Rialto Wealth Management LLC Takes $926,000 Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Rialto Wealth Management LLC bought a new position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) in the 4th quarter, HoldingsChannel reports. The fund bought 6,214 shares of the financial services provider’s stock, valued at approximately $926,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sierra Ocean LLC bought a new position in Intercontinental Exchange during the 4th quarter valued at $25,000. Capital Performance Advisors LLP purchased a new stake in shares of Intercontinental Exchange in the third quarter valued at about $29,000. FSA Wealth Management LLC bought a new position in shares of Intercontinental Exchange during the third quarter valued at about $31,000. BankPlus Trust Department purchased a new position in Intercontinental Exchange during the fourth quarter worth about $40,000. Finally, Planning Capital Management Corp grew its position in Intercontinental Exchange by 96.7% in 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 in the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on ICE. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Intercontinental Exchange from $160.00 to $163.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. StockNews.com upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Monday, February 10th. Keefe, Bruyette & Woods boosted their price objective on Intercontinental Exchange from $178.00 to $186.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 target price on shares of Intercontinental Exchange in a research report on Tuesday, January 7th. Finally, UBS Group boosted their price target on shares of Intercontinental Exchange from $185.00 to $195.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $178.80.

Intercontinental Exchange Stock Performance

NYSE ICE opened at $170.40 on Friday. The company’s 50 day moving average is $159.46 and its 200-day moving average is $159.28. The firm has a market cap of $97.91 billion, a P/E ratio of 35.65, a price-to-earnings-growth ratio of 2.10 and a beta of 1.08. Intercontinental Exchange, Inc. has a 12-month low of $124.34 and a 12-month high of $175.41. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.63.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results 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%. Sell-side analysts predict that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th will be issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date is Tuesday, December 16th. Intercontinental Exchange’s payout ratio is presently 40.17%.

Insider Activity

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 955 shares of the firm’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $156.08, for a total value of $149,056.40. Following the completion of the transaction, the general counsel now directly owns 44,702 shares of the company’s stock, valued at $6,977,088.16. This trade represents a 2.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Christopher Scott Edmonds sold 601 shares of the business’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $147.73, for a total transaction of $88,785.73. Following the transaction, the insider now owns 12,922 shares of the company’s stock, valued at $1,908,967.06. This trade represents a 4.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 68,268 shares of company stock worth $11,262,789 over the last ninety days. Company insiders own 1.10% of the company’s stock.

Intercontinental Exchange Company 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.