Cetera Trust Company N.A Makes New Investment in Intercontinental Exchange, Inc. (NYSE:ICE)

Cetera Trust Company N.A acquired a new stake in Intercontinental Exchange, Inc. (NYSE:ICE) in the 4th quarter, HoldingsChannel.com reports. The fund acquired 450 shares of the financial services provider’s stock, valued at approximately $58,000.

Other institutional investors have also modified their holdings of the company. Fortitude Family Office LLC acquired a new stake in shares of Intercontinental Exchange in the fourth quarter valued at $28,000. Jones Financial Companies Lllp acquired a new stake in shares of Intercontinental Exchange in the third quarter valued at $26,000. OFI Invest Asset Management acquired a new stake in shares of Intercontinental Exchange in the third quarter valued at $25,000. BKM Wealth Management LLC acquired a new stake in shares of Intercontinental Exchange in the fourth quarter valued at $31,000. Finally, Rakuten Securities Inc. acquired a new stake in shares of Intercontinental Exchange in the fourth quarter valued at $39,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Insiders Place Their Bets

In related news, major shareholder Intercontinental Exchange, Inc purchased 2,762,009 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was bought at an average price of $0.87 per share, for a total transaction of $2,402,947.83. Following the purchase, the insider now owns 7,476,345 shares in the company, valued at approximately $6,504,420.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CAO James W. Namkung sold 1,182 shares of the company’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $132.03, for a total transaction of $156,059.46. Following the completion of the sale, the chief accounting officer now owns 16,396 shares in the company, valued at approximately $2,164,763.88. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Intercontinental Exchange, Inc purchased 2,762,009 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were bought at an average price of $0.87 per share, with a total value of $2,402,947.83. Following the purchase, the insider now owns 7,476,345 shares in the company, valued at approximately $6,504,420.15. The disclosure for this purchase can be found here. Insiders have sold a total of 157,491 shares of company stock valued at $21,454,204 in the last three months. Insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

ICE has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. boosted their target price on Intercontinental Exchange from $142.00 to $151.00 and gave the stock an “overweight” rating in a research report on Friday, February 9th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $152.00 target price on shares of Intercontinental Exchange in a research report on Thursday, April 4th. Rosenblatt Securities boosted their target price on Intercontinental Exchange from $154.00 to $164.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. Barclays boosted their target price on Intercontinental Exchange from $153.00 to $155.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Finally, StockNews.com raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Wednesday, February 14th. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $148.08.

Intercontinental Exchange Stock Performance

Shares of ICE stock opened at $131.65 on Tuesday. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.00 and a quick ratio of 1.00. Intercontinental Exchange, Inc. has a fifty-two week low of $103.81 and a fifty-two week high of $140.43. The stock’s 50-day moving average is $136.20 and its two-hundred day moving average is $124.80. The firm has a market cap of $75.39 billion, a P/E ratio of 31.35, a PEG ratio of 2.08 and a beta of 1.02.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, February 8th. The financial services provider reported $1.33 earnings per share for the quarter, topping 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 company had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.20 billion. During the same period in the prior year, the firm posted $1.25 EPS. The business’s revenue was up 24.5% compared to the same quarter last year. Analysts predict that Intercontinental Exchange, Inc. will post 5.98 earnings per share for the current fiscal year.

Intercontinental Exchange Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a $0.45 dividend. This is a positive change from Intercontinental Exchange’s previous quarterly dividend of $0.42. This represents a $1.80 annualized dividend and a yield of 1.37%. The ex-dividend date of this dividend was Thursday, March 14th. Intercontinental Exchange’s dividend payout ratio is presently 42.86%.

Intercontinental Exchange Profile

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.