RMR Wealth Builders Sells 232 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

RMR Wealth Builders trimmed its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 3.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,904 shares of the financial services provider’s stock after selling 232 shares during the period. RMR Wealth Builders’ holdings in Intercontinental Exchange were worth $887,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Fortitude Family Office LLC bought a new position in shares of Intercontinental Exchange in the 4th quarter valued at about $28,000. Stuart Chaussee & Associates Inc. bought a new position in Intercontinental Exchange in the fourth quarter valued at approximately $28,000. Jones Financial Companies Lllp acquired a new position in shares of Intercontinental Exchange during the 3rd quarter worth approximately $26,000. OFI Invest Asset Management acquired a new position in shares of Intercontinental Exchange during the 3rd quarter worth approximately $25,000. Finally, BKM Wealth Management LLC acquired a new stake in shares of Intercontinental Exchange in the 4th quarter valued at approximately $31,000. 89.30% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 341 shares of Intercontinental Exchange stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $131.74, for a total value of $44,923.34. Following the transaction, the general counsel now owns 48,713 shares in the company, valued at $6,417,450.62. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, General Counsel Andrew J. Surdykowski sold 341 shares of the stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $131.74, for a total value of $44,923.34. Following the completion of the transaction, the general counsel now owns 48,713 shares of the company’s stock, valued at approximately $6,417,450.62. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Warren Gardiner sold 500 shares of the company’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $138.83, for a total transaction of $69,415.00. Following the transaction, the chief financial officer now owns 18,326 shares of the company’s stock, valued at $2,544,198.58. The disclosure for this sale can be found here. Insiders sold a total of 157,832 shares of company stock worth $21,499,127 in the last ninety days. 1.10% of the stock is owned by insiders.

Intercontinental Exchange Price Performance

ICE traded down $0.33 on Wednesday, hitting $133.39. 1,397,428 shares of the stock were exchanged, compared to its average volume of 2,406,588. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.01 and a quick ratio of 1.01. Intercontinental Exchange, Inc. has a 12 month low of $103.81 and a 12 month 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 business has a 50-day moving average of $134.78 and a two-hundred day moving average of $126.35.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $1.48 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.48. Intercontinental Exchange had a net margin of 24.24% and a return on equity of 12.76%. The business had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.31 billion. During the same period last year, the firm posted $1.41 earnings per share. The firm’s quarterly revenue was up 20.8% compared to the same quarter last year. Sell-side analysts forecast that Intercontinental Exchange, Inc. will post 5.95 EPS for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Thursday, June 13th will be issued a dividend of $0.45 per share. 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 dividend payout ratio (DPR) is currently 41.28%.

Wall Street Analyst Weigh In

ICE has been the subject of a number of analyst reports. UBS Group lifted their price objective on shares of Intercontinental Exchange from $145.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, February 12th. Citigroup upped their price objective on Intercontinental Exchange from $155.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. Piper Sandler raised their price objective on Intercontinental Exchange from $135.00 to $149.00 and gave the company an “overweight” rating in a research report on Monday, February 12th. Rosenblatt Securities reaffirmed a “buy” rating and set a $164.00 price target on shares of Intercontinental Exchange in a report on Friday, May 3rd. Finally, Bank of America decreased their price objective on shares of Intercontinental Exchange from $156.00 to $153.00 and set a “buy” rating on the stock in a report on Friday, April 19th. One analyst has rated the stock with a sell rating, two have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Intercontinental Exchange currently has an average rating of “Moderate Buy” and a consensus price target of $147.92.

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.