Janney Montgomery Scott LLC Reduces Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Posted by Defense World Staff on Apr 21st, 2023

Janney Montgomery Scott LLC lowered its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE – Get Rating) by 5.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 57,096 shares of the financial services provider’s stock after selling 3,321 shares during the period. Janney Montgomery Scott LLC’s holdings in Intercontinental Exchange were worth $5,858,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Polaris Wealth Advisory Group LLC purchased a new stake in Intercontinental Exchange during the 4th quarter valued at $736,000. DAVENPORT & Co LLC lifted its position in shares of Intercontinental Exchange by 2.9% in the 4th quarter. DAVENPORT & Co LLC now owns 37,860 shares of the financial services provider’s stock worth $3,884,000 after purchasing an additional 1,056 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its position in shares of Intercontinental Exchange by 21.5% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 4,343 shares of the financial services provider’s stock worth $446,000 after purchasing an additional 769 shares during the period. Comprehensive Financial Consultants Institutional Inc. lifted its position in shares of Intercontinental Exchange by 25.5% in the 4th quarter. Comprehensive Financial Consultants Institutional Inc. now owns 12,113 shares of the financial services provider’s stock worth $1,321,000 after purchasing an additional 2,460 shares during the period. Finally, Raymond James & Associates lifted 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 worth $160,933,000 after purchasing an additional 108,815 shares during the period. Hedge funds and other institutional investors own 87.28% of the company’s stock.

Intercontinental Exchange Stock Down 0.5 %

NYSE:ICE opened at $107.76 on Friday. The firm has a market cap of $60.31 billion, a P/E ratio of 41.93, a P/E/G ratio of 2.20 and a beta of 0.92. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.05 and a current ratio of 1.05. Intercontinental Exchange, Inc. has a fifty-two week low of $88.60 and a fifty-two week high of $124.49. The firm has a 50-day simple moving average of $103.41 and a two-hundred day simple moving average of $102.49.

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

Intercontinental Exchange Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 31st. Stockholders of record on Friday, March 17th were paid a $0.42 dividend. The ex-dividend date was Thursday, March 16th. 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%. Intercontinental Exchange’s payout ratio is currently 65.37%.

Analyst Ratings Changes

Several research firms have recently commented on ICE. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Intercontinental Exchange from $134.00 to $131.00 in a research report on Wednesday, January 11th. UBS Group raised their target price on shares of Intercontinental Exchange from $119.00 to $130.00 and gave the stock a “buy” rating in a research report on Thursday, April 6th. Keefe, Bruyette & Woods lowered their price target on shares of Intercontinental Exchange from $125.00 to $122.00 and set a “market perform” rating for the company in a research report on Wednesday, March 1st. Citigroup lifted their price target on shares of Intercontinental Exchange from $110.00 to $117.00 and gave the company a “neutral” rating in a research report on Friday, February 3rd. Finally, Raymond James lifted their price target on shares of Intercontinental Exchange from $126.00 to $127.00 and gave the company a “strong-buy” rating in a research report on Thursday, April 6th. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $131.55.

Insider Transactions at Intercontinental Exchange

In other news, SVP Douglas Foley sold 1,600 shares of Intercontinental Exchange stock in a transaction that occurred on 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 $2,251,208.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, SVP Douglas Foley sold 1,600 shares of Intercontinental Exchange stock in a transaction that occurred on 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 $2,251,208.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jeffrey C. Sprecher sold 81,827 shares of the business’s stock in a transaction that occurred 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 sale, 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 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.