Waterfront Wealth Inc. Acquires 264 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Waterfront Wealth Inc. raised its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 2.7% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 10,129 shares of the financial services provider’s stock after purchasing an additional 264 shares during the quarter. Waterfront Wealth Inc.’s holdings in Intercontinental Exchange were worth $1,509,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in ICE. Financial Management Professionals Inc. grew its position in shares of Intercontinental Exchange by 106.1% during the 3rd 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. Sierra Ocean LLC bought a new position in Intercontinental Exchange during the 4th quarter valued at $25,000. Capital Performance Advisors LLP bought a new position in Intercontinental Exchange during the 3rd quarter valued at $29,000. FSA Wealth Management LLC bought a new position in Intercontinental Exchange during the 3rd quarter valued at $31,000. Finally, Planning Capital Management Corp raised its stake in shares of Intercontinental Exchange by 96.7% during the 3rd quarter. Planning Capital Management Corp now owns 299 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 147 shares during the period. Institutional investors and hedge funds own 89.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ICE. Keefe, Bruyette & Woods boosted their price objective on Intercontinental Exchange from $178.00 to $186.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. JPMorgan Chase & Co. dropped their target price on Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. StockNews.com upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. Barclays upped their target price on Intercontinental Exchange from $179.00 to $189.00 and gave the company an “overweight” rating in a report on Friday, February 7th. Finally, UBS Group upped their price target on Intercontinental Exchange from $185.00 to $195.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, Intercontinental Exchange currently has a consensus rating of “Moderate Buy” and a consensus target price of $178.80.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, insider Christopher Scott Edmonds sold 6,834 shares of the company’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $166.99, for a total value of $1,141,209.66. Following the completion of the transaction, the insider now owns 17,972 shares in the company, valued at $3,001,144.28. This represents a 27.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, President Benjamin Jackson sold 5,828 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $160.00, for a total transaction of $932,480.00. Following the completion of the sale, the president now directly owns 156,163 shares of the company’s stock, valued at $24,986,080. The trade was a 3.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,196 shares of company stock valued at $10,840,972 over the last quarter. 1.10% of the stock is owned by company insiders.

Intercontinental Exchange Price Performance

NYSE:ICE opened at $167.00 on Friday. Intercontinental Exchange, Inc. has a 52 week low of $124.34 and a 52 week high of $169.78. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $95.95 billion, a PE ratio of 34.94, a price-to-earnings-growth ratio of 2.11 and a beta of 1.11. The stock’s 50-day moving average price is $155.18 and its 200-day moving average price is $157.99.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, February 6th. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.53 by ($0.01). Intercontinental Exchange had a return on equity of 12.95% and a net margin of 23.42%. As a group, equities analysts expect that Intercontinental Exchange, Inc. will post 6.71 EPS for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th will be given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 1.15%. The ex-dividend date of this dividend is Tuesday, December 16th. Intercontinental Exchange’s payout ratio is presently 37.66%.

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.