Moss Adams Wealth Advisors LLC Raises Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Moss Adams Wealth Advisors LLC increased its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 5.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,114 shares of the financial services provider’s stock after acquiring an additional 220 shares during the quarter. Moss Adams Wealth Advisors LLC’s holdings in Intercontinental Exchange were worth $528,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Commonwealth Equity Services LLC raised its holdings in Intercontinental Exchange by 4.3% during the third quarter. Commonwealth Equity Services LLC now owns 41,212 shares of the financial services provider’s stock worth $4,534,000 after purchasing an additional 1,716 shares in the last quarter. Concord Wealth Partners lifted its position in shares of Intercontinental Exchange by 622.5% in the third quarter. Concord Wealth Partners now owns 1,640 shares of the financial services provider’s stock worth $180,000 after buying an additional 1,413 shares during the last quarter. Lindbrook Capital LLC boosted its holdings in shares of Intercontinental Exchange by 11.4% during the 3rd quarter. Lindbrook Capital LLC now owns 1,459 shares of the financial services provider’s stock worth $161,000 after buying an additional 149 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Intercontinental Exchange by 11.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 215,422 shares of the financial services provider’s stock worth $23,701,000 after buying an additional 21,827 shares during the period. Finally, BluePath Capital Management LLC bought a new stake in shares of Intercontinental Exchange in the third quarter valued at about $140,000. Institutional investors own 89.30% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on ICE. Morgan Stanley boosted their price objective on shares of Intercontinental Exchange from $139.00 to $142.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. StockNews.com lowered Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Friday, May 3rd. Rosenblatt Securities restated a “buy” rating and set a $164.00 target price on shares of Intercontinental Exchange in a research note on Friday, May 3rd. Piper Sandler increased their price target on Intercontinental Exchange from $135.00 to $149.00 and gave the company an “overweight” rating in a research note on Monday, February 12th. Finally, Citigroup upped their target price on Intercontinental Exchange from $155.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, April 4th. One research analyst has rated the stock with a sell rating, two have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $147.92.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, CFO Warren Gardiner sold 2,176 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $136.00, for a total value of $295,936.00. Following the sale, the chief financial officer now owns 12,061 shares of the company’s stock, valued at $1,640,296. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Intercontinental Exchange news, CFO Warren Gardiner sold 2,176 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $136.00, for a total transaction of $295,936.00. Following the completion of the sale, the chief financial officer now directly owns 12,061 shares in the company, valued at $1,640,296. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Elizabeth Kathryn King sold 3,783 shares of Intercontinental Exchange stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $132.03, for a total value of $499,469.49. Following the sale, the insider now directly owns 17,242 shares in the company, valued at $2,276,461.26. The disclosure for this sale can be found here. Insiders sold 157,832 shares of company stock worth $21,499,127 over the last 90 days. 1.10% of the stock is currently owned by insiders.

Intercontinental Exchange Stock Performance

Shares of ICE traded down $0.33 during trading hours on Wednesday, hitting $133.39. The stock had a trading volume of 1,397,428 shares, compared to its average volume of 2,406,588. Intercontinental Exchange, Inc. has a fifty-two week low of $103.81 and a fifty-two week high of $140.43. The firm has a market capitalization of $76.51 billion, a price-to-earnings ratio of 30.59, a PEG ratio of 2.14 and a beta of 1.02. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a 50-day moving average price of $134.78 and a 200 day moving average price of $126.35.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $1.48 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.48. The firm had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.31 billion. Intercontinental Exchange had a return on equity of 12.76% and a net margin of 24.24%. The company’s quarterly revenue was up 20.8% on a year-over-year basis. During the same period last year, the company earned $1.41 EPS. As a group, research analysts anticipate that Intercontinental Exchange, Inc. will post 5.95 EPS for the current year.

Intercontinental Exchange Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Thursday, June 13th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.35%. Intercontinental Exchange’s payout ratio is 41.28%.

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.