Oak Harbor Wealth Partners LLC Lowers Stock Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Oak Harbor Wealth Partners LLC decreased its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 3.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,012 shares of the financial services provider’s stock after selling 181 shares during the period. Oak Harbor Wealth Partners LLC’s holdings in Intercontinental Exchange were worth $805,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in ICE. Wolff Wiese Magana LLC increased its holdings in shares of Intercontinental Exchange by 1,470.0% in the third quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock worth $25,000 after buying an additional 147 shares during the period. Northwest Investment Counselors LLC purchased a new position in shares of Intercontinental Exchange in the third quarter worth about $26,000. Financial Management Professionals Inc. increased its holdings in shares of Intercontinental Exchange by 106.1% in the third quarter. Financial Management Professionals Inc. now owns 169 shares of the financial services provider’s stock worth $27,000 after buying an additional 87 shares during the period. Fairscale Capital LLC purchased a new position in shares of Intercontinental Exchange in the second quarter worth about $25,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of Intercontinental Exchange in the third quarter worth about $29,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Raymond James cut Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 target price on the stock. in a research note on Monday, October 14th. TD Cowen assumed coverage on Intercontinental Exchange in a research note on Thursday, September 26th. They issued a “buy” rating and a $182.00 target price on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 target price on shares of Intercontinental Exchange in a research note on Friday, November 1st. Barclays cut their target price on Intercontinental Exchange from $179.00 to $173.00 and set an “overweight” rating on the stock in a research note on Friday, November 1st. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Intercontinental Exchange from $160.00 to $163.00 and gave the company a “hold” rating in a research report on Monday. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $174.13.

Intercontinental Exchange Stock Performance

Shares of ICE opened at $156.48 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.68. The business’s 50 day moving average price is $161.20 and its 200-day moving average price is $149.70. Intercontinental Exchange, Inc. has a 52 week low of $110.11 and a 52 week high of $167.99. The stock has a market cap of $89.85 billion, a P/E ratio of 37.08, a P/E/G ratio of 2.57 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, October 31st. The financial services provider reported $1.55 EPS for the quarter, hitting analysts’ consensus estimates of $1.55. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The firm had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.35 billion. During the same period in the previous year, the firm posted $1.46 EPS. The business’s revenue for the quarter was up 17.3% compared to the same quarter last year. Equities research analysts anticipate that Intercontinental Exchange, Inc. will post 6.07 earnings per share for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be given a $0.45 dividend. The ex-dividend date is Monday, December 16th. This represents a $1.80 annualized dividend and a yield of 1.15%. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 42.65%.

Insider Activity at Intercontinental Exchange

In related news, insider Christopher Scott Edmonds sold 602 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $162.81, for a total value of $98,011.62. Following the transaction, the insider now directly owns 14,034 shares of the company’s stock, valued at approximately $2,284,875.54. This represents a 4.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO James W. Namkung sold 1,171 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $160.00, for a total value of $187,360.00. Following the completion of the transaction, the chief accounting officer now directly owns 16,665 shares in the company, valued at $2,666,400. This trade represents a 6.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,489 shares of company stock valued at $1,202,259. 1.10% of the stock is owned by corporate insiders.

About Intercontinental Exchange

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.