaction on Wednesday, February 22nd. The shares were sold at an average price of $104.02, for a total transaction of $8,511,644.54. Following the transaction, the chief executive officer now owns 1,203,104 shares of the company’s stock, valued at $125,146,878.08. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.

Intercontinental Exchange Stock Up 0.4 %

ICE opened at $107.99 on Tuesday. The company has a 50 day moving average of $103.47 and a 200 day moving average of $102.17. The company has a market cap of $60.44 billion, a PE ratio of 42.02, a price-to-earnings-growth ratio of 2.04 and a beta of 0.92. Intercontinental Exchange, Inc. has a 12 month low of $88.60 and a 12 month high of $125.36. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.80.

Intercontinental Exchange (NYSE:ICE – Get Rating) last released its quarterly earnings data on Thursday, February 2nd. The financial services provider reported $1.25 EPS for the quarter, missing the consensus estimate of $1.26 by ($0.01). The business had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.78 billion. Intercontinental Exchange had a return on equity of 13.11% and a net margin of 15.01%. The firm’s quarterly revenue was down 3.9% on a year-over-year basis. During the same period last year, the business posted $1.34 earnings per share. On average, sell-side analysts expect that Intercontinental Exchange, Inc. will post 5.46 EPS for the current year.

Intercontinental Exchange Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 31st. Stockholders of record on Friday, March 17th were given a dividend of $0.42 per share. This is a positive change from Intercontinental Exchange’s previous quarterly dividend of $0.38. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date was Thursday, March 16th. Intercontinental Exchange’s payout ratio is 65.37%.

Analysts Set New Price Targets

ICE has been the subject of several analyst reports. UBS Group increased their price objective on shares of Intercontinental Exchange from $119.00 to $130.00 and gave the company a “buy” rating in a research note on Thursday, April 6th. Raymond James increased their price objective on shares of Intercontinental Exchange from $126.00 to $127.00 and gave the company a “strong-buy” rating in a research note on Thursday, April 6th. Morgan Stanley increased their target price on shares of Intercontinental Exchange from $120.00 to $123.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 11th. Rosenblatt Securities reissued a “buy” rating and set a $168.00 target price on shares of Intercontinental Exchange in a research report on Thursday, April 6th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of Intercontinental Exchange from $134.00 to $131.00 in a research report on Wednesday, January 11th. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.