Drive Wealth Management LLC Invests $203,000 in Intercontinental Exchange, Inc. (NYSE:ICE)

Drive Wealth Management LLC bought a new position in Intercontinental Exchange, Inc. (NYSE:ICEFree Report) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,578 shares of the financial services provider’s stock, valued at approximately $203,000.

Several other large investors have also recently made changes to their positions in ICE. Wellington Management Group LLP increased its holdings in shares of Intercontinental Exchange by 219.8% in the third quarter. Wellington Management Group LLP now owns 12,146,620 shares of the financial services provider’s stock worth $1,336,371,000 after purchasing an additional 8,348,126 shares during the last quarter. Norges Bank bought a new stake in shares of Intercontinental Exchange in the fourth quarter worth about $579,605,000. T. Rowe Price Investment Management Inc. increased its holdings in shares of Intercontinental Exchange by 45.5% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 17,114,267 shares of the financial services provider’s stock worth $1,755,753,000 after purchasing an additional 5,354,161 shares during the last quarter. Morgan Stanley increased its holdings in shares of Intercontinental Exchange by 18.9% in the fourth quarter. Morgan Stanley now owns 25,406,629 shares of the financial services provider’s stock worth $2,606,466,000 after purchasing an additional 4,044,744 shares during the last quarter. Finally, Third Point LLC bought a new stake in Intercontinental Exchange during the second quarter worth approximately $209,198,000. 89.30% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ICE has been the topic of several analyst reports. JPMorgan Chase & Co. boosted their price objective on Intercontinental Exchange from $142.00 to $151.00 and gave the stock an “overweight” rating in a research note on Friday, February 9th. Raymond James boosted their price objective on Intercontinental Exchange from $135.00 to $145.00 and gave the stock a “strong-buy” rating in a research note on Friday, January 5th. Citigroup boosted their price objective on Intercontinental Exchange from $146.00 to $155.00 and gave the stock a “buy” rating in a research note on Tuesday, February 13th. StockNews.com upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Wednesday, February 14th. Finally, Barclays boosted their target price on Intercontinental Exchange from $148.00 to $153.00 and gave the company an “overweight” rating in a research report on Monday, February 12th. Three analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $145.83.

Check Out Our Latest Analysis on ICE

Intercontinental Exchange Stock Performance

Shares of ICE stock opened at $137.50 on Wednesday. The business’s fifty day simple moving average is $134.83 and its 200-day simple moving average is $122.40. The company has a market cap of $78.74 billion, a PE ratio of 32.74, a PEG ratio of 2.44 and a beta of 1.02. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.80. Intercontinental Exchange, Inc. has a 12-month low of $103.81 and a 12-month high of $140.43.

Intercontinental Exchange (NYSE:ICEGet Free Report) last released its earnings results on Thursday, February 8th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.04. Intercontinental Exchange had a return on equity of 12.91% and a net margin of 23.91%. The firm had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.20 billion. During the same period in the prior year, the firm earned $1.25 EPS. The firm’s revenue was up 24.5% on a year-over-year basis. Analysts expect that Intercontinental Exchange, Inc. will post 5.93 earnings per share for the current fiscal year.

Intercontinental Exchange Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.31%. This is a positive change from Intercontinental Exchange’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Thursday, March 14th. Intercontinental Exchange’s dividend payout ratio is presently 42.86%.

Insider Transactions at Intercontinental Exchange

In other news, Director Judith A. Sprieser sold 2,238 shares of the stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $137.36, for a total transaction of $307,411.68. Following the sale, the director now directly owns 29,347 shares of the company’s stock, valued at approximately $4,031,103.92. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Judith A. Sprieser sold 2,238 shares of the firm’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $137.36, for a total value of $307,411.68. Following the transaction, the director now directly owns 29,347 shares of the company’s stock, valued at approximately $4,031,103.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, President Benjamin Jackson sold 27,970 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $134.74, for a total transaction of $3,768,677.80. Following the completion of the transaction, the president now directly owns 138,487 shares in the company, valued at $18,659,738.38. The disclosure for this sale can be found here. Insiders have sold a total of 157,491 shares of company stock valued at $20,793,835 in the last ninety days. 1.10% of the stock is currently owned by corporate insiders.

Intercontinental Exchange Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Intercontinental Exchange (NYSE:ICE)

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